Q3 2024 Earnings Estimate for Webster Financial Co. (NYSE:WBS) Issued By Wedbush

Webster Financial Co. (NYSE:WBS - Free Report) - Equities researchers at Wedbush lowered their Q3 2024 earnings per share (EPS) estimates for shares of Webster Financial in a research note issued 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.

Several other equities analysts also recently weighed in on WBS. Jefferies Financial Group dropped their price target 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. Royal Bank of Canada dropped their price target on Webster Financial from $54.00 to $51.00 and set an "outperform" rating for the company in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods dropped their price target on Webster Financial from $58.00 to $55.00 and set an "outperform" rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. dropped their price target on Webster Financial from $63.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, June 27th. Finally, Barclays dropped their price target on Webster Financial from $65.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.36.

Webster Financial Price Performance

WBS stock traded up $0.66 during midday trading on Thursday, hitting $46.12. 1,195,859 shares of the stock were exchanged, compared to its average volume of 1,242,819. The stock's 50-day moving average price is $45.93 and its 200-day moving average price is $45.60. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.69 and a beta of 1.28. Webster Financial has a fifty-two week low of $36.36 and a fifty-two week high of $53.39. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 0.85.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $671.91 million. Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. During the same period in the prior year, the firm posted $1.50 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WBS. Rise Advisors LLC acquired a new position in shares of Webster Financial in the first quarter worth about $29,000. Hantz Financial Services Inc. acquired a new position in shares of Webster Financial in the second quarter worth about $32,000. Mather Group LLC. lifted its stake in shares of Webster Financial by 7,650.0% in the second 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 in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Webster Financial in the second quarter worth about $69,000. Finally, GAMMA Investing LLC lifted its stake in shares of Webster Financial by 30.1% in the second quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider's stock worth $71,000 after acquiring an additional 377 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the business's stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $48.04, for a total transaction of $384,320.00. Following the completion of the sale, the chief executive officer now owns 237,049 shares of the company's stock, valued at $11,387,833.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the business's stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $48.04, for a total transaction of $384,320.00. Following the completion of the sale, the chief executive officer now owns 237,049 shares of the company's stock, valued at $11,387,833.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value 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 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. Company insiders own 0.88% of the company's stock.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Monday, July 29th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Monday, July 29th. Webster Financial's dividend payout ratio (DPR) is presently 32.79%.

Webster Financial Company Profile

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.