Webster Financial Stock Price, News & Analysis

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.

Webster Financial Corporation (NYSE: WBS) has declared a quarterly cash dividend of $0.40 per share on its common stock, payable on November 24, 2020 to shareholders of record on November 10, 2020. Additionally, a cash dividend of $328.125 per share on its Series F Preferred Stock will be paid on December 15, 2020 to shareholders of record on December 1, 2020. This steady dividend payout reflects confidence in the company's financial health, which holds $33.0 billion in assets, providing diverse banking services through multiple channels.

Webster Investments has been recognized for the third consecutive year by the Financial Times in its annual FT 401 list of the nation's top retirement plan advisors. Senior Vice President Bert Entwistle earned this acknowledgment thanks to his extensive experience and dedication to improving retirement readiness for business employees. The FT 401 listing reflects the advisors' expertise across several criteria, including defined contribution plan assets and growth rates.

Webster Financial Corporation, with $28.9 billion in assets, operates multiple banking services.

Webster Financial Corporation (NYSE: WBS) reported Q3 2020 earnings of $66.9 million, or $0.75 per diluted share, down from $91.4 million, or $1.00 per diluted share in Q3 2019. Revenue stood at $294.3 million with a loan growth of 11.8%, driven primarily by commercial real estate. Total deposits grew 15.6% to $26.9 billion. The company reported a provision for credit losses of $22.8 million, with nonperforming loans at 0.74%. Despite a decline in net interest margin to 2.88%, efficiency ratio improved to 60.0%. Management highlighted the ongoing support for customers amid COVID-19 challenges.

HSA Bank, a division of Webster Bank, and MyHealthMath co-sponsor an upcoming webinar on utilizing Health Savings Accounts (HSAs) to promote health and wealth equity. Scheduled for October 20, 2020, at 1 p.m. CT, the event aims to educate employers on strategies to enhance HSA enrollment and provide equitable benefits. Key speakers include Dr. Elizabeth Coté and Kevin Robertson. HSA Bank, with $9.0 billion in total assets, has been a leader in consumer-directed healthcare for over two decades, serving 3 million members.

Webster Bank announces that Aimee Barricelli, Chief Information Security Officer, has been named 2020 Chief Information Security Officer of the Year by the American Cyber Awards. This recognition highlights her leadership in cyber security, achieving a compliant and secure environment while enhancing customer experience. Since joining Webster in 2018, Barricelli has led strategies that align security goals with business objectives. Her team previously earned a CSO50 Award for outstanding security initiatives.

Webster Financial Corporation (NYSE: WBS) announced its third-quarter 2020 earnings release and conference call details. The earnings report is scheduled for October 22, 2020, at approximately 7:30 a.m. Eastern Time, followed by a conference call at 9:00 a.m. Eastern Time. Investors can dial in at 877-407-8289 or access a webcast via Webster's Investor Relations website. A replay of the call will be available starting at 11:00 a.m. on the same day for one week. Webster Bank has assets totaling $32.7 billion.

HSA Bank, a division of Webster Bank, announced a $10,000 donation to support COVID-19 efforts at two Wisconsin hospitals: Ascension Columbia St. Mary's and HSHS St. Nicholas Hospital. Each hospital will receive $5,000 for personal protective equipment and essential supplies. This contribution is part of the Protect the Heroes initiative aimed at addressing healthcare shortages. Earlier this year, HSA Bank donated $35,000 to local nonprofits affected by the pandemic, demonstrating a commitment to community support during crisis periods.

Webster Bank has donated $5,000 to the East Coast Greenway Alliance for the second consecutive year, aimed at maintaining trails in Connecticut and Rhode Island. This investment supports trail maintenance and amenities, addressing increased traffic and cleanup costs due to Tropical Storm Isaias. The donation was part of Webster's partnership with the Hartford Marathon Foundation, where it pledged $10 for each participant in the HMF Evergreen Adventure.

In total, Webster has committed $143 million for renewable energy initiatives.