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

Webster Financial (NYSE:WBS) released its quarterly earnings data on Tuesday. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.01), FiscalAI reports. Webster Financial had a return on equity of 11.31% and a net margin of 22.78%.The firm had revenue of $739.99 million for the quarter, compared to analyst estimates of $755.80 million. During the same quarter in the previous year, the business posted $1.52 earnings per share. Webster Financial’s revenue for the quarter was up 3.4% on a year-over-year basis.

Webster Financial Stock Performance

NYSE WBS opened at $76.58 on Thursday. 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 company has a market cap of $12.41 billion, a P/E ratio of 12.45 and a beta of 1.00. The stock has a 50-day moving average of $74.43 and a two-hundred day moving average of $71.25. Webster Financial has a 1-year low of $52.69 and a 1-year high of $77.69.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, May 11th. Webster Financial’s dividend payout ratio (DPR) is 26.19%.

Institutional Investors Weigh In On Webster Financial

Several large investors have recently added to or reduced their stakes in the business. Compound Planning Inc. grew its stake in shares of Webster Financial by 13.5% in the fourth quarter. Compound Planning Inc. now owns 5,056 shares of the financial services provider’s stock worth $318,000 after acquiring an additional 600 shares in the last quarter. Invesco Ltd. boosted its holdings in Webster Financial by 2.9% in the fourth quarter. Invesco Ltd. now owns 5,516,110 shares of the financial services provider’s stock valued at $347,184,000 after purchasing an additional 156,636 shares during the period. Corient Private Wealth LLC grew its stake in Webster Financial by 8.5% during the 4th quarter. Corient Private Wealth LLC now owns 12,056 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 947 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in Webster Financial during the 4th quarter worth about $599,000. Finally, NewEdge Advisors LLC increased its holdings in Webster Financial by 8.2% during the 4th quarter. NewEdge Advisors LLC now owns 14,600 shares of the financial services provider’s stock worth $919,000 after purchasing an additional 1,110 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Royal Bank Of Canada increased their price target on shares of Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research note on Wednesday. Keefe, Bruyette & Woods reduced their price target on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research report on Friday, May 1st. UBS Group assumed coverage on Webster Financial in a report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price objective on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.04.

About Webster Financial

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.