Q2 2024 EPS Estimates for Webster Financial Co. Cut by Seaport Res Ptn (NYSE:WBS)

Webster Financial Co. (NYSE:WBS) – Equities research analysts at Seaport Res Ptn dropped their Q2 2024 earnings per share estimates for Webster Financial in a research report issued on Wednesday, April 24th. Seaport Res Ptn analyst L. Hunsicker now anticipates that the financial services provider will post earnings of $1.39 per share for the quarter, down from their prior forecast of $1.60. The consensus estimate for Webster Financial’s current full-year earnings is $5.68 per share. Seaport Res Ptn also issued estimates for Webster Financial’s Q3 2024 earnings at $1.42 EPS, FY2024 earnings at $5.64 EPS, Q3 2025 earnings at $1.56 EPS, Q4 2025 earnings at $1.58 EPS and FY2025 earnings at $6.18 EPS.

Webster Financial (NYSE:WBS) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The business had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.49 earnings per share.

Other equities research analysts also recently issued reports about the company. Barclays lowered their target price on Webster Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a report on Friday. Royal Bank of Canada lowered their target price on Webster Financial from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday. Jefferies Financial Group lowered their target price on Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a report on Monday, April 8th. Finally, Morgan Stanley lifted their target price on Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and a consensus price target of $56.23.

Webster Financial Trading Down 1.0 %

Shares of WBS stock opened at $45.03 on Friday. The company has a market cap of $7.73 billion, a P/E ratio of 9.23, a PEG ratio of 0.38 and a beta of 1.33. The stock has a 50 day simple moving average of $47.84 and a two-hundred day simple moving average of $46.57. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 0.86. Webster Financial has a fifty-two week low of $31.03 and a fifty-two week high of $53.39.

Institutional Investors Weigh In On Webster Financial

Several institutional investors have recently bought and sold shares of WBS. Rise Advisors LLC purchased a new stake in Webster Financial during the 1st quarter valued at about $29,000. Spire Wealth Management lifted its holdings in Webster Financial by 79.1% in the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after buying an additional 268 shares during the period. NBC Securities Inc. purchased a new position in shares of Webster Financial in the 3rd quarter valued at approximately $32,000. Bruce G. Allen Investments LLC purchased a new position in shares of Webster Financial in the 4th quarter valued at approximately $42,000. Finally, Principal Securities Inc. purchased a new position in shares of Webster Financial in the 4th quarter valued at approximately $45,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Webster Financial

In related news, COO Luis Massiani sold 13,500 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction of $697,005.00. Following the sale, the chief operating officer now directly owns 89,621 shares in the company, valued at approximately $4,627,132.23. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Webster Financial news, COO Luis Massiani sold 13,500 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value of $697,005.00. Following the transaction, the chief operating officer now directly owns 89,621 shares in the company, valued at approximately $4,627,132.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,330,658. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,975 shares of company stock worth $1,341,095. 0.88% of the stock is owned by company insiders.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.55%. Webster Financial’s dividend payout ratio is presently 32.79%.

Webster Financial Company Profile

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.