Webster Financial (NYSE:WBS) released its earnings results on Thursday. The financial services provider reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.12, Fidelity Earnings reports. The business had revenue of $302.66 million for the quarter, compared to the consensus estimate of $299.30 million. Webster Financial had a net margin of 25.77% and a return on equity of 12.36%. During the same period in the previous year, the firm earned $0.67 EPS.
Webster Financial stock opened at $62.15 on Friday. The company has a market capitalization of $5.62 billion, a PE ratio of 17.92, a PEG ratio of 2.08 and a beta of 1.18. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.62. Webster Financial has a fifty-two week low of $51.68 and a fifty-two week high of $69.63.
Several research analysts have recently weighed in on WBS shares. ValuEngine raised shares of Webster Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. Zacks Investment Research raised shares of Webster Financial from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research report on Tuesday, July 17th. Barclays lifted their target price on shares of Webster Financial from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 11th. Boenning Scattergood reissued a “hold” rating on shares of Webster Financial in a research report on Thursday, July 19th. Finally, Wells Fargo & Co lifted their target price on shares of Webster Financial from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Tuesday, June 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.10.
In related news, EVP Daniel Bley sold 1,469 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $66.36, for a total transaction of $97,482.84. Following the transaction, the executive vice president now directly owns 19,329 shares of the company’s stock, valued at $1,282,672.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles L. Wilkins sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $67.51, for a total transaction of $202,530.00. Following the transaction, the executive vice president now directly owns 18,579 shares in the company, valued at $1,254,268.29. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Webster Financial Company Profile
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. It operates through four segments: Commercial Banking, Community Banking, HSA Bank, and Private Banking.
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