Webster Financial (NYSE:WBS – Get Free Report) released its earnings results on Thursday. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01), Briefing.com reports. The business had revenue of $647.62 million for the quarter, compared to analysts’ expectations of $677.72 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 company posted $1.55 earnings per share.
Webster Financial Stock Down 2.5 %
WBS stock traded down $1.34 during mid-day trading on Friday, hitting $52.91. The stock had a trading volume of 2,126,181 shares, compared to its average volume of 1,252,117. Webster Financial has a 1-year low of $36.36 and a 1-year high of $54.38. The company has a fifty day moving average of $46.21 and a 200 day moving average of $45.33. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 0.81 and a beta of 1.28.
Insider Activity at Webster Financial
In other news, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 45,157 shares in the company, valued at approximately $2,215,853.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the 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 transaction, the insider now 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the sale, the insider now owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The trade was 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 company insiders.
Institutional Trading of Webster Financial
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. 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 report on Friday. Stephens set a $58.00 target price on shares of Webster Financial in a report on Thursday. Morgan Stanley reduced their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. Finally, Jefferies Financial Group lowered 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 report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Webster Financial presently has an average rating of “Moderate Buy” and an average price target of $57.85.
View Our Latest Stock Report on WBS
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.
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