Webster Financial Corporation (NYSE:WBS) issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03, Briefing.com reports. The company had revenue of $266.75 million during the quarter, compared to analyst estimates of $269.03 million. Webster Financial Corporation had a return on equity of 9.89% and a net margin of 21.09%. During the same period in the previous year, the company earned $0.54 earnings per share.
Shares of Webster Financial Corporation (NYSE WBS) traded down 0.14% during trading on Friday, hitting $55.70. The stock had a trading volume of 502,306 shares. The stock has a 50 day moving average price of $51.78 and a 200-day moving average price of $50.78. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 23.21 and a beta of 1.26. Webster Financial Corporation has a one year low of $39.62 and a one year high of $57.50.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, November 6th. Webster Financial Corporation’s dividend payout ratio (DPR) is presently 41.11%.
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In other news, Director John Joseph Crawford sold 11,516 shares of Webster Financial Corporation stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $54.83, for a total transaction of $631,422.28. Following the completion of the transaction, the director now directly owns 16,953 shares in the company, valued at $929,532.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Bley sold 1,239 shares of Webster Financial Corporation stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $55.38, for a total transaction of $68,615.82. Following the transaction, the executive vice president now owns 22,721 shares of the company’s stock, valued at $1,258,288.98. The disclosure for this sale can be found here. Insiders have sold 46,181 shares of company stock valued at $2,421,181 over the last quarter. Company insiders own 2.20% of the company’s stock.
WBS has been the topic of a number of research reports. Zacks Investment Research upgraded Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Thursday, August 3rd. ValuEngine upgraded Webster Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $63.00 price target on shares of Webster Financial Corporation in a research report on Friday, October 20th. Jefferies Group LLC reiterated a “hold” rating and issued a $53.00 price target on shares of Webster Financial Corporation in a research report on Friday, July 14th. Finally, BidaskClub upgraded Webster Financial Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.11.
Webster Financial Corporation Company Profile
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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