Webster Financial Corp (WBS) released its first quarter results on Monday, April 19, 2021. The company reported net earnings of $1.17 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 196 percent compared to the same period a year ago.
Webster Financial Corporation was founded in 1935 and is headquartered in Waterbury, Connecticut. Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.
Webster Financial's revenue decreased 10 percent over the past trailing twelve-month period versus the previous twelve-month period. Operating margins increased to 44.28% over the same period. Net earnings for past trailing twelve months were $280.86 million, down 10% from the prior year.
Overall liquidity of the balance sheet, as measured by the current ratio, increased 1.73% this past year. The current ratio for Webster Financial now stands at 0.1. The company increased share outstanding by 0.26%.
Shares of WBS are currently trading around $54.11. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 17.32 and price to book ratio of 1.63.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Tuesday, April 20, 2021.