Webster Financial (WBS) Releases Quarterly Earnings Results
Webster Financial (NYSE:WBS) released its quarterly earnings results on Tuesday. The financial services provider reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06, RTT News reports. The business had revenue of $270.97 million during the quarter, compared to analyst estimates of $269.64 million. Webster Financial had a net margin of 21.09% and a return on equity of 9.89%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share.
Webster Financial (NYSE:WBS) opened at $58.57 on Tuesday. The company has a market cap of $5,490.00, a P/E ratio of 23.06, a P/E/G ratio of 2.29 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.81 and a quick ratio of 0.81. Webster Financial has a 1 year low of $44.04 and a 1 year high of $59.86.
In related news, EVP Daniel Bley sold 1,239 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $55.38, for a total value of $68,615.82. Following the completion of the transaction, the executive vice president now directly owns 22,721 shares of the company’s stock, valued at approximately $1,258,288.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman James Copenhaver Smith sold 8,943 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $55.93, for a total transaction of $500,181.99. Following the completion of the transaction, the chairman now directly owns 316,103 shares of the company’s stock, valued at $17,679,640.79. The disclosure for this sale can be found here. Insiders sold a total of 23,105 shares of company stock valued at $1,275,686 over the last ninety days. 2.20% of the stock is currently owned by insiders.
Webster Financial 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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