Webster Financial (NYSE:WBS) Posts Quarterly Earnings Results

Webster Financial (NYSE:WBS) announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.05, Morningstar.com reports. Webster Financial had a net margin of 27.57% and a return on equity of 13.77%. The company had revenue of $310.20 million for the quarter, compared to the consensus estimate of $310.46 million. During the same period in the previous year, the firm posted $0.85 EPS. Webster Financial’s revenue for the quarter was up 10.6% compared to the same quarter last year.

NYSE WBS traded up $0.33 during mid-day trading on Friday, reaching $51.83. 395,050 shares of the stock were exchanged, compared to its average volume of 465,682. Webster Financial has a 1 year low of $45.38 and a 1 year high of $69.63. The company has a market capitalization of $4.75 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 1.54 and a beta of 1.18. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.81 and a current ratio of 0.81.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 3rd. This is an increase from Webster Financial’s previous quarterly dividend of $0.33. This represents a $1.60 dividend on an annualized basis and a yield of 3.09%. Webster Financial’s dividend payout ratio is 42.78%.

A number of equities analysts recently commented on the stock. ValuEngine cut shares of Webster Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Compass Point started coverage on shares of Webster Financial in a research report on Tuesday. They issued a “buy” rating for the company. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial in a research report on Monday, April 22nd. Barclays lowered their price target on shares of Webster Financial from $68.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Finally, Zacks Investment Research lowered shares of Webster Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Webster Financial presently has a consensus rating of “Hold” and a consensus price target of $62.40.

In other Webster Financial news, Director John Joseph Crawford sold 600 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $53.60, for a total transaction of $32,160.00. Following the transaction, the director now directly owns 17,099 shares of the company’s stock, valued at $916,506.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel Bley sold 4,000 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $52.39, for a total transaction of $209,560.00. Following the transaction, the executive vice president now directly owns 20,654 shares in the company, valued at $1,082,063.06. The disclosure for this sale can be found here. Insiders have sold 6,100 shares of company stock worth $321,865 over the last three months. 1.53% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of WBS. Enlightenment Research LLC acquired a new stake in Webster Financial during the fourth quarter worth about $25,000. JOYN Advisors Inc. increased its position in shares of Webster Financial by 413.7% during the fourth quarter. JOYN Advisors Inc. now owns 524 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 422 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Webster Financial by 4,934.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,816,632 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,780,548 shares during the last quarter. Harvest Group Wealth Management LLC acquired a new stake in shares of Webster Financial during the first quarter valued at about $58,000. Finally, NumerixS Investment Technologies Inc acquired a new stake in shares of Webster Financial during the first quarter valued at about $62,000. Institutional investors and hedge funds own 91.45% of the company’s stock.

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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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Earnings History for Webster Financial (NYSE:WBS)

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