Webster Financial (NYSE:WBS – Get Free Report) posted its quarterly earnings data on Tuesday. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.01), FiscalAI reports. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $755.80 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.
Webster Financial Price Performance
WBS traded up $0.83 during midday trading on Tuesday, reaching $76.18. 2,803,173 shares of the company’s stock were exchanged, compared to its average volume of 3,784,192. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The business has a 50-day simple moving average of $74.25 and a two-hundred day simple moving average of $71.06. The firm has a market capitalization of $12.34 billion, a price-to-earnings ratio of 12.47 and a beta of 1.00. Webster Financial has a one year low of $52.69 and a one year high of $77.69.
Webster Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. Webster Financial’s dividend payout ratio (DPR) is currently 26.19%.
Analysts Set New Price Targets
Read Our Latest Report on Webster Financial
Hedge Funds Weigh In On Webster Financial
A number of hedge funds have recently modified their holdings of the stock. Curi Capital LLC raised its position in Webster Financial by 0.3% in the 2nd quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider’s stock valued at $3,740,000 after buying an additional 182 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Webster Financial by 27.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 183 shares during the last quarter. Kestra Advisory Services LLC grew its stake in shares of Webster Financial by 2.9% in the 4th quarter. Kestra Advisory Services LLC now owns 6,533 shares of the financial services provider’s stock worth $411,000 after acquiring an additional 187 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Webster Financial by 6.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,409 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 214 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Webster Financial by 8.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,844 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 305 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.
Webster Financial Company Profile
Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.
In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.
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