Webster Financial (NYSE:WBS) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Webster Financial (NYSE:WBS) posted its quarterly earnings data on Friday. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.07, FiscalAI reports. The firm had revenue of $760.48 million during the quarter, compared to analysts’ expectations of $731.95 million. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.During the same period in the prior year, the business earned $1.43 EPS.

Webster Financial Trading Down 1.4%

WBS traded down $0.90 during trading on Friday, reaching $65.32. The company had a trading volume of 147,747 shares, compared to its average volume of 1,410,333. The stock has a market cap of $10.54 billion, a P/E ratio of 12.25, a PEG ratio of 0.55 and a beta of 1.05. Webster Financial has a 52 week low of $39.43 and a 52 week high of $67.43. The business has a 50 day simple moving average of $62.45 and a 200-day simple moving average of $60.11. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.42.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. Webster Financial’s dividend payout ratio is presently 29.80%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Webster Financial in a research note on Monday, December 29th. Barclays upped their price target on Webster Financial from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. Citigroup reiterated a “buy” rating on shares of Webster Financial in a research note on Tuesday, December 30th. UBS Group reissued a “buy” rating on shares of Webster Financial in a report on Tuesday, January 6th. Finally, TD Cowen reduced their price target on Webster Financial from $78.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, January 7th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Webster Financial has a consensus rating of “Moderate Buy” and an average target price of $72.77.

Insider Transactions at Webster Financial

In related news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $55.45, for a total transaction of $443,600.00. Following the transaction, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at $12,857,302.40. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Webster Financial

A number of large investors have recently modified their holdings of WBS. Alyeska Investment Group L.P. boosted its stake in shares of Webster Financial by 7,442.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider’s stock worth $120,838,000 after acquiring an additional 2,005,985 shares in the last quarter. AQR Capital Management LLC grew its holdings in Webster Financial by 221.0% in the second quarter. AQR Capital Management LLC now owns 1,565,623 shares of the financial services provider’s stock valued at $85,483,000 after purchasing an additional 1,077,819 shares during the period. Balyasny Asset Management L.P. increased its position in shares of Webster Financial by 2,735.9% in the third quarter. Balyasny Asset Management L.P. now owns 735,151 shares of the financial services provider’s stock valued at $43,697,000 after buying an additional 709,228 shares in the last quarter. Orion Porfolio Solutions LLC raised its stake in shares of Webster Financial by 642.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 233,824 shares of the financial services provider’s stock worth $12,767,000 after buying an additional 202,318 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in Webster Financial by 51.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 557,173 shares of the financial services provider’s stock valued at $30,422,000 after acquiring an additional 189,149 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.