Welcome to our dedicated page for Webster Financial news (Ticker: WBS), a resource for investors and traders seeking the latest updates and insights on Webster Financial stock.
Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A., regularly issues news and updates that reflect its activities as a commercial bank and financial holding company. Founded in 1935 and headquartered in Stamford, Connecticut, Webster reports on developments across its three differentiated lines of business: Commercial Banking, Healthcare Financial Services, and Consumer Banking.
This news page highlights company announcements such as quarterly earnings releases, details on earnings conference calls, and commentary from senior leadership on financial performance. Investors can review press releases reporting net income, revenue, segment results, and other financial metrics, as well as information about dividends declared on common and preferred stock.
Webster also publishes news on changes to its prime lending rate, reflecting adjustments in its lending reference rate over time. In addition, the company reports on corporate actions and strategic steps, including capital markets transactions such as the issuance of subordinated notes, and acquisitions within its Healthcare Financial Services segment, such as HSA Bank’s acquisition of SecureSave.
Updates from divisions like HSA Bank and Ametros appear in the news flow, including reports on member impact, account growth, and enhancements to healthcare-related financial and administrative services. Governance and leadership items, such as board appointments and executive role changes, are also disclosed through press releases and related filings.
By reviewing this page, readers can follow Webster’s periodic financial reporting, capital and funding activities, healthcare-related initiatives, and other material corporate developments associated with the WBS stock.
Webster Financial Corporation (WBS) reported a significant earnings growth for Q1 2021, with a net income of $105.5 million ($1.17 per diluted share), up from $36.0 million ($0.39) a year ago. Revenue reached $300.5 million, driven by a 2.0% increase in loans and a 16.2% rise in deposits. The bank originated $533.0 million in PPP loans. However, it incurred $9.4 million in charges for strategic optimization. The net interest margin was 2.92%, showing compression due to liquidity, while credit quality improved, allowing for a $25.8 million benefit in provisions for credit losses.
Webster Financial Corporation (NYSE: WBS) and Sterling Bancorp (NYSE: STL) announced a definitive agreement for an all-stock merger of equals, valued at approximately $10.3 billion. Under the agreement, Sterling shareholders will receive an exchange ratio of 0.463 Webster shares for each Sterling share. Upon completion, Webster shareholders will hold 50.4% and Sterling shareholders 49.6% of the combined entity. The merger aims to create a $63 billion bank with strong revenue growth potential, enhanced profitability, and a robust deposit franchise, with a focus on commercial and consumer banking.
Webster Financial Corporation (NYSE: WBS) announced its earnings release and conference call details for Q1 2021. The earnings release is scheduled for April 20, 2021 at approximately 7:30 a.m. (Eastern), followed by a conference call at 9:00 a.m. (Eastern). Investors can join via phone or through a webcast available on Webster’s Investor Relations website. The replay will be accessible post-call and for one week after the call. With $32.6 billion in assets, Webster Bank provides various financial services, including banking, mortgages, asset-based lending, and health savings accounts.
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.
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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.
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