Q3 2024 EPS Estimates for Webster Financial Co. Decreased by Wedbush (NYSE:WBS)

Webster Financial Co. (NYSE:WBS - Free Report) - Stock analysts at Wedbush decreased their Q3 2024 earnings per share (EPS) estimates for Webster Financial in a research note issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn $1.54 per share for the quarter, down from their prior forecast of $1.56. The consensus estimate for Webster Financial's current full-year earnings is $5.89 per share. Wedbush also issued estimates for Webster Financial's Q4 2024 earnings at $1.57 EPS and FY2025 earnings at $6.60 EPS.

Webster Financial (NYSE:WBS - Get Free Report) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.02). The business had revenue of $996.96 million for the quarter, compared to the consensus estimate of $674.82 million. Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. During the same quarter in the previous year, the company posted $1.60 EPS.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. upgraded Webster Financial from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $60.00 to $65.00 in a report on Wednesday, January 24th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $64.00 price objective on shares of Webster Financial in a report on Tuesday. Raymond James reissued an "outperform" rating and issued a $60.00 target price on shares of Webster Financial in a research report on Tuesday. StockNews.com raised Webster Financial from a "sell" rating to a "hold" rating in a research report on Thursday. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $59.00 target price on shares of Webster Financial in a research note on Wednesday, January 24th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Webster Financial has an average rating of "Moderate Buy" and a consensus price target of $57.31.

Webster Financial Trading Down 0.1 %

Shares of WBS stock traded down $0.04 on Friday, reaching $50.77. 1,017,886 shares of the stock were exchanged, compared to its average volume of 1,047,400. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.85 and a quick ratio of 0.85. Webster Financial has a one year low of $31.03 and a one year high of $53.39. The stock has a market cap of $8.72 billion, a PE ratio of 10.38, a P/E/G ratio of 0.34 and a beta of 1.32. The stock has a 50 day moving average price of $48.55 and a 200 day moving average price of $45.61.

Institutional Investors Weigh In On Webster Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Webster Financial by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,976 shares of the financial services provider's stock worth $51,556,000 after purchasing an additional 21,026 shares during the period. Hudson Valley Investment Advisors Inc. ADV grew its stake in shares of Webster Financial by 98.1% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 149,258 shares of the financial services provider's stock worth $7,576,000 after acquiring an additional 73,924 shares during the last quarter. FDx Advisors Inc. increased its holdings in shares of Webster Financial by 7.6% during the third quarter. FDx Advisors Inc. now owns 5,753 shares of the financial services provider's stock valued at $232,000 after acquiring an additional 408 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Webster Financial by 58.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 319,379 shares of the financial services provider's stock valued at $12,874,000 after purchasing an additional 117,437 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Webster Financial by 15.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 83,725 shares of the financial services provider's stock valued at $3,375,000 after purchasing an additional 11,387 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Webster Financial news, insider Charles L. Wilkins sold 3,966 shares of the business's stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $51.56, for a total transaction of $204,486.96. Following the transaction, the insider now owns 49,528 shares in the company, valued at $2,553,663.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction on Thursday, February 29th. The stock was 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 directly owns 27,955 shares in the company, valued at $1,330,658. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charles L. Wilkins sold 3,966 shares of the firm's stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $51.56, for a total transaction of $204,486.96. Following the completion of the transaction, the insider now directly owns 49,528 shares in the company, valued at approximately $2,553,663.68. The disclosure for this sale can be found here. Insiders sold a total of 34,941 shares of company stock worth $1,796,482 over the last three months. 0.88% of the stock is owned by insiders.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 2nd. This represents a $1.60 annualized dividend and a yield of 3.15%. Webster Financial's payout ratio is presently 32.72%.

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.