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, headquartered in Waterbury, Connecticut and traded under the symbol WBS, is a comprehensive financial services provider. Established in 1935, Webster Bank, N.A., a principal subsidiary, offers a wide range of banking solutions, including commercial and consumer banking, mortgages, investment advisory, trust, and wealth management services. This institution caters to individuals, families, and businesses across Connecticut, New York, Rhode Island, Massachusetts, and Pennsylvania.
Webster operates through three key segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment is the largest revenue generator, offering tailored financial solutions to businesses of all sizes. The HSA Bank segment offers health savings accounts to individuals and businesses, while the Consumer Banking segment provides a broad spectrum of financial products to everyday consumers, including personal loans, credit cards, and deposit products.
The company prides itself on living up to its promise of understanding and addressing what matters most to its customers and communities. Webster Financial Corporation emphasizes values such as responsibility, respect, ethical behavior, citizenship, and teamwork, collectively known as the Webster Way. These guiding principles ensure that the company consistently puts people first, helping them achieve their financial goals and build fulfilling lives.
In recent years, Webster has achieved notable milestones, including strategic partnerships and technological advancements that enhance customer experience. The company's robust financial condition is reflected in its continual growth and the trust it has built within the community.
For the latest updates and relevant information about Webster Financial Corporation's performance and developments, visit our news section regularly.
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.
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.
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