Webster Financial Co. Expected to Post Q2 2024 Earnings of $1.39 Per Share (NYSE:WBS)

Webster Financial Co. (NYSE:WBS) – Research analysts at Seaport Res Ptn cut their Q2 2024 EPS estimates for Webster Financial in a research note issued on Wednesday, April 24th. Seaport Res Ptn analyst L. Hunsicker now anticipates that the financial services provider will post earnings of $1.39 per share for the quarter, down from their previous forecast of $1.60. The consensus estimate for Webster Financial’s current full-year earnings is $5.72 per share. Seaport Res Ptn also issued estimates for Webster Financial’s Q3 2024 earnings at $1.42 EPS, FY2024 earnings at $5.64 EPS, Q3 2025 earnings at $1.56 EPS, Q4 2025 earnings at $1.58 EPS and FY2025 earnings at $6.18 EPS.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). 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 12.55% and a net margin of 21.09%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company posted $1.49 earnings per share.

Several other brokerages also recently issued reports on WBS. JPMorgan Chase & Co. lowered their price target on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday. Jefferies Financial Group reduced their price objective on shares of Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Morgan Stanley boosted their price objective on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Citigroup reduced their price objective on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Bank of America initiated coverage on shares of Webster Financial in a research note on Thursday, January 11th. They issued a “buy” rating and a $60.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.23.

Webster Financial Stock Down 0.1 %

Shares of NYSE:WBS opened at $45.48 on Friday. The company has a fifty day moving average of $47.94 and a 200-day moving average of $46.49. The company has a market capitalization of $7.81 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 0.86. Webster Financial has a 52-week low of $31.03 and a 52-week high of $53.39.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.52%. Webster Financial’s dividend payout ratio (DPR) is presently 32.79%.

Insider Transactions at Webster Financial

In other news, insider Christopher J. Motl sold 10,475 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the transaction, the insider now owns 63,306 shares of the company’s stock, valued at approximately $3,317,234.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Luis Massiani sold 13,500 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total value of $697,005.00. Following the sale, the chief operating officer now owns 89,621 shares in the company, valued at approximately $4,627,132.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher J. Motl sold 10,475 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total transaction of $548,890.00. Following the completion of the sale, the insider now owns 63,306 shares in the company, valued at approximately $3,317,234.40. The disclosure for this sale can be found here. Insiders have sold 25,975 shares of company stock valued at $1,341,095 in the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Webster Financial

A number of institutional investors and hedge funds have recently made changes to their positions in WBS. Norges Bank acquired a new stake in shares of Webster Financial in the 4th quarter worth about $97,217,000. FMR LLC increased its stake in Webster Financial by 22.6% in the 3rd quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock valued at $292,587,000 after buying an additional 1,339,862 shares during the last quarter. American Century Companies Inc. increased its stake in Webster Financial by 1,773.9% in the 3rd quarter. American Century Companies Inc. now owns 1,324,457 shares of the financial services provider’s stock valued at $53,389,000 after buying an additional 1,253,778 shares during the last quarter. Azora Capital LP increased its stake in Webster Financial by 146.3% in the 4th quarter. Azora Capital LP now owns 1,477,198 shares of the financial services provider’s stock valued at $74,983,000 after buying an additional 877,540 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Webster Financial by 12.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,916,013 shares of the financial services provider’s stock valued at $198,785,000 after buying an additional 430,331 shares during the last quarter. Institutional investors and hedge funds own 85.58% 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.