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

Webster Financial (NYSE:WBS) issued its quarterly earnings data 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 company had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.49 earnings per share.

Webster Financial Stock Up 0.2 %

Webster Financial stock traded up $0.08 during trading on Wednesday, reaching $44.96. 482,176 shares of the company’s stock were exchanged, compared to its average volume of 1,149,672. The company’s 50-day moving average is $47.97 and its two-hundred day moving average 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 52-week low of $31.03 and a 52-week high of $53.39. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 0.38 and a beta of 1.33.

Analysts Set New Price Targets

WBS has been the subject of several recent analyst reports. StockNews.com cut shares of Webster Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Barclays lowered their target price on shares of Webster Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday. Citigroup lowered their target price on shares of Webster Financial from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Finally, Royal Bank of Canada lowered their target price on shares of Webster Financial from $59.00 to $57.00 and set an “outperform” rating for the company in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.85.

Insider Buying and Selling

In related news, insider Charles L. Wilkins sold 3,966 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $51.56, for a total transaction of $204,486.96. Following the completion of the sale, the insider now directly owns 49,528 shares of the company’s stock, valued at approximately $2,553,663.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Webster Financial 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 transaction, the insider now owns 63,306 shares in the company, valued at approximately $3,317,234.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles L. Wilkins sold 3,966 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $51.56, for a total transaction of $204,486.96. Following the completion of the transaction, the insider now owns 49,528 shares in the company, valued at approximately $2,553,663.68. The disclosure for this sale can be found here. In the last three months, insiders sold 29,941 shares of company stock valued at $1,545,582. Company insiders own 0.72% of the company’s stock.

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.