Webster Financial Corporation (NYSE:WBS) issued its quarterly earnings results on Thursday. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.03, Briefing.com reports. Webster Financial Corporation had a return on equity of 9.49% and a net margin of 20.43%. During the same period in the prior year, the firm earned $0.54 earnings per share.
Shares of Webster Financial Corporation (NYSE WBS) opened at 54.70 on Friday. The firm has a market cap of $5.04 billion, a P/E ratio of 22.79 and a beta of 1.26. Webster Financial Corporation has a 12-month low of $37.82 and a 12-month high of $57.50. The company’s 50 day moving average price is $50.36 and its 200-day moving average price is $50.51.
In other Webster Financial Corporation news, EVP Nitin J. Mhatre sold 31,940 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $51.34, for a total transaction of $1,639,799.60. Following the completion of the sale, the executive vice president now directly owns 23,120 shares of the company’s stock, valued at approximately $1,186,980.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel Bley sold 8,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $51.20, for a total value of $409,600.00. Following the sale, the executive vice president now directly owns 25,657 shares of the company’s stock, valued at $1,313,638.40. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
WBS has been the subject of several recent analyst reports. BidaskClub downgraded Webster Financial Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of Webster Financial Corporation in a report on Tuesday, June 27th. Zacks Investment Research raised Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Saturday, July 8th. Jefferies Group LLC reissued a “hold” rating and issued a $53.00 price target on shares of Webster Financial Corporation in a report on Friday, July 14th. Finally, Piper Jaffray Companies reaffirmed a “sell” rating and set a $46.00 target price on shares of Webster Financial Corporation in a report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.00.
About Webster Financial Corporation
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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