Q2 2024 EPS Estimates for Webster Financial Co. Cut by Analyst (NYSE:WBS)

Webster Financial Co. (NYSE:WBS) – Analysts at Seaport Res Ptn decreased their Q2 2024 earnings per share estimates for shares of Webster Financial in a research report issued on Wednesday, April 24th. Seaport Res Ptn analyst L. Hunsicker now forecasts that the financial services provider will earn $1.39 per share for the quarter, down from their prior 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 earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The business had revenue of $667.10 million for the quarter, compared to the consensus estimate of $680.72 million. During the same quarter in the previous year, the company posted $1.49 EPS. Webster Financial’s revenue for the quarter was up .2% on a year-over-year basis.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group reduced their target price on shares of Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada dropped their target price on Webster Financial from $57.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods decreased their price target on Webster Financial from $64.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Morgan Stanley boosted their price objective on Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.23.

Webster Financial Stock Down 1.0 %

Shares of NYSE:WBS opened at $45.02 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. The firm has a market cap of $7.73 billion, a P/E ratio of 9.23, a P/E/G ratio of 0.37 and a beta of 1.33. Webster Financial has a 12 month low of $31.03 and a 12 month high of $53.39. The company’s 50-day moving average price is $47.88 and its two-hundred day moving average price is $46.48.

Webster Financial Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 3.55%. Webster Financial’s payout ratio is currently 32.79%.

Insider Activity

In other Webster Financial news, insider Christopher J. Motl sold 10,475 shares of the 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 sale, the insider now directly owns 63,306 shares in the company, valued at $3,317,234.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the transaction, the insider now owns 27,955 shares in the company, valued at approximately $1,330,658. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher J. Motl sold 10,475 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total value of $548,890.00. Following the sale, the insider now directly owns 63,306 shares of the company’s stock, valued at $3,317,234.40. The disclosure for this sale can be found here. Insiders sold a total of 25,975 shares of company stock valued at $1,341,095 in the last ninety days. 0.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WBS. EverSource Wealth Advisors LLC lifted its holdings in shares of Webster Financial by 29.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 255 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Webster Financial by 1.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 19,924 shares of the financial services provider’s stock worth $785,000 after acquiring an additional 263 shares during the last quarter. Spire Wealth Management grew its stake in shares of Webster Financial by 79.1% during the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 268 shares in the last quarter. Mariner LLC raised its holdings in shares of Webster Financial by 2.4% in the third quarter. Mariner LLC now owns 13,812 shares of the financial services provider’s stock valued at $557,000 after purchasing an additional 320 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Webster Financial by 2.5% in the third quarter. Teacher Retirement System of Texas now owns 13,537 shares of the financial services provider’s stock worth $546,000 after purchasing an additional 332 shares in the last quarter. Institutional investors 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.