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

Webster Financial Co. (NYSE:WBS) – Research analysts at Wedbush dropped their Q2 2024 earnings per share (EPS) estimates for Webster Financial in a research report issued on Tuesday, April 23rd. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of $1.35 for the quarter, down from their prior forecast of $1.45. The consensus estimate for Webster Financial’s current full-year earnings is $5.72 per share. Wedbush also issued estimates for Webster Financial’s Q3 2024 earnings at $1.50 EPS and FY2024 earnings at $5.80 EPS.

Webster Financial (NYSE:WBS) last posted its quarterly 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). The company had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $1.49 EPS.

Several other research firms also recently commented on WBS. Royal Bank of Canada reduced their price objective on Webster Financial from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday. Citigroup cut their price target on Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday. Jefferies Financial Group lowered their price objective on shares of Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Barclays dropped their target price on shares of Webster Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Morgan Stanley boosted their price target on shares of Webster Financial from $51.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.23.

Webster Financial Stock Performance

Shares of NYSE:WBS opened at $45.02 on Friday. The firm’s 50 day simple moving average is $47.88 and its 200-day simple moving average is $46.48. 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 one year low of $31.03 and a one year high of $53.39. The firm has a market cap of $7.73 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Webster Financial by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,278,976 shares of the financial services provider’s stock worth $51,556,000 after purchasing an additional 21,026 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its stake in Webster Financial by 98.1% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 149,258 shares of the financial services provider’s stock valued at $7,576,000 after acquiring an additional 73,924 shares during the period. FDx Advisors Inc. boosted its holdings in shares of Webster Financial by 7.6% in the 3rd quarter. FDx Advisors Inc. now owns 5,753 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 408 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Webster Financial by 58.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 319,379 shares of the financial services provider’s stock valued at $12,874,000 after acquiring an additional 117,437 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Webster Financial by 15.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 83,725 shares of the financial services provider’s stock worth $3,375,000 after acquiring an additional 11,387 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Insider Activity at Webster Financial

In other news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction on 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 directly owns 27,955 shares of the company’s stock, valued at $1,330,658. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the sale, the insider now owns 27,955 shares of the company’s stock, valued at $1,330,658. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christopher J. Motl sold 10,475 shares of the company’s 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 in the company, valued at approximately $3,317,234.40. The disclosure for this sale can be found here. Insiders sold 25,975 shares of company stock valued at $1,341,095 over the last 90 days. Insiders own 0.88% of the company’s stock.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.55%. Webster Financial’s dividend payout ratio (DPR) is presently 32.79%.

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.