Webster Financial Corporation (WBS) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS
Webster Financial Corporation (NYSE:WBS) released its quarterly earnings results on Thursday. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04, MarketWatch Earnings reports. Webster Financial Corporation had a net margin of 20.43% and a return on equity of 9.49%. During the same quarter in the previous year, the firm earned $0.54 EPS.
Webster Financial Corporation (NYSE:WBS) traded up 2.52% during mid-day trading on Thursday, hitting $54.14. 242,209 shares of the stock traded hands. The company’s 50 day moving average price is $50.14 and its 200-day moving average price is $50.48. Webster Financial Corporation has a 1-year low of $37.81 and a 1-year high of $57.50. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 22.56 and a beta of 1.26.
WBS has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Saturday, July 8th. ValuEngine raised shares of Webster Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Webster Financial Corporation in a research report on Friday, July 14th. BidaskClub raised shares of Webster Financial Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Webster Financial Corporation in a research report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Webster Financial Corporation has a consensus rating of “Hold” and a consensus price target of $53.00.
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In related news, EVP Daniel Bley sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $51.20, for a total value of $409,600.00. Following the transaction, the executive vice president now owns 25,657 shares of the company’s stock, valued at $1,313,638.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nitin J. Mhatre sold 31,940 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $51.34, for a total transaction of $1,639,799.60. Following the completion of the transaction, the executive vice president now directly owns 23,120 shares in the company, valued at approximately $1,186,980.80. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Webster Financial Corporation Company Profile
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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