Webster Financial (NYSE:WBS) reported its quarterly earnings on July 23. The company had an earnings per share (EPS) of $1.26, below the expected $1.34. Revenue was $1.02 billion, exceeding the estimate of $671.91 million. Last year, Webster Financial reported a $1.50 EPS. Analysts predict an EPS of $5 for this fiscal year and $6 for the next.
Stock Performance
WBS shares opened at $48.11 on Tuesday, with a 12-month low of $36.36 and a high of $53.39. The market cap is $8.25 billion, with a P/E ratio of 9.86 and a beta of 1.28. Current and quick ratios are both 0.85, and the debt-to-equity ratio is 0.44.
Dividend Announcement
Webster declared a quarterly dividend of $0.40 per share, paid on August 8 to shareholders recorded on July 29. This equals an annual dividend of $1.60, yielding 3.33%. The dividend payout ratio is 32.79%.
Analyst Ratings
Analysts have updated their ratings for WBS. Morgan Stanley lowered its target price from $57 to $54. Royal Bank of Canada revised theirs from $54 to $51. Barclays set a new target at $60, while JPMorgan reduced theirs from $58 to $55. Jefferies lowered it to $51. Overall, two analysts hold the stock, and nine recommend buying it, giving an average rating of “Moderate Buy” with a target price of $56.10.
Insider Activity
Insider Jason A. Soto sold 1,650 shares on July 24 for $46.32 each, totaling $76,428. Another insider, Charles L. Wilkins, sold 5,000 shares on July 26 at $49.07 each, totaling $245,350. Insiders own 0.88% of the shares.
Company Overview
Webster Financial Corporation is the parent company of Webster Bank, offering various financial services across the U.S. through Commercial Banking, HSA Bank, and Consumer Banking segments.
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