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Webster Financial (WBS)

Webster Financial Corporation is the holding company for Webster Bank, National Association and its HSA Bank division. With $32.6 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust, and investment services through 155 banking centers and 297 ATMs. Webster also provides mobile and online banking. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and HSA Bank, a division of Webster Bank, which provides health savings account trustee and administrative services. Webster Bank is a member of the FDIC and an equal housing lender.

Company profile

Ticker
WBS, WBS-PF, WBS-PG
Exchange
CEO
John Ciulla
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Subsidiaries
Webster Wealth Advisors, Inc. • Webster Licensing, LLC ...
IRS number
61187536

WBS stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$54.00
Low target
$51.00
High target
$57.00
Raymond James
Maintains
Strong Buy
$57.00
7 Jul 22
JP Morgan
Maintains
Neutral
$51.00
1 Jul 22

Calendar

5 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 901.81M 901.81M 901.81M 901.81M 901.81M 901.81M
Cash burn (monthly) (no burn) 56.51M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) n/a 80.92M n/a n/a n/a n/a
Cash remaining n/a 820.89M n/a n/a n/a n/a
Runway (months of cash) n/a 14.5 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
5 Aug 22 Luis Massiani Common Stock Sell Dispose S No No 46.43 8,000.15 371.45K 152,910.35
18 May 22 Javier L Evan Common Stock Sell Dispose S No No 47.021 1,975 92.87K 34,929.112
17 May 22 Javier L Evan Common Stock Sell Dispose S No No 47.905 1,004.888 48.14K 36,904.112
6 May 22 Mitchell Maureen Common Stock Buy Acquire P No No 48.508 520 25.22K 7,872
4 May 22 Christopher J Motl Common Stock Payment of exercise Dispose F No No 50.58 469 23.72K 73,171.5
4 May 22 Albert Jen-Wen Wang Common Stock Payment of exercise Dispose F No No 50.58 101 5.11K 9,454
86.1% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 441 310 +42.3%
Opened positions 163 49 +232.7%
Closed positions 32 28 +14.3%
Increased positions 199 97 +105.2%
Reduced positions 46 106 -56.6%
13F shares Current Prev Q Change
Total value 10.07B 4.88B +106.2%
Total shares 151.47M 87.45M +73.2%
Total puts 46.2K 10.9K +323.9%
Total calls 97.05K 36.6K +165.2%
Total put/call ratio 0.5 0.3 +59.9%
Largest owners Shares Value Change
Vanguard 17.4M $976.59M +88.3%
BLK Blackrock 17.39M $975.79M +114.0%
Capital International Investors 9.3M $521.89M +18.2%
STT State Street 7.51M $421.53M +68.8%
TROW T. Rowe Price 6.36M $356.9M -32.6%
Dimensional Fund Advisors 6.15M $345.18M +325.0%
MCQEF Macquarie 4.96M $278.45M +40.9%
IVZ Invesco 4.78M $268.38M +219.4%
Wasatch Advisors 3.82M $214.4M -9.8%
Diamond Hill Capital Management 3.3M $185.17M NEW
Largest transactions Shares Bought/sold Change
BLK Blackrock 17.39M +9.26M +114.0%
Vanguard 17.4M +8.16M +88.3%
Dimensional Fund Advisors 6.15M +4.7M +325.0%
Diamond Hill Capital Management 3.3M +3.3M NEW
FMR 3.29M +3.29M +909927.6%
IVZ Invesco 4.78M +3.29M +219.4%
TROW T. Rowe Price 6.36M -3.08M -32.6%
STT State Street 7.51M +3.06M +68.8%
PFG Principal Financial Group Inc - Registered Shares 2.03M +1.73M +561.0%
Charles Schwab Investment Management 3.26M +1.69M +107.7%

Financial report summary

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Risks
  • We may encounter significant difficulties in integrating with Sterling and may fail to realize the anticipated benefits of the merger, or those benefits may take longer to realize than expected.
  • We will continue to incur substantial expenses related to the merger and integration with Sterling.
  • New lines of business or new products and services may subject us to additional risk.
  • We may not be able to attract and retain skilled people and loss of key employees may disrupt relationships with customers.
  • We operate in a highly competitive industry and market area.
  • Failure to keep pace with and adapt to technological change could adversely impact our business.
  • The loss of key partnerships could adversely affect our HSA Bank division.
  • Difficult conditions in the U.S economy and financial markets may have a materially adverse effect on our business, financial condition, and results of operations.
  • Our profitability depends significantly on local economic conditions in the states in which we conduct business.
  • Changes in interest rates and spreads may have a materially adverse effect on our business, financial condition, and results of operations.
  • We may be subject to more stringent capital and liquidity requirements, which could limit our business activities.
  • The Holding Company may not pay dividends to shareholders if it is not able to receive dividends from its subsidiary, Webster Bank.
  • Changes in our accounting policies or in accounting standards could materially impact how we report our financial results.
  • The preparation of our consolidated financial statements requires the use of estimates that may vary from actual results.
  • A significant merger or acquisition requires us to make estimates, including the fair values of acquired assets and liabilities.
  • If our goodwill were determined to be impaired, it could have a negative impact on our profitability.
  • Our investments in certain tax-advantaged projects may not generate returns as anticipated or at all, and may have an adverse impact on our results of operations.
  • A failure or breach of our information systems, or those of our third-party vendors and service providers, including as a result of cyber-attacks, could disrupt our businesses, result in the misuse of confidential or proprietary information, damage our reputation, and cause losses.
  • Our allowance for credit losses on loans and leases may be insufficient.
  • The soundness of other financial institutions could adversely affect our business.
  • We are subject to the risk of default by our counterparties and clients, particularly with respect to certain types of loans.
  • We are subject to extensive government regulation and supervision, which may interfere with our ability to conduct our business operations.
  • We face risks related to the adoption of future legislation and potential changes in federal regulatory agency leadership, policies, and priorities.
  • Climate change manifesting as physical or transition risks could adversely affect our operations, businesses, and customers.
  • Changes in federal, state, or local tax laws may negatively impact our financial performance.
  • We are subject to examinations and challenges by taxing authorities.
  • Our internal controls may be ineffective, circumvented, or fail.
  • Our business may be adversely affected by fraud.
  • Health care reform could adversely affect our HSA Bank division.
  • We rely on third parties to perform significant operational services for us.
  • The replacement of LIBOR could adversely affect our business and financial condition.
  • We are subject to financial and reputational risks from potential liability arising from lawsuits.
  • We are exposed to environmental liability risk with respect to properties to which we obtain title.
  • Our stock price can be volatile.
Management Discussion
  • (1)Non-performing asset balances and related asset quality ratios exclude the impact of net unamortized (discounts)/premiums and net unamortized deferred (costs)/fees on loans and leases.
  • The non-GAAP financial measures identified in the preceding table provide both management and investors with information useful in understanding Webster's financial position, results of operations, the strength of its capital position, and overall business performance. These measures are used by management for internal planning and forecasting purposes, as well as by securities analysts, investors, and other interested parties to assess peer company operating performance. Management believes that this presentation, together with the accompanying reconciliations, provides a complete understanding of the factors and trends affecting Webster's business and allows investors to view its performance in a similar manner.
  • Tangible book value per common share represents shareholders’ equity less preferred stock and goodwill and other intangible assets (tangible common equity) divided by common shares outstanding at the end of the reporting period. The tangible common equity ratio represents tangible common equity divided by total assets less goodwill and other intangible assets (tangible assets). Both of these measures are used by management to evaluate Webster's capital position. The annualized return

Content analysis

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New words: arranged, begun, cessation, clarify, conflict, deployment, finalization, geopolitical, half, lapse, oversee, philanthropy, receded, reinvestment, synergy, upward, war
Removed: ancillary, automation, capitalized, depend, fourth, implementation, migration, organizational, rapidly, response, run, spend