Q3 2024 EPS Estimates for Webster Financial Co. Lowered by Analyst (NYSE:WBS)

Webster Financial Co. (NYSE:WBS) – Investment analysts at Wedbush dropped their Q3 2024 earnings per share estimates for shares of Webster Financial in a research report issued to clients and investors on Tuesday, September 24th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $1.34 for the quarter, down from their previous forecast of $1.39. The consensus estimate for Webster Financial’s current full-year earnings is $5.27 per share. Wedbush also issued estimates for Webster Financial’s Q4 2024 earnings at $1.39 EPS, FY2024 earnings at $5.00 EPS, Q1 2025 earnings at $1.37 EPS, Q2 2025 earnings at $1.45 EPS, Q3 2025 earnings at $1.52 EPS, Q4 2025 earnings at $1.61 EPS, FY2025 earnings at $5.95 EPS and FY2026 earnings at $6.75 EPS.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $671.91 million. During the same period last year, the company earned $1.50 earnings per share.

Several other equities analysts have also issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. decreased their target price on Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Royal Bank of Canada dropped their price target on Webster Financial from $54.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group decreased their price objective on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Barclays lowered their target price on Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Webster Financial currently has an average rating of “Moderate Buy” and an average price target of $55.36.

Webster Financial Stock Up 0.6 %

Shares of NYSE WBS opened at $46.39 on Thursday. The firm has a 50 day moving average price of $45.90 and a 200 day moving average price of $45.58. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $7.96 billion, a P/E ratio of 9.51, a P/E/G ratio of 0.69 and a beta of 1.28. Webster Financial has a 52-week low of $36.36 and a 52-week high of $53.39.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WBS. Rise Advisors LLC acquired a new position in Webster Financial during the first quarter worth approximately $29,000. Hantz Financial Services Inc. bought a new position in shares of Webster Financial during the 2nd quarter worth approximately $32,000. Mather Group LLC. increased its holdings in shares of Webster Financial by 7,650.0% during the 2nd quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 1,224 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Webster Financial in the 2nd quarter valued at $69,000. Finally, GAMMA Investing LLC lifted its holdings in Webster Financial by 30.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 377 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Webster Financial

In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the sale, the insider now directly owns 45,157 shares of the company’s stock, valued at approximately $2,215,853.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the transaction, the insider now owns 45,157 shares of the company’s stock, valued at approximately $2,215,853.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason A. Soto sold 1,650 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total value of $76,428.00. Following the completion of the sale, the insider now directly owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,650 shares of company stock valued at $706,098. Corporate insiders own 0.88% of the company’s stock.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Monday, July 29th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.45%. The ex-dividend date was Monday, July 29th. Webster Financial’s payout ratio is 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.