Webster Financial (NYSE:WBS) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Webster Financial (NYSE:WBS) released its earnings results on Tuesday. The financial services provider reported $1.35 earnings per share 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 company had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. During the same quarter in the previous year, the business posted $1.49 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis.

Webster Financial Trading Up 0.2 %

WBS stock traded up $0.10 during midday trading on Friday, reaching $45.58. The company’s stock had a trading volume of 208,096 shares, compared to its average volume of 1,149,743. Webster Financial has a 52 week low of $31.03 and a 52 week high of $53.39. The stock has a market cap of $7.83 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33. 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 business’s 50-day simple moving average is $47.94 and its 200-day simple moving average is $46.49.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.51%. Webster Financial’s payout ratio is presently 32.79%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WBS. Royal Bank of Canada reduced their target price on shares of Webster Financial from $57.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday. Morgan Stanley increased their price target on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Bank of America started coverage on shares of Webster Financial in a research report on Thursday, January 11th. They issued a “buy” rating and a $60.00 price target for the company. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.23.

Insider Buying and Selling at Webster Financial

In other news, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction 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 transaction, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the transaction, the insider now directly owns 27,955 shares of the company’s stock, valued at $1,330,658. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Luis Massiani sold 13,500 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction of $697,005.00. Following the sale, the chief operating officer now owns 89,621 shares in the company, valued at $4,627,132.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,975 shares of company stock valued at $1,341,095. 0.88% of the stock is currently owned by 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.