Webster Financial (NYSE:WBS) Posts Earnings Results, Beats Expectations By $0.08 EPS

Webster Financial (NYSE:WBS) released its quarterly earnings data on Friday. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.08, RTT News reports. The company had revenue of $661.00 million during the quarter, compared to the consensus estimate of $687,532.71 billion. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same quarter in the prior year, the firm posted $1.46 earnings per share.

Webster Financial Trading Up 2.8 %

WBS opened at $59.57 on Friday. The company has a fifty day moving average price of $58.11 and a two-hundred day moving average price of $51.05. Webster Financial has a 1-year low of $39.33 and a 1-year high of $63.99. The company has a market cap of $10.21 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 0.99 and a beta of 1.30. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.69%. The ex-dividend date was Friday, November 1st. Webster Financial’s dividend payout ratio is presently 36.28%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Wedbush increased their price objective on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company raised Webster Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $75.00 in a report on Monday, January 6th. JPMorgan Chase & Co. decreased their price target on Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Stephens set a $58.00 price objective on Webster Financial in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.58.

Insider Transactions at Webster Financial

In other Webster Financial news, Director Mark Pettie sold 4,500 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total transaction of $230,130.00. Following the completion of the sale, the director now owns 32,780 shares in the company, valued at approximately $1,676,369.20. The trade was a 12.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Daniel Bley sold 3,463 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $52.10, for a total transaction of $180,422.30. Following the completion of the transaction, the insider now directly owns 19,529 shares in the company, valued at $1,017,460.90. This trade represents a 15.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,250 shares of company stock valued at $2,105,322 in the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

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.