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WBS Webster Financial

Webster Financial Corp., is holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Community Banking. The Commercial Banking segment includes commercial banking and private banking. The HSA Bank segment offers comprehensive consumer directed healthcare solutions. The Community Banking segment comprises personal and business banking. The company was founded in 1986 and is headquartered in Waterbury, CT.

Company profile

Ticker
WBS, WBS-PF
Exchange
CEO
John Ciulla
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
61187536

WBS stock data

(
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Calendar

25 Feb 21
13 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
2 Mar 21 Harriet Munrett Wolfe Common Stock Payment of exercise Dispose F No No 57.43 957 54.96K 102,763
2 Mar 21 Glenn I MacInnes Common Stock Payment of exercise Dispose F No No 57.43 844 48.47K 127,959
2 Mar 21 Karen Higgins-Carter Common Stock Payment of exercise Dispose F No No 57.43 334 19.18K 4,192
2 Mar 21 John R Ciulla Common Stock Payment of exercise Dispose F No No 57.43 2,468 141.74K 105,342
2 Mar 21 Daniel Bley Common Stock Payment of exercise Dispose F No No 57.43 286 16.42K 19,380
1 Mar 21 Glenn I MacInnes Common Stock Payment of exercise Dispose F No No 55.31 358 19.8K 128,803
1 Mar 21 Karen Higgins-Carter Common Stock Payment of exercise Dispose F No No 55.31 149 8.24K 4,526
1 Mar 21 John R Ciulla Common Stock Payment of exercise Dispose F No No 55.31 650 35.95K 107,810
1 Mar 21 Daniel Bley Common Stock Payment of exercise Dispose F No No 55.31 136 7.52K 19,666

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

86.3% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 273 252 +8.3%
Opened positions 53 31 +71.0%
Closed positions 32 42 -23.8%
Increased positions 70 84 -16.7%
Reduced positions 105 93 +12.9%
13F shares
Current Prev Q Change
Total value 4.6B 13.23B -65.2%
Total shares 77.95M 77.03M +1.2%
Total puts 74.6K 79.7K -6.4%
Total calls 58.4K 96.6K -39.5%
Total put/call ratio 1.3 0.8 +54.8%
Largest owners
Shares Value Change
TROW T. Rowe Price 12.59M $530.83M -1.0%
Vanguard 8.4M $354.04M +1.1%
BLK Blackrock 7.7M $324.4M -0.8%
MCQEF Macquarie 3.61M $152.16M -0.9%
Alliancebernstein 3.3M $139.03M +3.9%
Wasatch Advisors 3.06M $128.77M +1.3%
STT State Street 2.89M $121.91M -0.4%
PZN Pzena Investment Management 2.68M $113M -2.8%
BK Bank Of New York Mellon 2.43M $102.28M +11.7%
Dimensional Fund Advisors 1.78M $75.23M -6.7%
Largest transactions
Shares Bought/sold Change
Norges Bank 1.21M +1.21M NEW
Russell Investments 470.72K -979.1K -67.5%
Raymond James & Associates 441.09K +415.77K +1642.5%
GW&K Investment Management 158 -398.64K -100.0%
Citadel Advisors 336.94K -378.84K -52.9%
Nitorum Capital 1.57M +316.36K +25.1%
Allianz Asset Management GmbH 307.11K +307.11K NEW
BK Bank Of New York Mellon 2.43M +253.56K +11.7%
Arrowstreet Capital, Limited Partnership 439.85K -221.81K -33.5%
Raymond James Financial Services Advisors 222.4K +204.48K +1140.7%

Financial report summary

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Risks
  • The COVID-19 pandemic and resulting adverse economic conditions have adversely impacted our business and results and could have a more material impact on our business, financial condition, and results of operations.
  • Difficult conditions in the economy and the financial markets may have a materially adverse effect on our business, financial condition, and results of operations.
  • Changes in local economic conditions could adversely affect our business.
  • The soundness of other financial institutions could adversely affect our business.
  • Changes in interest rates and spreads may have a materially adverse effect on our business, financial condition, and results of operations.
  • The uncertainty about the future of London Interbank Offered Rate (LIBOR) may adversely impact our business.
  • We are subject to extensive government regulation and supervision, which may interfere with our ability to conduct our business and may negatively impact our financial results.
  • Changes in accounting standards and policies could materially impact how we report our results of operations and financial condition.
  • Health care reforms could adversely affect our HSA Bank division, revenues, financial position, and results of operations.
  • The Holding Company may not pay dividends if we are not able to receive dividends from our subsidiary, Webster Bank.
  • We are exposed to risk of environmental liabilities with respect to properties to which we obtain title.
  • We operate in a highly competitive industry and market area. If we fail to compete effectively, our financial condition and results of operations may be materially adversely affected.
  • The loss of key partnerships could adversely affect our HSA Bank division.
  • We continually encounter technological change. The failure to adapt to these changes could negatively impact our business.
  • A failure or breach of our systems, or those of our third party vendors and other 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, increase our costs, and cause losses.
  • Disruptions in services provided by third-party vendors may result in a material adverse effect on our business.
  • We face risks in connection with completed or potential acquisitions.
  • Our business may be adversely affected by fraud.
  • Our allowance for credit losses may be insufficient.
  • We may not be able to fully realize the balance of our net DTA.
  • If our goodwill were determined to be impaired it could have a negative impact on our profitability.
  • Our controls and procedures may fail or be circumvented, which may result in a material adverse effect on our business.
  • Our stock price can be volatile.
  • Changes in the federal, state or local tax laws may negatively impact our financial performance.
  • We are subject to financial and reputational risks from potential liability arising from lawsuits.
  • We may not be able to attract and retain skilled people.
  • New lines of business or new products and services may subject us to additional risks. A failure to successfully manage these risks may have a material adverse effect on our business.
Management Discussion
  • The Company's financial position and results of operations as of and for the year ended December 31, 2020 have been significantly impacted by the COVID-19 pandemic. The economic environment and uncertainty related to the pandemic contributed to the $137.8 million provision for credit losses recognized under the new CECL accounting standard adopted by the Company on January 1, 2020. While the Company has not experienced a significant increase in charge-offs due to the COVID-19 pandemic to-date, the continued uncertainty regarding the severity and duration of the pandemic and related economic effects will continue to affect the Company’s estimate of its allowance for credit losses and resulting provision for credit losses. The Company’s interest income may also be negatively impacted in future periods as the Company continues to work with its affected borrowers to help them manage their financial position, by deferring payments, interest, and fees. Additionally, net interest margin has been reduced generally as a result of the low rate environment. These uncertainties and the resulting economic environment will continue to affect earnings and growth projections which may result in deterioration of asset quality in the Company's loan and investment portfolios, or fair value of other assets.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Bad
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