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Webster Financial (WBS) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2024, Webster Financial (WBS - Free Report) reported revenue of $667.09 million, up 0.2% over the same period last year. EPS came in at $1.35, compared to $1.49 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $672.03 million, representing a surprise of -0.73%. The company delivered an EPS surprise of -1.46%, with the consensus EPS estimate being $1.37.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Webster Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 45.3% versus 47.2% estimated by seven analysts on average.
Net Interest Margin: 3.4% versus 3.5% estimated by seven analysts on average.
Average balance - Total interest-earning assets: $68.11 billion compared to the $68.12 billion average estimate based on six analysts.
Net charge-offs/average loans and leases (annualized): 0.3% compared to the 0.3% average estimate based on five analysts.
Total nonperforming loans and leases: $283.61 million compared to the $222.51 million average estimate based on two analysts.
Total Non-Interest Income: $99.35 million versus $94.18 million estimated by seven analysts on average.
Deposit service fees: $42.59 million versus $42.08 million estimated by six analysts on average.
Wealth and investment services: $7.92 million compared to the $7.88 million average estimate based on six analysts.
Loan and lease related fees: $19.77 million compared to the $21.82 million average estimate based on six analysts.
Increase in cash surrender value of life insurance policies: $5.95 million versus $7.26 million estimated by five analysts on average.
Non-interest income- Other income: $32.95 million compared to the $14.67 million average estimate based on five analysts.
Tax-equivalent Net Interest Income: $583.62 million versus the five-analyst average estimate of $608.01 million.
Shares of Webster Financial have returned -5.7% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Webster Financial (WBS) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2024, Webster Financial (WBS - Free Report) reported revenue of $667.09 million, up 0.2% over the same period last year. EPS came in at $1.35, compared to $1.49 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $672.03 million, representing a surprise of -0.73%. The company delivered an EPS surprise of -1.46%, with the consensus EPS estimate being $1.37.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Webster Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 45.3% versus 47.2% estimated by seven analysts on average.
- Net Interest Margin: 3.4% versus 3.5% estimated by seven analysts on average.
- Average balance - Total interest-earning assets: $68.11 billion compared to the $68.12 billion average estimate based on six analysts.
- Net charge-offs/average loans and leases (annualized): 0.3% compared to the 0.3% average estimate based on five analysts.
- Total nonperforming loans and leases: $283.61 million compared to the $222.51 million average estimate based on two analysts.
- Total Non-Interest Income: $99.35 million versus $94.18 million estimated by seven analysts on average.
- Deposit service fees: $42.59 million versus $42.08 million estimated by six analysts on average.
- Wealth and investment services: $7.92 million compared to the $7.88 million average estimate based on six analysts.
- Loan and lease related fees: $19.77 million compared to the $21.82 million average estimate based on six analysts.
- Increase in cash surrender value of life insurance policies: $5.95 million versus $7.26 million estimated by five analysts on average.
- Non-interest income- Other income: $32.95 million compared to the $14.67 million average estimate based on five analysts.
- Tax-equivalent Net Interest Income: $583.62 million versus the five-analyst average estimate of $608.01 million.
View all Key Company Metrics for Webster Financial here>>>Shares of Webster Financial have returned -5.7% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.