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STAMFORD, Conn.--(BUSINESS WIRE)--Webster Lowers Prime Lending Rate to 8.00 Percent.
Webster Financial (WBS) reported earnings 30 days ago. What's next for the stock?
Webster Financial's (WBS) second-quarter 2024 results are affected by a decline in NII and non-interest income.
Webster Financial Corporation (NYSE:WBS ) Q2 2024 Earnings Conference Call July 23, 2024 9:00 AM ET Company Participants Emlen Harmon - Director, IR John Ciulla - CEO Glenn MacInnes - CFO Conference Call Participants Matthew Breese - Stephens Christopher McGratty - KBW Mark Fitzgibbon - Piper Sandler Steven Alexopoulos - JP Morgan Jared Shaw - Barclays. Manan Gosalia - Morgan Stanley Casey Haire - Jefferies Daniel Tamayo - Raymond James Bernard Von Gizycki - Deutsche Bank Timur Braziler - Wells Fargo Securities Laurie Hunsicker - Seaport Research Partners Operator Good morning.
Although the revenue and EPS for Webster Financial (WBS) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Webster Financial (WBS) came out with quarterly earnings of $1.26 per share, missing the Zacks Consensus Estimate of $1.34 per share. This compares to earnings of $1.50 per share a year ago.
Webster Financial Corporation stock was downgraded to "hold" in January after a 41% spike, but has since dropped 16.8%, and is now down some. Despite weak financial results in Q1 2024, shares are attractively priced on a relative basis, with low trading multiples compared to similar firms. With asset quality mixed and shares not yet cheap enough on an absolute basis, the stock isn't ready for an upgrade just yet, though it's inching closer that way.
Webster Financial (WBS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
STAMFORD, Conn.--(BUSINESS WIRE)--Webster Financial Corporation Appoints CFO Successor; Names New Board Member.
Webster Financial (WBS) is close to forming a private credit partnership with Marathon Asset. If finalized, it will underscore their shared commitment to delivering tailored financial solutions.