Webster Financial (NYSE:WBS) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Webster Financial (NYSE:WBS) issued its quarterly earnings results on Tuesday. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02), Briefing.com reports. The business had revenue of $667.10 million during the quarter, compared to analyst estimates of $680.72 million. Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.49 earnings per share.

Webster Financial Trading Up 0.2 %

WBS traded up $0.11 during trading on Wednesday, reaching $44.99. 457,384 shares of the company’s stock were exchanged, compared to its average volume of 1,149,360. The company’s fifty day moving average price is $47.97 and its 200-day moving average price is $46.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 0.85. Webster Financial has a fifty-two week low of $31.03 and a fifty-two week high of $53.39. The firm has a market capitalization of $7.73 billion, a PE ratio of 9.14, a P/E/G ratio of 0.38 and a beta of 1.33.

Insiders Place Their Bets

In other news, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the transaction, the insider now owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Christopher J. Motl sold 10,475 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the transaction, the insider now owns 63,306 shares of the company’s stock, valued at approximately $3,317,234.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were 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 approximately $1,330,658. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,941 shares of company stock valued at $1,545,582. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup decreased their target price on Webster Financial from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. StockNews.com downgraded Webster Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Jefferies Financial Group decreased their target price on Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Keefe, Bruyette & Woods cut their price target on shares of Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Raymond James reiterated an “outperform” rating and issued a $60.00 target price on shares of Webster Financial in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.85.

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.