Webster Financial (WBS) Dips 4.9% as Q1 Earnings Miss Estimates [Yahoo! Finance]
Webster Financial Corporation (WBS)
Last webster financial corporation earnings: 4/21 07:30 am
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US:NYSE Investor Relations:
webster.gcs-web.com/investor-overview
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Source: Yahoo! Finance
Adjusted quarterly earnings per share (EPS) of $1.35 missed Zacks Consensus Estimate of $1.37. This compares unfavorably with earnings of $1.49 per share reported a year ago. Results were affected by a fall in both net interest income (NII) and deposit balances, along with elevated expenses. However, lower provisions and a rise in loan balances acted as tailwinds. The results excluded the charges related to the FDIC special assessment and the acquisition of Ametros in January 2024. After considering these charges, net income applicable to common shareholders was $212.2 million, down 2.2% from the prior-year quarter. Revenues Fall & Expenses Increase WBS' total revenues in the quarter dropped marginally year over year to $667.1 million. The top line lagged the Zacks Consensus Estimate of $672.03 million. NII decreased 4.6% year over year to $567.7 million. The net interest margin was 3.35%, down 31 basis points (bps). Non-interest income was $99.4 million, up 40.4% year ove
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WBS
News
- Webster Financial (NYSE:WBS) Is Due To Pay A Dividend Of $0.40 [Yahoo! Finance]Yahoo! Finance
- Webster Financial Co. (NYSE: WBS) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Webster Financial Corporation Declares Common and Preferred DividendsBusiness Wire
- Webster Financial Co. (NYSE: WBS) had its price target lowered by analysts at Royal Bank of Canada from $57.00 to $54.00. They now have an "outperform" rating on the stock.MarketBeat
- Webster Financial Co. (NYSE: WBS) had its price target lowered by analysts at Citigroup Inc. from $60.00 to $55.00. They now have a "buy" rating on the stock.MarketBeat
WBS
Earnings
- 4/23/24 - Miss
WBS
Sec Filings
- 5/2/24 - Form 4
- 5/1/24 - Form 144
- 4/26/24 - Form 8-K
- WBS's page on the SEC website