Webster Financial (NYSE:WBS) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Webster Financial (NYSE:WBS) released its quarterly earnings results on Tuesday. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02), Briefing.com reports. The business had revenue of $667.10 million for the quarter, compared to the consensus estimate of $680.72 million. Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.49 EPS.

Webster Financial Stock Performance

Shares of NYSE:WBS traded down $0.28 on Wednesday, hitting $44.60. 375,435 shares of the company were exchanged, compared to its average volume of 1,148,116. The company’s 50 day moving average price is $47.97 and its two-hundred day moving average price is $46.50. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 0.38 and a beta of 1.33. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 0.85. Webster Financial has a one year low of $31.03 and a one year high of $53.39.

Analysts Set New Price Targets

Several research firms have weighed in on WBS. JPMorgan Chase & Co. cut their target price on Webster Financial from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday. Barclays started coverage on Webster Financial in a report on Friday, March 8th. They issued an “overweight” rating and a $70.00 target price for the company. Raymond James reiterated an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. Morgan Stanley boosted their price objective on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, Citigroup lowered their target price on shares of Webster Financial from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Webster Financial has an average rating of “Moderate Buy” and a consensus target price of $57.23.

Insider Activity at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Charles L. Wilkins sold 3,966 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $51.56, for a total value of $204,486.96. Following the sale, the insider now owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $95,200.00. Following the transaction, the insider now owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,941 shares of company stock worth $1,545,582. Company insiders own 0.72% of the company’s stock.

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.