Webster Financial Corporation (NYSE:WBS) issued its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.04, Morningstar.com reports. The firm had revenue of $262.50 million for the quarter, compared to analysts’ expectations of $260.91 million. Webster Financial Corporation had a net margin of 20.43% and a return on equity of 9.49%. During the same period in the prior year, the company earned $0.53 EPS.
Webster Financial Corporation (WBS) traded down 1.32% during midday trading on Wednesday, hitting $50.95. 129,681 shares of the company’s stock traded hands. The company has a market capitalization of $4.70 billion, a PE ratio of 21.23 and a beta of 1.25. The company has a 50 day moving average of $52.56 and a 200-day moving average of $51.97. Webster Financial Corporation has a 52 week low of $35.75 and a 52 week high of $57.50.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Monday, August 7th will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.01%. Webster Financial Corporation’s dividend payout ratio is currently 43.33%.
A number of brokerages recently commented on WBS. Jefferies Group LLC set a $53.00 price objective on shares of Webster Financial Corporation and gave the company a “hold” rating in a research note on Saturday, May 6th. BidaskClub raised shares of Webster Financial Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Zacks Investment Research cut shares of Webster Financial Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $55.00 price objective on shares of Webster Financial Corporation in a research note on Monday, April 10th. Finally, Piper Jaffray Companies reissued a “sell” rating and issued a $46.00 price objective on shares of Webster Financial Corporation in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $53.38.
In other Webster Financial Corporation news, EVP Harriet Munrett Wolfe sold 3,540 shares of the business’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $52.36, for a total transaction of $185,354.40. Following the sale, the executive vice president now owns 72,171 shares in the company, valued at approximately $3,778,873.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Daniel Bley sold 8,000 shares of Webster Financial Corporation stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $51.20, for a total value of $409,600.00. Following the transaction, the executive vice president now directly owns 25,657 shares in the company, valued at approximately $1,313,638.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,440 shares of company stock worth $641,772. Corporate insiders own 2.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC boosted its position in Webster Financial Corporation by 18.6% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,185 shares of the financial services provider’s stock valued at $155,000 after buying an additional 500 shares during the period. Flinton Capital Management LLC boosted its position in Webster Financial Corporation by 20.9% in the first quarter. Flinton Capital Management LLC now owns 3,152 shares of the financial services provider’s stock valued at $158,000 after buying an additional 544 shares during the period. Sky Investment Group LLC acquired a new position in Webster Financial Corporation during the second quarter valued at $200,000. HighTower Advisors LLC acquired a new position in Webster Financial Corporation during the first quarter valued at $215,000. Finally, Meadow Creek Investment Management LLC boosted its position in Webster Financial Corporation by 20.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,334 shares of the financial services provider’s stock valued at $217,000 after buying an additional 748 shares during the period. 96.82% of the stock is currently owned by institutional investors.
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Webster Financial Corporation Company Profile
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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