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Webster Financial (WBS) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Webster Financial (WBS - Free Report) reported $677.52 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 1.9%. EPS of $1.55 for the same period compares to $1.46 a year ago.
The reported revenue represents a surprise of -2.00% over the Zacks Consensus Estimate of $691.34 million. With the consensus EPS estimate being $1.50, the EPS surprise was +3.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 41.8% compared to the 43.7% average estimate based on seven analysts.
Net Interest Margin: 3.5% versus the seven-analyst average estimate of 3.5%.
Average balance - Total interest-earning assets: $67.15 billion versus $68.81 billion estimated by six analysts on average.
Net charge-offs/average loans and leases (annualized): 0.2% versus 0.3% estimated by five analysts on average.
Total nonperforming loans and leases: $215.05 million compared to the $241.63 million average estimate based on two analysts.
Total Non-Interest Income: $90.38 million versus $90.37 million estimated by seven analysts on average.
Loan and lease related fees: $19.97 million versus $20.96 million estimated by six analysts on average.
Deposit service fees: $41.01 million versus the six-analyst average estimate of $45.02 million.
Wealth and investment services: $7.25 million versus the six-analyst average estimate of $7.67 million.
Non-interest income- Other income: $15.50 million compared to the $9.31 million average estimate based on five analysts.
Tax-equivalent Net Interest Income: $605.04 million versus $604.70 million estimated by five analysts on average.
Net Interest Income: $587.14 million versus $597.11 million estimated by five analysts on average.
Shares of Webster Financial have returned -3.1% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Webster Financial (WBS) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Webster Financial (WBS - Free Report) reported $677.52 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 1.9%. EPS of $1.55 for the same period compares to $1.46 a year ago.
The reported revenue represents a surprise of -2.00% over the Zacks Consensus Estimate of $691.34 million. With the consensus EPS estimate being $1.50, the EPS surprise was +3.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 41.8% compared to the 43.7% average estimate based on seven analysts.
- Net Interest Margin: 3.5% versus the seven-analyst average estimate of 3.5%.
- Average balance - Total interest-earning assets: $67.15 billion versus $68.81 billion estimated by six analysts on average.
- Net charge-offs/average loans and leases (annualized): 0.2% versus 0.3% estimated by five analysts on average.
- Total nonperforming loans and leases: $215.05 million compared to the $241.63 million average estimate based on two analysts.
- Total Non-Interest Income: $90.38 million versus $90.37 million estimated by seven analysts on average.
- Loan and lease related fees: $19.97 million versus $20.96 million estimated by six analysts on average.
- Deposit service fees: $41.01 million versus the six-analyst average estimate of $45.02 million.
- Wealth and investment services: $7.25 million versus the six-analyst average estimate of $7.67 million.
- Non-interest income- Other income: $15.50 million compared to the $9.31 million average estimate based on five analysts.
- Tax-equivalent Net Interest Income: $605.04 million versus $604.70 million estimated by five analysts on average.
- Net Interest Income: $587.14 million versus $597.11 million estimated by five analysts on average.
View all Key Company Metrics for Webster Financial here>>>Shares of Webster Financial have returned -3.1% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.