Webster Financial (NYSE:WBS) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Webster Financial (NYSE:WBS) announced its quarterly earnings results on Tuesday. The financial services provider reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.08), Briefing.com reports. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $671.91 million. Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. During the same quarter last year, the firm posted $1.50 earnings per share.

Webster Financial Trading Up 1.2 %

Shares of NYSE WBS traded up $0.60 during midday trading on Friday, reaching $49.20. The company had a trading volume of 1,709,065 shares, compared to its average volume of 1,276,316. Webster Financial has a one year low of $36.36 and a one year high of $53.39. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average price is $43.87 and its 200-day moving average price is $46.49. The stock has a market cap of $8.44 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.57 and a beta of 1.30.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Monday, July 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Monday, July 29th. Webster Financial’s dividend payout ratio (DPR) is presently 32.79%.

Insider Activity

In other news, insider Jason A. Soto sold 1,650 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value of $76,428.00. Following the completion of the sale, the insider now owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the completion of the transaction, the insider now owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $48.04, for a total value of $384,320.00. Following the transaction, the chief executive officer now directly owns 237,049 shares of the company’s stock, valued at approximately $11,387,833.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,930 shares of company stock valued at $562,892. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

WBS has been the subject of several research analyst reports. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Citigroup dropped their price objective on Webster Financial from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Royal Bank of Canada dropped their price objective on Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods dropped their price objective on Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. dropped their price objective on Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Webster Financial currently has an average rating of “Moderate Buy” and a consensus price target of $55.73.

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.