Q3 2024 EPS Estimates for Webster Financial Co. (NYSE:WBS) Decreased by Wedbush

Webster Financial Co. (NYSE:WBS) – Equities research analysts at Wedbush decreased their Q3 2024 earnings estimates for shares of Webster Financial in a research note issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn $1.54 per share for the quarter, down from their prior estimate of $1.56. The consensus estimate for Webster Financial’s current full-year earnings is $5.89 per share. Wedbush also issued estimates for Webster Financial’s Q4 2024 earnings at $1.57 EPS and FY2025 earnings at $6.60 EPS.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.02). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The business had revenue of $996.96 million during the quarter, compared to analysts’ expectations of $674.82 million. During the same quarter in the previous year, the business posted $1.60 EPS.

WBS has been the subject of a number of other research reports. Bank of America assumed coverage on shares of Webster Financial in a research report on Thursday, January 11th. They set a “buy” rating and a $60.00 price target for the company. Barclays initiated coverage on shares of Webster Financial in a research note on Friday, March 8th. They set an “overweight” rating and a $70.00 price objective on the stock. Morgan Stanley lifted their target price on Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. raised Webster Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $65.00 in a report on Wednesday, January 24th. Finally, Citigroup cut their price objective on Webster Financial from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.31.

Webster Financial Stock Down 0.1 %

WBS stock opened at $50.74 on Friday. Webster Financial has a twelve month low of $31.03 and a twelve month high of $53.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $8.71 billion, a P/E ratio of 10.38, a PEG ratio of 0.34 and a beta of 1.32. The firm has a 50 day simple moving average of $48.54 and a 200-day simple moving average of $45.55.

Institutional Investors Weigh In On Webster Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of WBS. Spire Wealth Management raised its stake in shares of Webster Financial by 79.1% during the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 268 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Webster Financial during the 3rd quarter worth approximately $32,000. Neo Ivy Capital Management bought a new stake in shares of Webster Financial during the 2nd quarter worth approximately $32,000. Lazard Asset Management LLC raised its stake in shares of Webster Financial by 9,388.9% during the 2nd quarter. Lazard Asset Management LLC now owns 854 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 845 shares in the last quarter. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Webster Financial during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Insider Transactions at Webster Financial

In other news, COO Luis Massiani sold 13,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $4,627,132.23. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Luis Massiani sold 13,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $4,627,132.23. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel Bley sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the sale, the insider now directly owns 27,955 shares in the company, valued at approximately $1,330,658. The disclosure for this sale can be found here. Insiders have sold a total of 34,941 shares of company stock valued at $1,796,482 over the last 90 days. 0.88% of the stock is owned by company insiders.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Monday, February 5th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Friday, February 2nd. Webster Financial’s dividend payout ratio (DPR) is currently 32.72%.

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.