Webster Financial (NYSE:WBS) Issues Quarterly Earnings Results

Webster Financial (NYSE:WBS) posted its quarterly earnings results on Tuesday. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.04, FiscalAI reports. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $749.96 million. During the same period in the prior year, the firm posted $1.30 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year.

Webster Financial Price Performance

NYSE:WBS opened at $71.88 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s fifty day moving average price is $70.54 and its two-hundred day moving average price is $65.25. Webster Financial has a one year low of $45.94 and a one year high of $74.00. The company has a market cap of $11.65 billion, a P/E ratio of 12.16 and a beta of 1.03.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Monday, May 11th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, May 11th. Webster Financial’s payout ratio is currently 27.07%.

Analysts Set New Price Targets

WBS has been the topic of several analyst reports. Santander lowered shares of Webster Financial from a “neutral” rating to an “underweight” rating in a research report on Tuesday, March 3rd. Barclays set a $75.00 price objective on shares of Webster Financial in a report on Wednesday, February 4th. Royal Bank Of Canada downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a report on Wednesday, February 4th. Raymond James Financial downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, UBS Group assumed coverage on shares of Webster Financial in a report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Webster Financial presently has a consensus rating of “Hold” and an average price target of $74.07.

Hedge Funds Weigh In On Webster Financial

A number of hedge funds have recently bought and sold shares of WBS. Alyeska Investment Group L.P. increased its position in Webster Financial by 7,442.8% during the third quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider’s stock worth $120,838,000 after acquiring an additional 2,005,985 shares during the period. AQR Capital Management LLC increased its position in Webster Financial by 221.0% during the second quarter. AQR Capital Management LLC now owns 1,565,623 shares of the financial services provider’s stock worth $85,483,000 after acquiring an additional 1,077,819 shares during the period. Price T Rowe Associates Inc. MD increased its position in Webster Financial by 15.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,246,364 shares of the financial services provider’s stock worth $330,207,000 after acquiring an additional 713,294 shares during the period. Balyasny Asset Management L.P. increased its position in Webster Financial by 2,735.9% during the third quarter. Balyasny Asset Management L.P. now owns 735,151 shares of the financial services provider’s stock worth $43,697,000 after acquiring an additional 709,228 shares during the period. Finally, Nuveen LLC increased its position in Webster Financial by 109.3% during the fourth quarter. Nuveen LLC now owns 551,722 shares of the financial services provider’s stock worth $34,725,000 after acquiring an additional 288,174 shares during the period. 85.58% of the stock is owned by institutional investors.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.