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

Webster Financial (NYSE:WBS) posted its quarterly earnings data on Thursday. The financial services provider reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01), Briefing.com reports. Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. During the same period last year, the firm posted $1.55 earnings per share.

Webster Financial Stock Performance

Webster Financial stock traded up $4.13 during midday trading on Thursday, hitting $52.75. 146,355 shares of the company were exchanged, compared to its average volume of 1,229,718. The business has a fifty day simple moving average of $45.83 and a two-hundred day simple moving average of $45.26. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $9.04 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 0.81 and a beta of 1.28. Webster Financial has a fifty-two week low of $36.36 and a fifty-two week high of $53.39.

Insider Buying and Selling at Webster Financial

In related news, insider Jason A. Soto sold 1,650 shares of the 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 sale, the insider now directly owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jason A. Soto sold 1,650 shares of Webster Financial stock in a transaction dated Wednesday, July 24th. The stock was 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 owns 20,539 shares in the company, valued at $951,366.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the completion of the transaction, the insider now directly owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on WBS shares. JPMorgan Chase & Co. dropped their target price on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Jefferies Financial Group cut their target price on Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Royal Bank of Canada lowered their price target on Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Barclays dropped their price target on Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Finally, Keefe, Bruyette & Woods reduced their price objective on 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 equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Webster Financial has a consensus rating of “Moderate Buy” and a consensus price target of $56.10.

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.