Webster Financial (NYSE:WBS) Issues Earnings Results, Misses Expectations By $0.08 EPS

Webster Financial (NYSE:WBS) issued its quarterly earnings data on Tuesday. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08), Briefing.com reports. Webster Financial had a return on equity of 11.91% and a net margin of 19.81%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $671.91 million. During the same period last year, the company posted $1.50 EPS.

Webster Financial Price Performance

Shares of WBS traded up $2.17 during mid-day trading on Thursday, reaching $48.53. The company had a trading volume of 825,374 shares, compared to its average volume of 1,264,422. Webster Financial has a twelve month low of $36.36 and a twelve month high of $53.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $8.32 billion, a P/E ratio of 9.50, a P/E/G ratio of 0.56 and a beta of 1.30. The company’s 50-day moving average is $43.82 and its 200-day moving average is $46.47.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Monday, July 29th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 3.30%. Webster Financial’s dividend payout ratio is presently 32.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on WBS shares. Royal Bank of Canada decreased their target price on Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday. Citigroup reduced their price target on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. JPMorgan Chase & Co. cut their price objective on shares of Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Jefferies Financial Group lowered their target price on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and a consensus price target of $55.73.

Insider Buying and Selling

In other news, insider Daniel Bley sold 2,280 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total value of $102,144.00. Following the completion of the transaction, the insider now owns 28,693 shares in the company, valued at approximately $1,285,446.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO John R. Ciulla sold 8,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $48.04, for a total transaction of $384,320.00. Following the transaction, the chief executive officer now owns 237,049 shares in the company, valued at $11,387,833.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total transaction of $102,144.00. Following the completion of the sale, the insider now owns 28,693 shares in the company, valued at approximately $1,285,446.40. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by company insiders.

About Webster Financial

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.