WBS - Webster Financial Corporation: Loan Growth Slows But Management Remains Optimistic
2024-01-24 11:15:28 ET
Summary
- Webster Financial Corporation missed analysts' expectations for EPS and revenue in Q4 2023.
- Loan growth is slow, except for commercial real estate loans.
- The securities portfolio is increasing and maturing securities will be reinvested at current market rates.
Founded back in 1935, Webster Financial Corporation operates as a bank holding company ( WBS ) and is headquartered in Stamford, Connecticut. Far from its all-time high of $65 per share, it is gradually making up for lost ground. However, in Q4 2023 it failed to meet analysts' expectations in terms of EPS and revenue:
- Q4 Non-GAAP EPS of $1.46 missed by $0.02.
- Revenue of $634.8M (-9.9% Y/Y) missed by $44.32M.