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 (NYSE: WBS) announced an increase in its prime lending rate, rising from 7.50% to 7.75%, effective February 2, 2023. This decision reflects the company's ongoing efforts to adapt to changing economic conditions and could impact borrowing costs for consumers and businesses. With over $71 billion in assets, Webster is a leading commercial bank in the Northeast, providing diverse financial solutions through its various divisions, including the significant HSA Bank.
For more information on Webster's operations and financial performance, visit their website.
Webster Financial Corporation (NYSE: WBS) reported strong financial results for Q4 2022, posting net income of $240.6 million, or $1.38 per diluted share, up from $109.1 million, or $1.20 per diluted share, in Q4 2021. Excluding merger-related charges, adjusted earnings per share rose to $1.60. For the full year, net income was $628.4 million, marking a significant increase from previous year figures. Key highlights included a revenue of $704.6 million, a loan and lease balance of $49.8 billion, and a return on average assets of 1.40%. Despite challenges, the company maintained a solid capital position with a common equity tier 1 ratio of 10.71%.
Webster Financial Corporation (NYSE: WBS) announced a quarterly cash dividend of $0.40 per share on common stock, payable on February 17, 2023, to shareholders of record by February 6, 2023.
Additionally, dividends for preferred stock include $328.125 per share on Series F, payable on March 15, 2023, and $16.25 per share on Series G, payable on April 15, 2023. These distributions highlight Webster's ongoing commitment to returning value to its shareholders.
Webster Bank has launched the first-ever Webster/YPIE Finance Lab in partnership with Yonkers Partners in Education (YPIE). This initiative aims to enhance financial literacy among students in Yonkers schools, supported by a $100,000 investment from Webster. The lab will provide students access to technology, financial experts, and hands-on learning opportunities, including internships and mentorships. With the introduction of the YPIE Finance Major, an intensive after-school program, 32 students will gain foundational financial skills. This effort underscores Webster's commitment to supporting community development and workforce readiness.
Webster Financial Corporation (NYSE: WBS) will host an Investor Day on March 2, 2023, from 8:30 a.m. to 12:30 p.m. ET in New York City.
CEO John Ciulla and the executive team will discuss Webster's strategy and initiatives. A live webcast and presentation slides will be available on Webster's investor relations site, with a replay after the event.
Webster Financial, headquartered in Stamford, CT, manages over $65 billion in assets, providing solutions in Commercial Banking, Consumer Banking, and employee benefits through HSA Bank.
Payoneer Global Inc. (NASDAQ: PAYO) announces the appointment of Bea Ordonez as Deputy Chief Financial Officer, effective January 16, 2023. Michael Levine, the current CFO, will step down in March 2023. Ordonez brings over 20 years of experience in financial technology and has previously served in CFO roles at Sterling National Bank (NYSE: STL) and Webster Bank (NYSE: WBS). Payoneer expects to exceed its full-year 2022 guidance and reaffirms its commitment to increase adjusted EBITDA for 2023. The full year 2022 earnings will be released on February 28, 2023.
Webster Bank has initiated a three-year Community Investment Strategy with a commitment of $6.5 billion. This strategy focuses on enhancing community support through philanthropy, community development lending, and small business lending, with an emphasis on minority and women-owned businesses. Additionally, the bank's investments will also include Finance Labs aimed at promoting affordable housing investments. This initiative demonstrates Webster Bank's commitment to positively impacting the communities where it operates.
StoneCastle Partners has sold its subsidiary, interLINK, to Webster Bank, a subsidiary of Webster Financial Corporation (NYSE: WBS). interLINK is a technology-enabled platform focused on cash administration solutions for broker-dealers. This acquisition aligns with Webster's strategy to enhance deposit funding channels, potentially increasing profitability. George Shilowitz, co-CEO of StoneCastle Partners, highlighted the scalability and low acquisition costs of interLINK as key benefits. The sale was advised by Keefe, Bruyette & Woods and BofA Securities.
Webster Financial Corporation (NYSE: WBS) has successfully completed the acquisition of StoneCastle Insured Sweep, LLC, operating as interLINK. This technology-enabled deposit management platform manages over $9 billion in FDIC-insured deposits. The acquisition enhances Webster's deposit gathering capabilities, integrating interLINK's operations fully in Q1 2023. The interLINK brand will continue its service for broker/dealer clients, providing scalable technology and liquidity at low operating costs. Webster, with over $65 billion in assets, aims to leverage this acquisition for future growth.
Webster Financial Corporation (NYSE: WBS) will release its fourth quarter 2022 earnings on January 26, 2023, at 7:30 a.m. Eastern. A conference call will follow the release at 9:00 a.m. on the same day. Investors can join the call via toll-free number 888-330-2446 or internationally at 240-789-2732, using passcode 8607257. A webcast will be available through Webster's Investor Relations website, with a replay accessible shortly after the call. The company, headquartered in Stamford, CT, has over $65 billion in assets and operates across the Northeast U.S.
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