Webster Financial (NYSE:WBS) Announces Earnings Results

Webster Financial (NYSE:WBS) issued its earnings results on Tuesday. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02), Briefing.com reports. The company had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $680.72 million. Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 earnings per share.

Webster Financial Trading Up 0.2 %

NYSE:WBS traded up $0.11 on Wednesday, reaching $44.99. 457,384 shares of the company’s stock were exchanged, compared to its average volume of 1,149,360. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 0.38 and a beta of 1.33. The business has a fifty day moving average of $47.97 and a 200-day moving average of $46.50. Webster Financial has a 52-week low of $31.03 and a 52-week high of $53.39.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WBS shares. JPMorgan Chase & Co. lowered their target price on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday. Raymond James reissued an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a research report on Tuesday, March 26th. Royal Bank of Canada cut their price objective on shares of Webster Financial from $59.00 to $57.00 and set an “outperform” rating on the stock in a report on Tuesday, April 9th. Barclays cut their price target on shares of Webster Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, 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 report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.85.

Insiders Place Their Bets

In other Webster Financial news, insider Charles L. Wilkins sold 3,966 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $51.56, for a total transaction of $204,486.96. Following the sale, the insider now directly owns 49,528 shares in the company, valued at $2,553,663.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Charles L. Wilkins sold 3,966 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $51.56, for a total transaction of $204,486.96. Following the completion of the transaction, the insider now directly owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel Bley sold 2,000 shares of the business’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 transaction, the insider now directly owns 27,955 shares of the company’s stock, valued at $1,330,658. The disclosure for this sale can be found here. Insiders have sold 29,941 shares of company stock worth $1,545,582 over the last three months. Company insiders own 0.72% of the company’s stock.

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.