Webster Financial Stock Price, News & Analysis

Webster Financial Corporation (NYSE: WBS), based in Stamford, CT, announced an increase in its prime lending rate from 3.25% to 3.50%, effective March 17, 2022. This adjustment reflects the bank's response to economic conditions and the need to align its lending practices accordingly. Webster Bank, a prominent commercial bank in the Northeast with $65 billion in assets, operates across various financial sectors, including Commercial, Consumer Banking, and HSA Bank services.

Webster Financial Corporation (NYSE: WBS) has announced its 2022 annual meeting of shareholders, set for April 28, 2022, at 4:00 p.m. EDT, to be conducted virtually. Shareholders must be registered by March 3, 2022 to participate. The proxy statement will provide further details on accessing the meeting. Webster, headquartered in Stamford, CT, operates across three business lines: Commercial Banking, Consumer Banking, and HSA Bank, with total assets exceeding $65 billion. The meeting underscores the company's commitment to shareholder engagement and transparency.

Webster Financial Corporation (NYSE: WBS) has entered into a definitive agreement to acquire Bend Financial, a leader in cloud-based health savings account (HSA) solutions. This acquisition aims to enhance HSA Bank's capabilities by leveraging Bend's innovative technology to improve the digital experience for clients. As of December 31, 2021, HSA Bank reported $11.1 billion in total footings. The acquisition supports HSA Bank's mission to simplify healthcare savings for its three million members nationwide, reinforcing its position in the competitive healthcare finance market.

Webster Financial Corporation (NYSE: WBS) announced the acquisition of Bend Financial, Inc., a cloud-based HSA platform provider, aiming to enhance HSA Bank's client experience with advanced technology. Bend will continue its operations while integrating its user-centric offerings to benefit HSA Bank consumers. This move is expected to accelerate Webster's goal of simplifying healthcare savings for consumers. The transaction's terms were undisclosed, with completion anticipated in Q1 2022.

Webster Financial Corporation (NYSE: WBS) and Sterling Bancorp have completed their merger, establishing one of the largest commercial banks in the Northeast with approximately $65 billion in assets and $53 billion in deposits. The merger enhances Webster's funding base, including its HSA Bank division, and expands its geographic footprint. Shareholders of Sterling received 0.4630 shares of Webster common stock for each share held. The new headquarters is in Stamford, CT, with a commitment to community engagement and improved client experiences.

Webster Financial Corporation (NYSE: WBS) reported earnings of $108.4 million ($1.20 per diluted share) for Q4 2021, a significant increase from $57.7 million ($0.64 per share) in Q4 2020. Full-year earnings reached $398.7 million ($4.42 per share), reflecting strong loan growth of 4.1% and a 7.9% rise in revenue totaling $316.9 million. The company anticipates closing its merger with Sterling soon, aiming to enhance its market position. 2021's net interest margin stood at 2.73%, despite a 0.6% drop in deposits.

Webster Financial Corporation (NYSE:WBS) declared a quarterly cash dividend of $0.40 per share on its common stock, payable on February 11, 2022, to shareholders on record as of January 28, 2022. The company also announced a quarterly cash dividend of $328.125 per share on its Series F Preferred Stock, payable on March 15, 2022, to shareholders on record by March 1, 2022. With total assets of $35.4 billion, Webster Bank offers various banking services through 130 centers and 254 ATMs.

Webster Financial Corporation (NYSE: WBS) has announced its fourth quarter 2021 earnings release and conference call scheduled for January 20, 2022. The earnings release will be available at approximately 7:30 a.m. Eastern, followed by a conference call at 9:00 a.m. Eastern. Participants can dial in using 877-407-8289 or access the call via webcast on Webster's Investor Relations website. A replay of the call will be available shortly after completion.