Bank of New York Mellon Corp reduced its position in shares of Webster Financial Corporation (NYSE:WBS) by 5.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,307,136 shares of the financial services provider’s stock after selling 141,384 shares during the period. Bank of New York Mellon Corp owned about 2.50% of Webster Financial Corporation worth $120,478,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Webster Financial Corporation by 18.6% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,185 shares of the financial services provider’s stock worth $155,000 after buying an additional 500 shares during the last quarter. Flinton Capital Management LLC raised its stake in shares of Webster Financial Corporation by 20.9% in the first quarter. Flinton Capital Management LLC now owns 3,152 shares of the financial services provider’s stock worth $158,000 after buying an additional 544 shares during the last quarter. Sky Investment Group LLC purchased a new stake in shares of Webster Financial Corporation during the second quarter worth about $200,000. HighTower Advisors LLC purchased a new stake in shares of Webster Financial Corporation during the first quarter worth about $215,000. Finally, Meadow Creek Investment Management LLC raised its stake in shares of Webster Financial Corporation by 20.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,334 shares of the financial services provider’s stock worth $217,000 after buying an additional 748 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors.

Shares of Webster Financial Corporation (NYSE:WBS) opened at 46.86 on Thursday. Webster Financial Corporation has a 52-week low of $36.96 and a 52-week high of $57.50. The stock’s 50 day moving average price is $51.07 and its 200-day moving average price is $51.51. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 19.52 and a beta of 1.25.

Webster Financial Corporation (NYSE:WBS) last posted its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The business had revenue of $262.50 million during the quarter, compared to the consensus estimate of $260.91 million. Webster Financial Corporation had a net margin of 20.43% and a return on equity of 9.49%. During the same period in the prior year, the firm earned $0.53 EPS. On average, analysts predict that Webster Financial Corporation will post $2.55 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 7th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Thursday, August 3rd. Webster Financial Corporation’s dividend payout ratio is currently 43.33%.

ILLEGAL ACTIVITY WARNING: This story was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright laws. The original version of this story can be read at https://www.thecerbatgem.com/2017/08/24/webster-financial-corporation-wbs-shares-sold-by-bank-of-new-york-mellon-corp.html.

A number of analysts have issued reports on WBS shares. Zacks Investment Research raised Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $53.00 price objective on shares of Webster Financial Corporation in a research report on Friday, July 14th. BidaskClub raised Webster Financial Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Wedbush reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Webster Financial Corporation in a research report on Tuesday, June 27th. Finally, Piper Jaffray Companies reaffirmed a “sell” rating and set a $46.00 price objective on shares of Webster Financial Corporation in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Webster Financial Corporation has an average rating of “Hold” and an average target price of $53.00.

In related news, EVP Nitin J. Mhatre sold 31,940 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $51.34, for a total transaction of $1,639,799.60. Following the completion of the transaction, the executive vice president now directly owns 23,120 shares in the company, valued at approximately $1,186,980.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daniel Bley sold 8,000 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $51.20, for a total transaction of $409,600.00. Following the transaction, the executive vice president now owns 25,657 shares of the company’s stock, valued at $1,313,638.40. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

About Webster Financial Corporation

Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.

Want to see what other hedge funds are holding WBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Webster Financial Corporation (NYSE:WBS).

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

Receive News & Stock Ratings for Webster Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial Corporation and related stocks with our FREE daily email newsletter.