Webster Financial Co. to Post Q3 2024 Earnings of $1.54 Per Share, Wedbush Forecasts (NYSE:WBS)

Webster Financial Co. (NYSE:WBS) – Research analysts at Wedbush lowered their Q3 2024 earnings per share estimates for Webster Financial in a research note issued to investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of $1.54 for the quarter, down from their previous estimate of $1.56. The consensus estimate for Webster Financial’s current full-year earnings is $5.89 per share. Wedbush also issued estimates for Webster Financial’s Q4 2024 earnings at $1.57 EPS and FY2025 earnings at $6.60 EPS.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). The business had revenue of $996.96 million during the quarter, compared to analysts’ expectations of $674.82 million. Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. During the same period in the prior year, the firm earned $1.60 EPS.

A number of other research analysts have also recently weighed in on WBS. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $64.00 target price on shares of Webster Financial in a report on Tuesday. Morgan Stanley lifted their target price on Webster Financial from $51.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Bank of America started coverage on Webster Financial in a report on Thursday, January 11th. They issued a “buy” rating and a $60.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $59.00 target price on shares of Webster Financial in a report on Wednesday, January 24th. Finally, StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Webster Financial has a consensus rating of “Moderate Buy” and an average target price of $57.31.

Webster Financial Price Performance

Shares of NYSE:WBS opened at $50.74 on Friday. The company has a market cap of $8.71 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.34 and a beta of 1.32. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41. Webster Financial has a 52 week low of $31.03 and a 52 week high of $53.39. The business has a fifty day simple moving average of $48.54 and a 200-day simple moving average of $45.55.

Hedge Funds Weigh In On Webster Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd acquired a new position in shares of Webster Financial during the fourth quarter worth approximately $1,080,000. Hennessy Advisors Inc. acquired a new stake in Webster Financial in the fourth quarter worth approximately $1,624,000. ICA Group Wealth Management LLC acquired a new stake in Webster Financial in the fourth quarter worth approximately $84,000. Covenant Partners LLC acquired a new stake in Webster Financial in the fourth quarter worth approximately $210,000. Finally, GSA Capital Partners LLP acquired a new stake in Webster Financial in the fourth quarter worth approximately $395,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Webster Financial

In other news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the completion of the transaction, the insider now directly owns 27,955 shares of the company’s stock, valued at $1,330,658. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the completion of the transaction, the insider now directly owns 27,955 shares of the company’s stock, valued at $1,330,658. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Luis Massiani sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value of $697,005.00. Following the transaction, the chief operating officer now owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The disclosure for this sale can be found here. Insiders sold a total of 34,941 shares of company stock valued at $1,796,482 over the last three months. 0.88% of the stock is owned by insiders.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.15%. The ex-dividend date was Friday, February 2nd. Webster Financial’s dividend payout ratio is currently 32.72%.

Webster Financial Company Profile

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.