- Total average deposits at Webster Financial were $62.58 billion, slightly below the estimate of $62.68 billion.
- Total average loans amounted to $51.75 billion, missing the projected value of $52.05 billion.
- Net interest income surpassed expectations, recording $589.9 million compared to the estimate of $581.3 million.
- Net interest margin was higher than anticipated at 3.36%, against the forecasted 3.33%.
- Provision for credit losses was $54.0 million, marginally above the estimated $53.4 million.
- Adjusted earnings per share (EPS) met expectations at $1.34.
- EPS fell short of estimates, coming in at $1.10 compared to the expected $1.34.
- Tangible book value per share was reported at $33.26.
- Net charge-offs were lower than expected, totaling $35.4 million compared to the estimate of $37.3 million.
- The adjusted efficiency ratio was recorded at 45.5%.
- Analyst recommendations included 12 buy ratings, 3 holds, and no sell ratings.
A look at Webster Financial Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Webster Financial Corporation, a bank holding company focusing on southern New England and eastern New York State, holds a positive long-term outlook based on its Smartkarma Smart Scores. With solid scores in Value, Dividend, Growth, and Momentum at 4 each, the company is well-positioned for future success. These scores suggest that Webster Financial is perceived favorably in terms of its valuation, dividend yield, growth potential, and market momentum.
While the Resilience score slightly lags behind at 3, indicating room for improvement in this area, Webster Financial‘s overall outlook remains optimistic. The company continues to offer a broad range of financial services, including banking, lending, and investment options, catering to individuals, families, and businesses. With a strong foundation in place, Webster Financial appears poised for continued growth and success in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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