Webster Financial (NYSE:WBS) Issues Quarterly Earnings Results

Webster Financial (NYSE:WBS) released its earnings results on Friday. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08, RTT News reports. The firm had revenue of $661.00 million for the quarter, compared to analysts’ expectations of $687,532.71 billion. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period in the prior year, the firm posted $1.46 earnings per share.

Webster Financial Stock Performance

NYSE:WBS opened at $57.91 on Friday. The stock has a 50-day moving average price of $58.08 and a 200 day moving average price of $50.90. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial has a 12-month low of $39.33 and a 12-month high of $63.99. The stock has a market capitalization of $9.93 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.99 and a beta of 1.30.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s dividend payout ratio (DPR) is 36.28%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WBS. Barclays increased their price target on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Morgan Stanley cut their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. Wedbush lifted their target price on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 11th. Finally, Royal Bank of Canada increased their price objective on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.58.

Insider Buying and Selling

In other news, Director Lauren States sold 1,650 shares of Webster Financial stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $60.60, for a total value of $99,990.00. Following the sale, the director now directly owns 15,023 shares of the company’s stock, valued at approximately $910,393.80. The trade was a 9.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Bley sold 500 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $61.91, for a total value of $30,955.00. Following the completion of the sale, the insider now owns 17,279 shares in the company, valued at $1,069,742.89. This represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,250 shares of company stock valued at $2,105,322. Corporate insiders own 0.88% of the company’s stock.

About Webster Financial

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.