Webster Financial (NYSE:WBS) Issues 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 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02), Briefing.com reports. Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The business had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter last year, the business posted $1.49 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year.

Webster Financial Stock Performance

Webster Financial stock traded down $0.28 during mid-day trading on Wednesday, hitting $44.60. The company had a trading volume of 375,435 shares, compared to its average volume of 1,148,116. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 9.13, a P/E/G ratio of 0.38 and a beta of 1.33. Webster Financial has a 12-month low of $31.03 and a 12-month high of $53.39. The company’s fifty day moving average is $47.97 and its 200-day moving average is $46.50. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41.

Insider Activity

In other Webster Financial news, insider Christopher J. Motl sold 10,475 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the transaction, the insider now owns 63,306 shares in the company, valued at $3,317,234.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Webster Financial news, insider Christopher J. Motl sold 10,475 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the completion of the transaction, the insider now directly owns 63,306 shares in the company, valued at $3,317,234.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the completion of the sale, the insider now owns 27,955 shares in the company, valued at approximately $1,330,658. The disclosure for this sale can be found here. Insiders sold a total of 29,941 shares of company stock valued at $1,545,582 in the last three months. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America started coverage on shares of Webster Financial in a research report on Thursday, January 11th. They issued a “buy” rating and a $60.00 price objective for the company. Royal Bank of Canada cut their price target on shares of Webster Financial from $59.00 to $57.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 9th. Jefferies Financial Group lowered their price objective on shares of Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Raymond James reissued an “outperform” rating and issued a $60.00 target price on shares of Webster Financial in a research report on Tuesday, March 26th. Finally, Morgan Stanley boosted their price target on Webster Financial from $51.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Webster Financial currently has an average rating of “Moderate Buy” and an average price target of $57.23.

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.