Webster Financial (NYSE:WBS) Posts Quarterly Earnings Results

Webster Financial (NYSE:WBS) issued its earnings results on Tuesday. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02), Briefing.com reports. Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. The firm had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter in the prior year, the company posted $1.49 earnings per share. Webster Financial’s quarterly revenue was up .2% compared to the same quarter last year.

Webster Financial Price Performance

Shares of NYSE:WBS traded up $0.08 during trading on Wednesday, reaching $44.96. 482,176 shares of the company’s stock traded hands, compared to its average volume of 1,149,672. The firm has a market cap of $7.72 billion, a PE ratio of 9.14, a P/E/G ratio of 0.38 and a beta of 1.33. Webster Financial has a fifty-two week low of $31.03 and a fifty-two week high of $53.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41. The company has a 50-day simple moving average of $47.97 and a 200-day simple moving average of $46.50.

Insider Buying and Selling

In related news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the transaction, the insider now owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the transaction, the insider now owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles L. Wilkins sold 3,966 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $51.56, for a total value of $204,486.96. Following the completion of the transaction, the insider now directly owns 49,528 shares of the company’s stock, valued at approximately $2,553,663.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,941 shares of company stock valued at $1,545,582. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WBS. Bank of America initiated coverage on Webster Financial in a research note on Thursday, January 11th. They set a “buy” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on Webster Financial from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup reduced their target price on Webster Financial from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Royal Bank of Canada cut their price objective on Webster Financial from $59.00 to $57.00 and set an “outperform” rating on the stock in a report on Tuesday, April 9th. Finally, Barclays cut their price objective on Webster Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Webster Financial currently has a consensus rating of “Moderate Buy” and an average price target of $56.85.

Webster Financial Company Profile

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.