Webster Financial (NYSE:WBS) released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.06, RTT News reports. The firm had revenue of $270.97 million during the quarter, compared to the consensus estimate of $269.64 million. Webster Financial had a return on equity of 9.91% and a net margin of 21.77%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share.
Webster Financial (NYSE:WBS) traded up $1.83 during trading on Wednesday, hitting $55.67. The company had a trading volume of 354,785 shares, compared to its average volume of 544,767. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. Webster Financial has a 12-month low of $44.04 and a 12-month high of $60.32. The firm has a market capitalization of $4,936.61, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th will be paid a dividend of $0.26 per share. The ex-dividend date is Monday, February 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.87%. Webster Financial’s payout ratio is 39.10%.
In related news, Director Mark Pettie sold 3,291 shares of Webster Financial stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $56.34, for a total transaction of $185,414.94. Following the completion of the sale, the director now owns 16,405 shares of the company’s stock, valued at $924,257.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joel S. Becker sold 5,064 shares of Webster Financial stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $54.22, for a total value of $274,570.08. Following the sale, the director now directly owns 58,283 shares of the company’s stock, valued at approximately $3,160,104.26. The disclosure for this sale can be found here. Insiders have sold 11,272 shares of company stock valued at $629,959 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded Webster Financial from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Wednesday, December 20th. Boenning Scattergood reiterated a “hold” rating on shares of Webster Financial in a research note on Wednesday, January 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $63.00 target price on shares of Webster Financial in a research note on Friday, October 20th. Barclays set a $55.00 target price on Webster Financial and gave the company a “hold” rating in a research note on Friday, October 20th. Finally, Sandler O’Neill reiterated a “hold” rating and issued a $60.00 target price on shares of Webster Financial in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $59.82.
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Webster Financial 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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