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 reports news as the holding company for Webster Bank, N.A., a commercial bank serving businesses, individuals, and families through Commercial Banking, Healthcare Financial Services, and Consumer Banking. Recurring updates cover operating results, expense and tax items, balance sheet activity, and segment-level banking trends across its Northeast core footprint and selected extended geographies.
Company announcements also include common-stock dividends and preferred-stock depositary share dividends for Webster's Series F and Series G preferred stock. Other recurring news categories include governance matters, capital-structure disclosures, material agreements, and shareholder voting matters tied to the bank holding company's public securities.
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.
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.
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.