속보 • May 19
Webster Financial Faces Disclosure Lawsuits and Investigation Over Santander Acquisition Terms Webster Financial is the target of a two-step merger and statutory share exchange in which Banco Santander plans to acquire the company using a mix of cash and Santander American Depository Shares.
Ahead of a May 26, 2026 stockholder meeting to vote on the transaction, Webster has received multiple demand letters and three shareholder lawsuits alleging inadequate disclosure in the definitive proxy statement.
Webster views the legal claims as without merit but is issuing supplemental proxy disclosures and faces a separate independent investigation into whether the board met its fiduciary duties and whether the deal terms fairly reflect shareholder value.
The key issue for investors is whether the additional disclosures and investigations change the risk-reward trade-off of this proposed acquisition or simply add legal noise around an otherwise straightforward deal process.
Shareholders may want to pay close attention to the supplemental proxy materials and the outcomes of the independent investigation, since any findings or further legal challenges could affect the timing and terms of the transaction. Declared Dividend • May 03
First quarter dividend of US$0.40 announced Dividend of US$0.40 is the same as last year. Ex-date: 11th May 2026 Payment date: 21st May 2026 Dividend yield will be 2.2%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (26% payout ratio) and is expected to be well covered in 3 years' time (23% forecast payout ratio). The dividend has increased by an average of 5.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 공시 • May 01
Webster Financial Corporation announces Quarterly dividend, payable on May 21, 2026 Webster Financial Corporation announced Quarterly dividend of USD 0.4000 per share payable on May 21, 2026, ex-date on May 11, 2026 and record date on May 11, 2026. Reported Earnings • Apr 29
First quarter 2026 earnings: EPS misses analyst expectations First quarter 2026 results: EPS: US$1.50 (up from US$1.30 in 1Q 2025). Revenue: US$681.9m (up 8.7% from 1Q 2025). Net income: US$239.3m (up 8.6% from 1Q 2025). Profit margin: 35% (in line with 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.6%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Apr 29
Webster Financial Corporation Reports Net Charge Offs for the First Quarter Ended March 31, 2026 Webster Financial Corporation reported net charge offs for the first quarter ended March 31, 2026. For the period, the company reported total net charge-offs of $41,216,000 compared to $54,957,000 a year ago. 공시 • Apr 10
Webster Financial Corporation to Report Q1, 2026 Results on Apr 28, 2026 Webster Financial Corporation announced that they will report Q1, 2026 results After-Market on Apr 28, 2026 Reported Earnings • Mar 05
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: US$5.91 (up from US$4.38 in FY 2024). Revenue: US$2.69b (up 14% from FY 2024). Net income: US$974.9m (up 31% from FY 2024). Profit margin: 36% (up from 31% in FY 2024). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.42% (no change from 3.42% in FY 2024). Cost-to-income ratio: 46.0% (up from 45.4% in FY 2024). Non-performing loans: 0.88% (no change from 0.88% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Feb 04
Banco Santander, S.A. (BME:SAN) signed a definitive agreement to acquire Webster Financial Corporation (NYSE:WBS) for $12.1 billion. Banco Santander, S.A. (BME:SAN) signed a definitive agreement to acquire Webster Financial Corporation (NYSE:WBS) for $12.1 billion on February 3, 2026. A cash consideration of $7.86 billion valued at $48.75 per share will be paid by Banco Santander, S.A. and 2.0548 Santander shares in the form of American Depositary Shares representing $26.25 per Webster share. The combination is also expected to deliver significant combined cost synergies of approximately $800 million. The consideration mix represents 65% cash and 35% newly issued Santander shares in the form of American Depositary Shares. The transaction is self-funded through excess capital and future capital generation, enhancing Santander’s capital flexibility and long-term value creation capacity.
Christiana Riley will remain Santander’s country head in the U.S. and Santander Holdings USA (‘SHUSA’) Chief Executive Officer (‘CEO’). Webster’s current CEO, John Ciulla, will be the CEO of Santander Bank NA (‘SBNA’) into which Webster’s businesses will be integrated. Luis Massiani, Webster’s President and Chief Operating Officer (‘COO’), will be COO of both SHUSA and SBNA with responsibility for leading the integration. Mr. Ciulla and Mr. Massiani will both continue to be based in Webster’s existing headquarters in Stamford, Connecticut, which will be a core corporate office for Santander, alongside its corporate offices in Boston, New York, Miami and Dallas. Tim Ryan will continue to chair the board of directors of SHUSA.Until the transaction closes, Santander and Webster will continue to operate as separate companies, and there will be no changes to Santander or Webster customer accounts, branch access or day-to-day service.
The transaction is expected to deliver earnings per share accretion of approximately 7-8% for Santander shareholders by 2028 and the combination is also expected to deliver significant combined cost synergies of approximately $800 million. Under the terms of the definitive agreement, which has been unanimously approved by the board of directors of Webster and the relevant bodies of Santander, Webster will become a wholly-owned subsidiary of Santander.
The transaction is subject to approval of offer by acquirer shareholders, approval by regulatory board and approval of offer by target shareholders. The expected completion of the transaction is in in the second half of 2026.
Centerview Partners LLC acted as financial advisor for Banco Santander, S.A. Goldman Sachs & Co. LLC acted as financial advisor for Banco Santander, S.A. Bank of America Europe DAC acted as financial advisor for Banco Santander, S.A. Davis Polk & Wardwell LLP acted as legal advisor for Banco Santander, S.A. Uría Menéndez Abogados, S.L.P. acted as legal advisor for Banco Santander, S.A. J.P. Morgan Securities LLC acted as financial advisor for Webster Financial Corporation. J.P. Morgan Securities LLC acted as fairness opinion provider for Webster Financial Corporation. Wachtell, Lipton, Rosen & Katz LLP acted as legal advisor for Webster Financial Corporation. Piper Sandler & Co. acted as financial advisor for Webster Financial Corporation. Declared Dividend • Feb 01
Fourth quarter dividend of US$0.40 announced Dividend of US$0.40 is the same as last year. Ex-date: 9th February 2026 Payment date: 19th February 2026 Dividend yield will be 2.4%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (27% payout ratio) and is expected to be well covered in 3 years' time (21% forecast payout ratio). The dividend has increased by an average of 5.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 23% over the next 2 years, which should provide support to the dividend and adequate earnings cover. 공시 • Jan 29
Webster Financial Corporation Declares Quarterly Cash Dividend on Common Stock, Payable on February 19, 2026 Webster Financial Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.40 per share on its common stock. The dividend on common shares will be payable February 19, 2026, to shareholders of record as of February 9, 2026. Reported Earnings • Jan 23
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: US$5.98 (up from US$4.38 in FY 2024). Revenue: US$2.69b (up 14% from FY 2024). Net income: US$986.2m (up 33% from FY 2024). Profit margin: 37% (up from 31% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 8.4% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 8% per year. 공시 • Jan 23
Webster Financial Corporation Reports Unaudited Net Charge Offs for the Fourth Quarter December 31, 2025 Webster Financial Corporation reported unaudited net charge offs for the fourth quarter December 31, 2025. For the quarter, the company reported Total net charge-offs of $49,491,000 against $60,871,000 a year ago. 공시 • Jan 12
Webster Financial Corporation and Webster Bank, N.A. Announces Chief Accounting Officer Changes, Effective January 6, 2026 On January 6, 2026, Webster Financial Corporation (the “Company”), the holding company for Webster Bank, National Association (the “Bank” and, together with the Company, “Webster”), appointed Kristen Antonopoulos as the Chief Accounting Officer of Webster. In connection with Ms. Antonopoulos’ appointment, Gregory S. Madar has relinquished the role of Interim Chief Accounting Officer for Webster. Ms. Antonopoulos, age 43, has over 20 years of relevant experience. She previously worked for American Express in a variety of roles from 2006 to 2025, and most recently served as the Vice President – Finance since 2020. Ms. Antonopoulos received a Bachelor of Science in Accounting from Western Connecticut State University and an Master of Business Administration in Finance and Accounting from New York University. 공시 • Jan 07
Webster Financial Corporation to Report Q4, 2025 Results on Jan 23, 2026 Webster Financial Corporation announced that they will report Q4, 2025 results at 7:30 AM, US Eastern Standard Time on Jan 23, 2026 Declared Dividend • Nov 02
Third quarter dividend of US$0.40 announced Dividend of US$0.40 is the same as last year. Ex-date: 10th November 2025 Payment date: 20th November 2025 Dividend yield will be 2.8%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (30% payout ratio) and is expected to be well covered in 3 years' time (24% forecast payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 25% over the next 2 years, which should provide support to the dividend and adequate earnings cover. 공시 • Oct 30
Webster Financial Corporation Declares Quarterly Cash Dividend, Payable on November 20, 2025 Webster Financial Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.40 per share on its common stock. The dividend on common shares will be payable November 20, 2025, to shareholders of record as of November 10, 2025. Reported Earnings • Oct 20
Third quarter 2025 earnings: Revenues and EPS in line with analyst expectations Third quarter 2025 results: EPS: US$1.55 (up from US$1.10 in 3Q 2024). Revenue: US$688.6m (up 16% from 3Q 2024). Net income: US$254.1m (up 36% from 3Q 2024). Profit margin: 37% (up from 32% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 1% per year. 공시 • Oct 17
Webster Financial Corporation Reports Net-Charge Offs for the Third Quarter Ended September 30, 2025 Webster Financial Corporation reported net-charge offs for the third quarter ended September 30, 2025. For the quarter, the company reported Net charge-offs were $38.4 million, compared to $36.4 million in the prior quarter, and $35.4 million a year ago. The ratio of net charge-offs to average loans and leases was 0.28%, compared to 0.27% in both the prior quarter and a year ago. 공시 • Oct 10
Webster Financial Corporation to Report Q3, 2025 Results on Oct 17, 2025 Webster Financial Corporation announced that they will report Q3, 2025 results at 7:30 AM, US Eastern Standard Time on Oct 17, 2025 Declared Dividend • Aug 03
Second quarter dividend of US$0.40 announced Dividend of US$0.40 is the same as last year. Ex-date: 11th August 2025 Payment date: 21st August 2025 Dividend yield will be 2.9%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (32% payout ratio) and is expected to be well covered in 3 years' time (25% forecast payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Jul 31
Price target increased by 7.2% to US$70.00 Up from US$65.31, the current price target is an average from 15 analysts. New target price is 21% above last closing price of US$57.65. Stock is up 25% over the past year. The company is forecast to post earnings per share of US$5.86 for next year compared to US$4.38 last year. 공시 • Jul 31
Webster Financial Corporation Declares Common Share Dividends, Payable on August 21, 2025 Webster Financial Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.40 per share on its common stock. The dividend on common shares will be payable August 21, 2025, to shareholders of record as of August 11, 2025. Recent Insider Transactions • Jul 30
Independent Director recently sold US$996k worth of stock On the 28th of July, William Atwell sold around 17k shares on-market at roughly US$59.20 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$6.3m more than they bought in the last 12 months. 공시 • Jul 22
Webster Financial Corporation and Webster Bank, National Association Announce Executive Changes On July 18, 2025, Albert J. Wang informed Webster Financial Corporation (the “Company”) and Webster Bank, National Association (the “Bank”) of his decision to resign as Executive Vice President and Chief Accounting Officer of the Company and the Bank to pursue another professional opportunity. Mr. Wang will continue to serve the Company and the Bank in his current role through September 2, 2025, to assist in the transition process. Effective September 3, 2025, upon Mr. Wang’s resignation, Gregory S. Madar, Senior Managing Director, Corporate Controller, will serve as Interim Chief Accounting Officer while the Company conducts an internal and external search for Mr. Wang’s successor. Mr. Madar has served as Corporate Controller of the Bank since November 2023, and previously served as Chief Financial Officer of HSA Bank, a division of the Bank, from 2017 to 2023, and Chief Accounting Officer from 2011 to 2017. Reported Earnings • Jul 18
Second quarter 2025 earnings: EPS exceeds analyst expectations Second quarter 2025 results: EPS: US$1.52 (up from US$1.03 in 2Q 2024). Revenue: US$669.3m (up 21% from 2Q 2024). Net income: US$251.7m (up 43% from 2Q 2024). Profit margin: 38% (up from 32% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.9%. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 11% per year. 공시 • Jul 17
Webster Financial Corporation Announces Net Charge Offs for Second Quarter Ended June 30, 2025 Webster Financial Corporation announce net charge offs for second quarter ended June 30, 2025. For the quarter, the company announced net charge-offs of $36.4 million, compared to $55.0 million in the prior quarter, and $33.1 million a year ago. The ratio of net charge-offs to average loans and leases was 0.2%, compared to 0.42% in the prior quarter, and 0.26 % a year ago. 공시 • Jul 08
Webster Financial Corporation to Report Q2, 2025 Results on Jul 17, 2025 Webster Financial Corporation announced that they will report Q2, 2025 results at 7:30 AM, US Eastern Standard Time on Jul 17, 2025 공시 • Jun 19
Webster Financial Corporation Appoints Andrea Mills as Executive Managing Director, Effective Date Is July 1, 2025 Webster Financial Corporation appointed Andrea Mills as Executive Managing Director, Effective date is July 1, 2025. Mills, a member of the executive team since 2018, most recently served as the Chief Client Officer of Ametros. As President, she will now oversee all aspects of Ametros’ operations and continue leading the company’s efforts to improve outcomes for injured individuals after an insurance settlement. Declared Dividend • May 04
First quarter dividend of US$0.40 announced Dividend of US$0.40 is the same as last year. Ex-date: 12th May 2025 Payment date: 22nd May 2025 Dividend yield will be 3.2%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by earnings (27% payout ratio) and is expected to be well covered in 3 years' time (26% forecast payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 59% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 공시 • May 01
Webster Financial Corporation Declares Quarterly Cash Dividend on its Common Stock, Payable on May 22, 2025 Webster Financial Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.40 per share on its common stock. The dividend on common shares will be payable May 22, 2025, to shareholders of record as of May 12, 2025. Reported Earnings • Apr 25
First quarter 2025 earnings: EPS misses analyst expectations First quarter 2025 results: EPS: US$1.30 (up from US$1.23 in 1Q 2024). Revenue: US$627.3m (flat on 1Q 2024). Net income: US$220.4m (up 4.9% from 1Q 2024). Profit margin: 35% (up from 34% in 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.6%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. 공시 • Apr 24
Webster Financial Corporation Reports Net Charge-Offs for the First Quarter Ended March 31, 2025 Webster Financial Corporation Reported net charge-offs for the first quarter ended March 31, 2025. For the quarter, the company reported Total net charge-offs of $54,957,000 compared to $37,489,000 a year ago. 공시 • Apr 08
Webster Financial Corporation to Report Q1, 2025 Results on Apr 24, 2025 Webster Financial Corporation announced that they will report Q1, 2025 results at 7:30 AM, Eastern Standard Time on Apr 24, 2025 Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$43.95, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Banks industry in the US. Total loss to shareholders of 2.9% over the past three years. 공시 • Apr 02
Webster Financial Corporation Announces Retirement of Dan Bley as Executive Vice President and Chief Risk Officer Webster Financial Corporation announced that after 14 years with the Company, Dan Bley intends to retire from his role as Executive Vice President and Chief Risk Officer (CRO). Mr. Bley will continue to serve as the Company’s CRO until a successor is appointed and will then serve in an advisory role to ensure a smooth transition. Reported Earnings • Mar 05
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: US$4.38 (down from US$4.91 in FY 2023). Revenue: US$2.37b (down 5.6% from FY 2023). Net income: US$744.1m (down 12% from FY 2023). Profit margin: 31% (down from 34% in FY 2023). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 3.42% (down from 3.52% in FY 2023). Cost-to-income ratio: 45.4% (up from 42.2% in FY 2023). Non-performing loans: 0.88% (up from 0.41% in FY 2023). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 7.7%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Feb 23
Independent Director recently sold US$781k worth of stock On the 19th of February, Laurence Morse sold around 13k shares on-market at roughly US$59.07 per share. This transaction amounted to 36% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$5.5m more than they bought in the last 12 months. Declared Dividend • Feb 02
Fourth quarter dividend of US$0.40 announced Dividend of US$0.40 is the same as last year. Ex-date: 10th February 2025 Payment date: 20th February 2025 Dividend yield will be 2.7%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (37% payout ratio) and is expected to be well covered in 3 years' time (25% forecast payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 64% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 공시 • Jan 30
Webster Financial Corporation Declares Quarterly Cash Dividend on Common Shares, Payable on February 20, 2025 Webster Financial Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.40 per share on its common stock. The dividend on common shares will be payable on February 20, 2025, to shareholders of record as of February 10, 2025. Reported Earnings • Jan 17
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: US$4.38 (down from US$4.91 in FY 2023). Revenue: US$2.37b (down 5.3% from FY 2023). Net income: US$752.1m (down 11% from FY 2023). Profit margin: 32% (down from 34% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 7.7%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. 공시 • Jan 08
Webster Financial Corporation to Report Q4, 2024 Results on Jan 17, 2025 Webster Financial Corporation announced that they will report Q4, 2024 results at 7:30 AM, US Eastern Standard Time on Jan 17, 2025 Recent Insider Transactions • Nov 08
Insider recently sold US$582k worth of stock On the 6th of November, Javier Evans sold around 10k shares on-market at roughly US$57.41 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$7.2m more than they bought in the last 12 months. Declared Dividend • Oct 25
Third quarter dividend of US$0.40 announced Dividend of US$0.40 is the same as last year. Ex-date: 1st November 2024 Payment date: 12th November 2024 Dividend yield will be 3.1%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by earnings (36% payout ratio) and is expected to be well covered in 3 years' time (26% forecast payout ratio). The dividend has increased by an average of 10% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 38% over the next 2 years, which should provide support to the dividend and adequate earnings cover. 공시 • Oct 25
Webster Financial Corporation Declares Quarterly Cash Dividend, Payable on November 12, 2024 Webster Financial Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.40 per share on its common stock. The dividend on common shares will be payable November 12, 2024, to shareholders of record as of November 1, 2024. Price Target Changed • Oct 23
Price target increased by 7.0% to US$60.00 Up from US$56.07, the current price target is an average from 13 analysts. New target price is 17% above last closing price of US$51.47. Stock is up 39% over the past year. The company is forecast to post earnings per share of US$4.81 for next year compared to US$4.91 last year. Reported Earnings • Oct 17
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: US$1.10 (down from US$1.29 in 3Q 2023). Revenue: US$593.6m (down 7.4% from 3Q 2023). Net income: US$188.8m (down 14% from 3Q 2023). Profit margin: 32% (down from 34% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. 공시 • Oct 09
Webster Financial Corporation to Report Q3, 2024 Results on Oct 17, 2024 Webster Financial Corporation announced that they will report Q3, 2024 results at 7:30 AM, US Eastern Standard Time on Oct 17, 2024 New Risk • Jul 30
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$777k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 24
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: US$1.05 (down from US$1.32 in 2Q 2023). Revenue: US$555.6m (down 13% from 2Q 2023). Net income: US$177.5m (down 22% from 2Q 2023). Profit margin: 32% (down from 36% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 9.0%. Earnings per share (EPS) also missed analyst estimates by 23%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. 공시 • Jul 23
Webster Financial Corporation Announces Unaudited Net Charge-Offs for the Second Quarter Ended June 30, 2024 Webster Financial Corporation announced unaudited net charge-offs for the second quarter ended June 30, 2024. For the quarter, the company reported Total net charge-offs of $33,128,000 compared to $20,252,000 a year ago. Declared Dividend • Jul 21
First quarter dividend of US$0.40 announced Dividend of US$0.40 is the same as last year. Ex-date: 29th July 2024 Payment date: 8th August 2024 Dividend yield will be 3.3%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by earnings (33% payout ratio) and is expected to be well covered in 3 years' time (26% forecast payout ratio). The dividend has increased by an average of 10% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 공시 • Jul 18
Webster Financial Corporation Declares Common Dividend, Payable on August 8, 2024 Webster Financial Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.40 per share on its common stock. The dividend on common shares will be payable August 8, 2024, to shareholders of record as of July 29, 2024. Recent Insider Transactions Derivative • Jul 17
Chairman & CEO notifies of intention to sell stock John Ciulla intends to sell 16k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of July. If the sale is conducted around the recent share price of US$47.98, it would amount to US$768k. For the year to December 2017, John's total compensation was 14% salary and 86% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2023, John's direct individual holding has increased from 254.27k shares to 260.53k. Company insiders have collectively sold US$4.3m more than they bought, via options and on-market transactions in the last 12 months. 공시 • Jul 10
Webster Financial Corporation to Report Q2, 2024 Results on Jul 23, 2024 Webster Financial Corporation announced that they will report Q2, 2024 results at 7:30 AM, US Eastern Standard Time on Jul 23, 2024 Declared Dividend • Apr 28
First quarter dividend of US$0.40 announced Dividend of US$0.40 is the same as last year. Ex-date: 3rd May 2024 Payment date: 16th May 2024 Dividend yield will be 3.6%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (33% payout ratio) and is expected to be well covered in 3 years' time (26% forecast payout ratio). The dividend has increased by an average of 10% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 43% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 공시 • Apr 25
Webster Financial Corporation Declares Quarterly Cash Dividend on Common Stock, Payable on May 16, 2024 Webster Financial Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.40 per share on its common stock. The dividend on common shares will be payable on May 16, 2024, to shareholders of record as of May 6, 2024. Reported Earnings • Apr 23
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: US$1.23 (down from US$1.24 in 1Q 2023). Revenue: US$621.6m (flat on 1Q 2023). Net income: US$212.2m (down 1.3% from 1Q 2023). Profit margin: 34% (in line with 1Q 2023). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. 공시 • Apr 23
Webster Financial Corporation Announces Net Charge Offs for the Quarter Ended March 31, 2024 Webster Financial Corporation announced net charge offs for the quarter ended March 31, 2024. For the quarter, the company reported Total net charge-offs of $37,489,000 against $24,521,000 a year ago. 공시 • Apr 06
Webster Financial Corporation to Report Q1, 2024 Results on Apr 23, 2024 Webster Financial Corporation announced that they will report Q1, 2024 results at 7:30 AM, Eastern Standard Time on Apr 23, 2024 공시 • Mar 16
Webster Financial Corporation, Annual General Meeting, Apr 24, 2024 Webster Financial Corporation, Annual General Meeting, Apr 24, 2024, at 15:00 US Eastern Standard Time. Agenda: To consider Election of Directors - To elect eleven directors to serve for one-year terms; to approve, on a non-binding, advisory basis, the compensation of the named executive officers (“ NEOs”) of Webster; to consider Auditor Ratification - To vote, on a non-binding basis, to ratify the appointment of KPMG LLP as the independent registered public accounting firm of Webster for the year ending December 31, 2024; to transact any other business that properly comes before the Annual Meeting, or any adjournments thereof. Recent Insider Transactions • Mar 14
Insider recently sold US$680k worth of stock On the 11th of March, Christopher Motl sold around 14k shares on-market at roughly US$49.00 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$697k. Insiders have been net sellers, collectively disposing of US$4.6m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Mar 13
Insider notifies of intention to sell stock Christopher Motl intends to sell 14k shares in the next 90 days after lodging an Intent To Sell Form on the 11th of March. If the sale is conducted around the recent share price of US$49.00, it would amount to US$680k. Since June 2023, Christopher's direct individual holding has decreased from 81.76k shares to 81.51k. Company insiders have collectively sold US$3.8m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Feb 29
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: US$4.91 (up from US$3.72 in FY 2022). Revenue: US$2.50b (up 14% from FY 2022). Net income: US$843.3m (up 35% from FY 2022). Profit margin: 34% (up from 28% in FY 2022). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.52% (up from 3.49% in FY 2022). Cost-to-income ratio: 42.2% (down from 43.4% in FY 2022). Non-performing loans: 0.41% (no change from 0.41% in FY 2022). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 5.5%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Feb 01
COO & Senior Executive VP recently sold US$697k worth of stock On the 30th of January, Luis Massiani sold around 14k shares on-market at roughly US$51.63 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$1.3m. Luis has been a net seller over the last 12 months, reducing personal holdings by US$1.3m. 공시 • Jan 31
Webster Financial Corporation Announces Executive Changes, Effective as of February 1, 2024 On January 24, 2024, Webster Financial Corporation appointed Luis Massiani, currently President and Chief Operating Officer of Webster Bank, N.A., as the Company’s President and Chief Operating Officer, effective as of February 1, 2024, to serve in such capacity until his successor is duly appointed, or his earlier termination, resignation, death or removal from office. Mr. Massiani will continue to serve as Chief Operating Officer and Senior Executive Vice President of the Bank. Also effective February 1, 2024, John Ciulla, currently President and Chief Executive Officer of the Company and Chief Executive Officer of the Bank, will assume the role of President of the Bank. Mr. Cuilla will continue to serve as Chief Executive Officer of both the Company and the Bank. As previously disclosed, in connection with Webster’s merger with Sterling Bancorp, on January 31, 2022, Jack L. Kopnisky was appointed Executive Chairman of the Company’s and the Bank’s Boards of Directors (together, the “Boards ”) and was a named executive officer in the Proxy Statement. Pursuant to the Company’s Bylaws, as amended, effective as of January 31, 2024 (the 24-month anniversary of the effective time of Merger), Mr. Kopnisky will cease to serve as a member of both Boards and will instead serve as a strategic consultant to the Company and the Bank. Following Mr. Kopnisky’s departure, Mr. Ciulla will succeed Mr. Kopnisky as Chairman of both Boards and the size of the Company’s Board of Directors will be decreased by one member to 14 directors. Declared Dividend • Jan 28
Fourth quarter dividend of US$0.40 announced Dividend of US$0.40 is the same as last year. Ex-date: 2nd February 2024 Payment date: 16th February 2024 Dividend yield will be 3.1%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by earnings (33% payout ratio) and is expected to be well covered in 3 years' time (23% forecast payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 39% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 공시 • Jan 25
Webster Financial Corporation Declares Quarterly Cash Dividend, Payable on February 16, 2024 Webster Financial Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.40 per share on its common stock. The dividend on common shares will be payable February 16, 2024, to shareholders of record as of February 5, 2024. Reported Earnings • Jan 24
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: US$4.91 (up from US$3.72 in FY 2022). Revenue: US$2.50b (up 14% from FY 2022). Net income: US$851.2m (up 37% from FY 2022). Profit margin: 34% (up from 28% in FY 2022). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.52% (up from 3.49% in FY 2022). Non-performing loans: 0.41% (no change from 0.41% in FY 2022). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 5.5%. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. 공시 • Jan 23
Webster Financial Corporation Reports Net Charge Offs for the Quarter Ended December 31, 2023 Webster Financial Corporation reported net charge offs for the quarter ended December 31, 2023. For the quarter, the company reported net charge-offs were $34.0 million, compared to $29.3 million in the prior quarter, and $20.2 million a year ago. The ratio of net charge-offs to average loans and leases was 0.27%, compared to 0.23% in the prior quarter, and 0.17% a year ago. 공시 • Jan 12
Webster Financial Corporation to Report Q4, 2023 Results on Jan 23, 2024 Webster Financial Corporation announced that they will report Q4, 2023 results at 7:30 AM, US Eastern Standard Time on Jan 23, 2024 Price Target Changed • Jan 11
Price target increased by 7.8% to US$57.13 Up from US$53.00, the current price target is an average from 15 analysts. New target price is 14% above last closing price of US$50.22. Stock is up 3.5% over the past year. The company is forecast to post earnings per share of US$5.20 for next year compared to US$3.72 last year. 
