Webster Financial (NYSE:WBS) Releases Quarterly Earnings Results
by Tristan Rich · The Markets DailyWebster Financial (NYSE:WBS – Get Free Report) issued its quarterly earnings results on Tuesday. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01), FiscalAI reports. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $755.80 million. During the same quarter last year, the business posted $1.52 EPS. The business’s revenue was up 3.4% compared to the same quarter last year.
Webster Financial Stock Performance
NYSE:WBS opened at $76.18 on Wednesday. The firm has a market cap of $12.34 billion, a PE ratio of 12.47 and a beta of 1.00. Webster Financial has a fifty-two week low of $52.69 and a fifty-two week high of $77.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.87 and a current ratio of 0.87. The business has a 50 day moving average price of $74.33 and a 200-day moving average price of $71.16.
Webster Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were given a $0.40 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.60 annualized dividend and a yield of 2.1%. Webster Financial’s payout ratio is presently 26.19%.
Institutional Investors Weigh In On Webster Financial
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WBS. BOKF NA purchased a new position in shares of Webster Financial in the third quarter valued at about $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Webster Financial during the third quarter worth about $29,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Webster Financial during the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Webster Financial in the third quarter worth about $33,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Webster Financial by 27.9% in the third quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 183 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
WBS has been the topic of several research analyst reports. UBS Group assumed coverage on shares of Webster Financial in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a report on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $73.96.
Check Out Our Latest Report on Webster Financial
Webster Financial Company Profile
Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.
In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.
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