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

Webster Financial (NYSE:WBS) posted its earnings results on Thursday. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01), Briefing.com reports. The company had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. During the same quarter in the prior year, the business posted $1.55 EPS.

Webster Financial Price Performance

Shares of NYSE:WBS opened at $52.91 on Friday. The firm has a 50 day moving average of $46.21 and a 200-day moving average of $45.35. The stock has a market capitalization of $9.07 billion, a PE ratio of 10.84, a PEG ratio of 0.81 and a beta of 1.28. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. Webster Financial has a 12 month low of $36.36 and a 12 month high of $54.38.

Analyst Ratings Changes

Several analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Morgan Stanley dropped their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, September 30th. Stephens set a $58.00 price objective on shares of Webster Financial in a research note on Thursday. Wedbush lifted their price objective on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Jefferies Financial Group dropped their price objective on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.85.

Insider Activity at Webster Financial

In related news, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the sale, the insider now directly owns 45,157 shares of the company’s stock, valued at approximately $2,215,853.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the sale, the insider now directly owns 45,157 shares of the company’s stock, valued at approximately $2,215,853.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jason A. Soto sold 1,650 shares of Webster Financial stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction of $76,428.00. Following the sale, the insider now directly owns 20,539 shares in the company, valued at $951,366.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Webster Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. ICA Group Wealth Management LLC bought a new stake in Webster Financial during the 4th quarter worth approximately $84,000. Quadrature Capital Ltd bought a new stake in Webster Financial during the 4th quarter worth approximately $1,080,000. Rise Advisors LLC bought a new stake in Webster Financial during the 1st quarter worth approximately $29,000. Wedmont Private Capital grew its holdings in Webster Financial by 6.5% during the 1st quarter. Wedmont Private Capital now owns 6,054 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 367 shares during the last quarter. Finally, Park Avenue Securities LLC grew its holdings in Webster Financial by 24.5% during the 1st quarter. Park Avenue Securities LLC now owns 5,196 shares of the financial services provider’s stock worth $264,000 after acquiring an additional 1,023 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

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.