Webster Financial (NYSE:WBS) Posts Earnings Results, Misses Expectations By $0.01 EPS

Webster Financial (NYSE:WBS) released its quarterly earnings results on Tuesday. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01), FiscalAI reports. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.

Webster Financial Stock Performance

NYSE WBS traded up $0.83 on Tuesday, hitting $76.18. 2,801,247 shares of the company’s stock were exchanged, compared to its average volume of 3,778,006. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s 50-day moving average price is $74.25 and its two-hundred day moving average price is $71.06. Webster Financial has a fifty-two week low of $52.69 and a fifty-two week high of $77.69. The firm has a market cap of $12.34 billion, a price-to-earnings ratio of 12.47 and a beta of 1.00.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Monday, May 11th. Webster Financial’s payout ratio is currently 26.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WBS shares. Keefe, Bruyette & Woods decreased their price objective on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Finally, UBS Group started coverage on shares of Webster Financial in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Webster Financial has a consensus rating of “Hold” and an average price target of $73.96.

Institutional Trading of Webster Financial

A number of institutional investors have recently modified their holdings of the business. BOKF NA acquired a new position in Webster Financial during the third quarter worth $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Webster Financial in the third quarter valued at $29,000. Atlas Capital Advisors Inc. acquired a new stake in Webster Financial in the fourth quarter valued at $31,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Webster Financial during the 3rd quarter worth $33,000. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Webster Financial by 27.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 183 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.