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

Webster Financial Co. (NYSE:WBS - Free Report) - Research analysts at Seaport Res Ptn decreased 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 earn $1.39 per share for the quarter, down from their prior estimate of $1.60. The consensus estimate for Webster Financial's current full-year earnings is $5.72 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.

Several other research firms also recently issued reports on WBS. JPMorgan Chase & Co. decreased their price objective on shares of Webster Financial from $65.00 to $63.00 and set an "overweight" rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods decreased their price objective on shares of Webster Financial from $64.00 to $58.00 and set an "outperform" rating for the company in a research note on Wednesday. Raymond James reaffirmed an "outperform" rating and issued a $60.00 target price on shares of Webster Financial in a report on Tuesday, March 26th. Barclays reduced their target price on shares of Webster Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Jefferies Financial Group reduced their target price on shares of Webster Financial from $65.00 to $56.00 and set a "buy" rating for the company in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Webster Financial currently has a consensus rating of "Moderate Buy" and an average price target of $56.23.

Webster Financial Stock Performance

NYSE WBS traded down $0.46 during trading hours on Friday, hitting $45.02. The company had a trading volume of 1,594,339 shares, compared to its average volume of 1,167,191. 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 1-year low of $31.03 and a 1-year high of $53.39. The company has a market cap of $7.73 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33. The business has a 50 day moving average of $47.88 and a 200-day moving average of $46.48.

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

Institutional Trading of Webster Financial

Institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its holdings in shares of Webster Financial by 22.6% during the 3rd quarter. FMR LLC now owns 7,258,411 shares of the financial services provider's stock valued at $292,587,000 after acquiring an additional 1,339,862 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Webster Financial by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,916,013 shares of the financial services provider's stock valued at $198,785,000 after acquiring an additional 430,331 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Webster Financial by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,732,942 shares of the financial services provider's stock valued at $110,165,000 after acquiring an additional 48,445 shares in the last quarter. Earnest Partners LLC lifted its holdings in shares of Webster Financial by 8.4% during the 3rd quarter. Earnest Partners LLC now owns 2,394,951 shares of the financial services provider's stock valued at $96,540,000 after acquiring an additional 184,905 shares in the last quarter. Finally, Davis Asset Management L.P. lifted its holdings in shares of Webster Financial by 14.3% during the 4th quarter. Davis Asset Management L.P. now owns 2,000,000 shares of the financial services provider's stock valued at $101,520,000 after acquiring an additional 250,000 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were 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 directly owns 27,955 shares of the company's stock, valued at $1,330,658. The sale was disclosed in a filing with the SEC, which is available at this link. In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were 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 directly owns 27,955 shares of the company's stock, valued at $1,330,658. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Christopher J. Motl sold 10,475 shares of the stock in a transaction dated 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 of the company's stock, valued at $3,317,234.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,975 shares of company stock valued at $1,341,095. Corporate insiders own 0.88% of the company's stock.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.55%. Webster Financial's dividend payout ratio (DPR) is presently 32.79%.

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.