Webster Financial Co. (NYSE:WBS) to Post Q3 2024 Earnings of $1.39 Per Share, Wedbush Forecasts

Webster Financial Co. (NYSE:WBS) – Analysts at Wedbush decreased their Q3 2024 earnings per share (EPS) estimates for shares of Webster Financial in a research report issued on Tuesday, July 23rd. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will earn $1.39 per share for the quarter, down from their prior estimate of $1.49. The consensus estimate for Webster Financial’s current full-year earnings is $5.41 per share. Wedbush also issued estimates for Webster Financial’s Q4 2024 earnings at $1.45 EPS, FY2024 earnings at $5.45 EPS, Q1 2025 earnings at $1.44 EPS, Q2 2025 earnings at $1.53 EPS, Q3 2025 earnings at $1.60 EPS, Q4 2025 earnings at $1.64 EPS and FY2025 earnings at $6.20 EPS.

A number of other research analysts have also weighed in on the company. Citigroup reduced their price target on Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods decreased their price target on Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. Royal Bank of Canada dropped their price objective on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, Jefferies Financial Group cut their price target on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Webster Financial presently has an average rating of “Moderate Buy” and an average price target of $55.73.

Webster Financial Stock Performance

Shares of WBS opened at $49.24 on Thursday. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 0.57 and a beta of 1.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.86 and a current ratio of 0.85. Webster Financial has a 1 year low of $36.36 and a 1 year high of $53.39. The company’s 50 day simple moving average is $43.92 and its 200 day simple moving average is $46.47.

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

Hedge Funds Weigh In On Webster Financial

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its position in shares of Webster Financial by 29.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 255 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Webster Financial by 6.5% during the first quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $214,000 after acquiring an additional 255 shares during the period. US Bancorp DE grew its position in shares of Webster Financial by 3.6% during the first quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock worth $380,000 after acquiring an additional 260 shares during the last quarter. Spire Wealth Management increased its holdings in shares of 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 acquiring an additional 268 shares during the period. Finally, Wedmont Private Capital lifted its position in Webster Financial by 6.5% in the 1st quarter. Wedmont Private Capital now owns 6,054 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 367 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Insider Transactions at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $48.04, for a total value of $384,320.00. Following the transaction, the chief executive officer now owns 237,049 shares in the company, valued at approximately $11,387,833.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $48.04, for a total transaction of $384,320.00. Following the sale, the chief executive officer now directly owns 237,049 shares in the company, valued at approximately $11,387,833.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason A. Soto sold 1,650 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction of $76,428.00. Following the completion of the sale, the insider now directly owns 20,539 shares in the company, valued at $951,366.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,930 shares of company stock valued at $562,892. Corporate insiders own 0.88% of the company’s stock.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Monday, July 29th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, July 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.25%. Webster Financial’s dividend payout ratio is currently 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.