Webster Financial (NYSE:WBS) reported its quarterly earnings on July 23rd, revealing an EPS of $1.26, below the expected $1.34. The company generated $1.02 billion in revenue, surpassing the forecast of $671.91 million. Webster had a 19.81% net margin and an 11.81% return on equity, down from last year’s EPS of $1.50. Analysts predict $5 EPS for this fiscal year and $6 for the next.
Price Performance
WBS shares opened at $48.11. The stock’s 12-month range is $36.36 – $53.39, with a market cap of $8.25 billion. It has a P/E ratio of 9.86, a P/E/G ratio of 0.77, and a beta of 1.28. Current and quick ratios are 0.85; the debt-to-equity ratio is 0.44.
Dividend Announcement
Webster paid a quarterly dividend of $0.40 on August 8th, translating to an annual yield of 3.33%. Shareholders as of July 29th received this dividend, with a payout ratio of 32.79%.
Analyst Ratings
Recent evaluations include:
- Morgan Stanley lowered its target price from $57 to $54.
- Royal Bank of Canada reduced it from $54 to $51.
- Barclays cut it from $65 to $60.
- JPMorgan cut their target from $58 to $55.
- Jefferies reduced it from $56 to $51.
Currently, two analysts rate the stock as “hold,” while nine give it a “buy,” with an average price target of $56.10.
Insider Transactions
Insider Jason A. Soto sold 1,650 shares on July 24th, while Charles L. Wilkins sold 5,000 shares on July 26th. Insider ownership stands at 0.88% of the stock.
Company Overview
Webster Financial Corporation serves as the parent company of Webster Bank, providing various financial services across the U.S.
Further Reading
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