Webster Financial Co. Expected to Post Q2 2024 Earnings of $1.39 Per Share (NYSE:WBS)

Webster Financial Co. (NYSE:WBS) – Seaport Res Ptn cut their Q2 2024 earnings estimates for shares of Webster Financial in a research note issued on Wednesday, April 24th. Seaport Res Ptn analyst L. Hunsicker now expects that the financial services provider will post earnings of $1.39 per share for the quarter, down from their previous forecast of $1.60. The consensus estimate for Webster Financial’s current full-year earnings is $5.72 per share. Seaport Res Ptn also issued estimates for Webster Financial’s Q3 2024 earnings at $1.42 EPS, FY2024 earnings at $5.64 EPS, Q3 2025 earnings at $1.56 EPS, Q4 2025 earnings at $1.58 EPS and FY2025 earnings at $6.18 EPS.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. Webster Financial’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $1.49 earnings per share.

WBS has been the topic of several other reports. Royal Bank of Canada decreased their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday. Morgan Stanley raised their price target on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Citigroup decreased their price target on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays decreased their price target on shares of Webster Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, 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 objective for the company. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Webster Financial has a consensus rating of “Moderate Buy” and a consensus target price of $56.23.

Webster Financial Stock Performance

WBS opened at $45.48 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. The company has a market cap of $7.81 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 0.37 and a beta of 1.33. Webster Financial has a 52-week low of $31.03 and a 52-week high of $53.39. The firm’s fifty day simple moving average is $47.94 and its two-hundred day simple moving average is $46.49.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WBS. Rise Advisors LLC purchased a new position in Webster Financial in the first quarter worth approximately $29,000. Spire Wealth Management lifted its position in shares of Webster Financial by 79.1% during the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after buying an additional 268 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Webster Financial during the 3rd quarter worth approximately $32,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Webster Financial during the 4th quarter worth approximately $42,000. Finally, Principal Securities Inc. purchased a new stake in shares of Webster Financial during the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Insider Buying and Selling at Webster Financial

In related news, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the transaction, the insider now owns 63,306 shares in the company, valued at $3,317,234.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the transaction, the insider now owns 63,306 shares in the company, valued at $3,317,234.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total transaction of $697,005.00. Following the completion of the transaction, the chief operating officer now owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The disclosure for this sale can be found here. Insiders sold a total of 25,975 shares of company stock worth $1,341,095 over the last three months. Insiders own 0.88% of the company’s stock.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Friday, May 3rd. Webster Financial’s dividend payout ratio is presently 32.79%.

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.