Webster Financial Corporation (NYSE:WBS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 12.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,652,079 shares of the financial services provider's stock after selling 240,658 shares during the quarter. Bank of New York Mellon Corp owned about 0.98% of Webster Financial worth $85,165,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in WBS. Skandinaviska Enskilda Banken AB publ acquired a new position in Webster Financial in the fourth quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new position in shares of Webster Financial during the 4th quarter valued at approximately $32,000. Versant Capital Management Inc lifted its stake in shares of Webster Financial by 171.2% in the 1st quarter. Versant Capital Management Inc now owns 1,025 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 647 shares during the period. Bessemer Group Inc. boosted its holdings in Webster Financial by 166.1% during the first quarter. Bessemer Group Inc. now owns 1,027 shares of the financial services provider's stock worth $53,000 after buying an additional 641 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in Webster Financial by 78.7% during the first quarter. Parallel Advisors LLC now owns 1,117 shares of the financial services provider's stock valued at $58,000 after buying an additional 492 shares during the period. Hedge funds and other institutional investors own 85.58% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $65.00 price objective (up previously from $58.00) on shares of Webster Financial in a research report on Tuesday. Jefferies Financial Group assumed coverage on Webster Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $65.00 price target for the company. Royal Bank Of Canada set a $60.00 price objective on Webster Financial and gave the company an "outperform" rating in a research report on Friday, April 25th. UBS Group reaffirmed a "buy" rating and set a $69.00 target price on shares of Webster Financial in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price target on shares of Webster Financial from $60.00 to $70.00 and gave the company an "overweight" rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Webster Financial currently has an average rating of "Moderate Buy" and a consensus price target of $65.50.

Insider Buying and Selling

In other news, insider Daniel Bley sold 1,800 shares of Webster Financial stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $47.84, for a total transaction of $86,112.00. Following the transaction, the insider owned 21,517 shares in the company, valued at $1,029,373.28. The trade was a 7.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren States sold 2,200 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $50.80, for a total transaction of $111,760.00. Following the sale, the director owned 14,620 shares of the company's stock, valued at approximately $742,696. The trade was a 13.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,000 shares of company stock worth $934,210. 0.54% of the stock is currently owned by corporate insiders.

Webster Financial Price Performance

Shares of NYSE WBS traded down $0.62 during mid-day trading on Friday, reaching $58.89. The company's stock had a trading volume of 921,352 shares, compared to its average volume of 1,281,974. The stock has a 50-day moving average of $53.14 and a two-hundred day moving average of $53.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $9.91 billion, a P/E ratio of 13.26, a P/E/G ratio of 0.77 and a beta of 1.00. Webster Financial Corporation has a 1-year low of $39.43 and a 1-year high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.38 by ($0.08). The business had revenue of $704.80 million during the quarter, compared to analyst estimates of $708.46 million. Webster Financial had a net margin of 18.58% and a return on equity of 10.57%. The firm's revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.35 EPS. On average, equities research analysts anticipate that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were given a dividend of $0.40 per share. The ex-dividend date was Monday, May 12th. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. Webster Financial's payout ratio is 36.04%.

Webster Financial declared that its board has approved a share repurchase plan on Thursday, May 1st that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its stock is undervalued.

About Webster Financial

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.