Webster Financial (NYSE:WBS) Announces Earnings Results

Webster Financial (NYSE:WBS) released its quarterly earnings results on Tuesday. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02), Briefing.com reports. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The business had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $680.72 million. During the same period in the previous year, the company earned $1.49 EPS. Webster Financial’s revenue for the quarter was up .2% compared to the same quarter last year.

Webster Financial Trading Up 1.5 %

WBS stock opened at $45.54 on Thursday. Webster Financial has a 1-year low of $31.03 and a 1-year high of $53.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 0.37 and a beta of 1.33. The business has a 50 day simple moving average of $47.97 and a two-hundred day simple moving average of $46.50.

Analyst Ratings Changes

Several equities research analysts have recently commented on WBS shares. Raymond James reaffirmed an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a research report on Tuesday, March 26th. Bank of America assumed coverage on shares of Webster Financial in a research report on Thursday, January 11th. They set a “buy” rating and a $60.00 price target for the company. Morgan Stanley boosted their price objective on Webster Financial from $51.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods cut their price objective on Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, StockNews.com downgraded Webster Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.23.

Insiders Place Their Bets

In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 27,955 shares in the company, valued at approximately $1,330,658. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Daniel Bley sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the completion of the transaction, the insider now directly owns 27,955 shares in the company, valued at approximately $1,330,658. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Luis Massiani sold 13,500 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total value of $697,005.00. Following the transaction, the chief operating officer now owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The disclosure for this sale can be found here. Insiders sold 25,975 shares of company stock worth $1,341,095 in the last three months. 0.72% of the stock is owned by company 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.