Bank of New York Mellon Corp trimmed its stake in Webster Financial Co. (NYSE:WBS) by 22.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,143,706 shares of the financial services provider’s stock after selling 605,048 shares during the period. Bank of New York Mellon Corp owned approximately 2.34% of Webster Financial worth $49,091,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of WBS. Chevy Chase Trust Holdings Inc. purchased a new position in shares of Webster Financial in the 4th quarter valued at $35,000. FMR LLC grew its position in shares of Webster Financial by 113.8% in the 4th quarter. FMR LLC now owns 682 shares of the financial services provider’s stock valued at $36,000 after buying an additional 363 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Webster Financial in the 4th quarter valued at $62,000. Cullen Frost Bankers Inc. grew its position in shares of Webster Financial by 88.4% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,942 shares of the financial services provider’s stock valued at $104,000 after buying an additional 911 shares during the last quarter. Finally, HighMark Wealth Management LLC purchased a new position in shares of Webster Financial in the 4th quarter valued at $124,000. 86.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:WBS opened at $25.12 on Friday. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 7.39 and a beta of 1.71. The firm’s 50-day simple moving average is $24.30 and its 200-day simple moving average is $39.68. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.80. Webster Financial Co. has a fifty-two week low of $18.16 and a fifty-two week high of $54.04.

Webster Financial (NYSE:WBS) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.17). The firm had revenue of $304.18 million during the quarter, compared to analysts’ expectations of $304.50 million. Webster Financial had a net margin of 22.40% and a return on equity of 10.80%. The firm’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS. On average, research analysts forecast that Webster Financial Co. will post 2.13 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.37%. The ex-dividend date of this dividend was Tuesday, May 5th. Webster Financial’s payout ratio is 39.31%.

In related news, Director William L. Atwell acquired 2,500 shares of Webster Financial stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average price of $28.57 per share, for a total transaction of $71,425.00. Following the completion of the purchase, the director now directly owns 31,209 shares of the company’s stock, valued at $891,641.13. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William L. Atwell acquired 5,000 shares of Webster Financial stock in a transaction that occurred on Friday, April 24th. The stock was bought at an average price of $23.60 per share, with a total value of $118,000.00. Following the purchase, the director now directly owns 28,709 shares of the company’s stock, valued at $677,532.40. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 23,000 shares of company stock worth $562,925. Insiders own 1.46% of the company’s stock.

Several research analysts have issued reports on the stock. ValuEngine downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. Morgan Stanley lowered their price objective on shares of Webster Financial from $37.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 7th. Wells Fargo & Co raised shares of Webster Financial from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $47.00 to $27.00 in a research report on Monday, March 30th. Compass Point downgraded shares of Webster Financial from a “buy” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a research report on Wednesday, April 22nd. Finally, UBS Group raised their price objective on shares of Webster Financial from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $35.63.

About Webster Financial

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

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Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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