Webster Financial Stock Price, News & Analysis

Webster Bank announced that Chris Perry, Senior VP and Managing Director for Webster Wealth Advisors, has been recognized as a Five Star Wealth Manager in Connecticut for the eighth consecutive year. This accolade highlights his commitment to client service and enhances Webster's reputation. The Five Star Program, a prestigious financial services award in North America, evaluates wealth managers on various criteria, including experience and assets under management. Webster Bank holds $32.6 billion in assets, providing a range of banking services through 155 centers.

Webster Financial Corporation (NYSE: WBS) has announced its 2021 annual meeting of shareholders, scheduled for April 22, 2021, at 4:00 p.m. EDT. The meeting will be held in a virtual-only format, with the record date for shareholders eligible to vote set for February 25, 2021. Additional details on accessing the meeting will be included in the company's proxy statement. With assets totaling $32.6 billion, Webster offers a range of banking services, including business and consumer banking, mortgages, and investment services.

Webster Bank has achieved an "Outstanding" rating from the Office of the Comptroller of the Currency (OCC) in its Community Reinvestment Act (CRA) Performance Evaluation, marking the second consecutive time receiving this top rating. The evaluation, covering transactions from 2017 to 2019, highlighted excellent lending, impactful community development investments, and outreach to low- and moderate-income communities in Connecticut, Massachusetts, Rhode Island, and New York. Webster aims to promote responsible banking and enhance community reinvestment.

Webster Financial Corporation (NYSE: WBS) declared a quarterly cash dividend of $0.40 per share on common stock, payable on February 23, 2021, to shareholders of record by February 9, 2021. Additionally, a quarterly cash dividend of $328.125 per share on Series F Preferred Stock will be paid on March 15, 2021, to shareholders of record by March 1, 2021. With $32.6 billion in assets, Webster continues to provide a range of banking services through its divisions, including consumer and commercial banking.

Webster Financial Corporation (WBS) reported earnings of $57.7 million ($0.64 per diluted share) for Q4 2020, down from $88.1 million ($0.96) in Q4 2019. Adjusted EPS would have been $0.99 after strategic charges of $42.0 million. Total revenue reached $293.7 million, with loan growth of $1.6 billion (8.0% YoY). Deposit growth was $4.0 billion (17.2%). The company’s net interest margin was 2.83%, with a provision for credit losses at $(1.0) million. CEO John Ciulla emphasized ongoing support for customers and strategic priorities for growth in 2021.

Webster Financial Corporation (WBS) has announced the schedule for its fourth quarter 2020 earnings release and conference call. The earnings will be released on January 21, 2021, at approximately 7:30 a.m. Eastern, followed by a conference call at 9:00 a.m. Eastern. Investors can join the call by dialing 877-407-8289 for domestic calls and 201-689-8341 for international calls. Additionally, the call will be available via webcast on Webster's Investor Relations website. A replay will be available shortly after the call's completion.

HSA Bank, a division of Webster Bank, has partnered with MedPut to enhance employee healthcare benefits. This innovative solution allows employees to pay healthcare expenses upfront, which can later be reimbursed through payroll deductions. MedPut aims to lower healthcare costs by negotiating payments on behalf of employees, helping them use their Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), or Health Reimbursement Arrangements (HRAs) efficiently. This partnership is designed to alleviate financial stress and promote better healthcare access for users.

Webster Financial Corporation (NYSE: WBS) has promoted Jonathan W. Roberts to Head of Retail Banking and Consumer Lending, a role in which he will manage retail operations and lead consumer products. Since joining in 2017, Roberts has driven the growth of consumer deposits while modernizing the bank's technology and services. His new appointment is expected to enhance responsiveness to customer needs and expand the bank's commercial activities. The company, with $33.0 billion in assets, operates 156 banking centers and provides a range of financial services.