Webster Financial (NYSE:WBS) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Webster Financial (NYSE:WBS) issued its earnings results on Thursday. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01), Briefing.com reports. The firm had revenue of $647.62 million during the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same quarter in the previous year, the firm posted $1.55 earnings per share.

Webster Financial Trading Down 2.5 %

Shares of NYSE WBS opened at $52.91 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.86. Webster Financial has a 52-week low of $36.36 and a 52-week high of $54.38. The firm has a 50 day moving average price of $46.21 and a two-hundred day moving average price of $45.33. The stock has a market cap of $9.07 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 0.88 and a beta of 1.28.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays boosted their target price on shares of Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group dropped 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 report on Wednesday, July 3rd. Morgan Stanley dropped their target price on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. StockNews.com cut shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Wedbush upped their price objective on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total value of $76,428.00. Following the completion of the transaction, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the sale, the insider now directly owns 45,157 shares of the company’s stock, valued at approximately $2,215,853.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jason A. Soto sold 1,650 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction of $76,428.00. Following the completion of the sale, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Webster Financial

A number of institutional investors have recently modified their holdings of WBS. Dimensional Fund Advisors LP boosted its stake in shares of Webster Financial by 28.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock valued at $240,687,000 after purchasing an additional 1,206,575 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Webster Financial by 64.9% during the second quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider’s stock worth $69,927,000 after acquiring an additional 631,080 shares in the last quarter. Bank of Montreal Can boosted its stake in Webster Financial by 1,482.9% during the second quarter. Bank of Montreal Can now owns 339,246 shares of the financial services provider’s stock worth $14,801,000 after acquiring an additional 317,814 shares in the last quarter. Earnest Partners LLC boosted its stake in Webster Financial by 11.2% during the first quarter. Earnest Partners LLC now owns 3,072,624 shares of the financial services provider’s stock worth $155,997,000 after acquiring an additional 308,455 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Webster Financial by 12.9% during the second quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock worth $115,096,000 after acquiring an additional 301,935 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

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.