NYSE$WBS
Webster Financial Corporation · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Reported earnings of $0.39 per diluted share, impacted by CECL adoption and COVID-19.
Webster Financial Corporation announced earnings applicable to common shareholders of $36.0 million, or $0.39 per diluted share, for the quarter ended March 31, 2020. The results reflect a provision for credit losses of $76.0 million due to the adoption of CECL and the impact of COVID-19.
- Results include the adoption of CECL and the impact of COVID-19 resulting in a provision of $76.0 million; allowance coverage of 1.60 percent.
- Revenue of $304.2 million.
- Loan growth of $2.1 billion, or 11.0 percent from a year ago, led by commercial and commercial real estate, which increased 15.6 percent.
- Deposit growth of $1.8 billion, or 7.7 percent from a year ago, with growth of $527 million, or 8.5 percent, in HSA deposits.
Headline financials
Revenue & EPS history
Webster · Revenue · Quarterly
$231M
Revenue by segment
Webster · $309M total across 3 segments · Q1 2020
- Consumer Banking$127M—41.2%
- Commercial Banking$113M—36.5%
- Healthcare Financial$69.1M—22.4%
Forward guidance
Webster has responded quickly with programs to support our Employees, Customers and the Communities where we live and work.
Tailwinds
- 75% of our bankers are currently working remotely
- Special pay considerations and additional PTO for essential front line employees
- No furloughs; bankers are at 100% pay
- Zero-interest loans up to $5,000 are available to assist employees and their families facing unforeseen challenges due to COVID-19
- Instituted a 90-day foreclosure moratorium on residential loans
Headwinds
- Increased deposit limits; waiving penalties for early CD withdrawals
- Waiving or reducing certain fees
- Not reporting payment deferrals to credit bureaus
- Participating in the SBA Paycheck Protection Program with the initial round resulting in approximately $650 million in SBA approved loans
- Payment modifications (needs based / COVID related impact)
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+0.5%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+2.8%
Avg return
30 days after
51%
35 / 69 earnings
Positive
+14.5%
Q3 2020
Best reaction
-11.9%
Q1 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.6% | +0.5% | +1.1% | |
| Q4 2025 | -3.2% | -2.6% | +10.4% | |
| Q3 2025 | +0.4% | +3.3% | +4.3% | |
| Q2 2025 | -1.6% | -0.1% | +5.3% | |
| Q1 2025 | +1.6% | +1.1% | +8.7% | |
| Q4 2024 | +4.0% | +2.4% | +2.0% | |
| Q3 2024 | +8.8% | +6.8% | +23.5% | |
| Q2 2024 | -5.0% | +0.8% | -7.6% | |
| Q1 2024 | -3.5% | -4.5% | -7.1% | |
| Q4 2023 | +0.5% | +0.1% | -7.9% | |
| Q3 2023 | -2.9% | -5.6% | +9.8% | |
| Q2 2023 | +1.3% | +3.4% | -5.6% | |
| Q1 2023 | -2.6% | -9.0% | -9.5% | |
| Q4 2022 | +7.5% | +11.3% | +12.7% | |
| Q3 2022 | +4.8% | +8.9% | +8.4% | |
| Q2 2022 | -2.8% | -2.5% | +5.9% | |
| Q1 2022 | +2.7% | +3.9% | +0.2% | |
| Q4 2021 | -1.5% | -1.6% | -2.8% | |
| Q3 2021 | -0.8% | -1.4% | -2.7% | |
| Q2 2021 | -0.9% | -1.4% | +0.8% | |
| Q1 2021 | -11.9% | -7.1% | -0.3% | |
| Q4 2020 | -2.2% | -2.8% | +0.1% | |
| Q3 2020 | +14.5% | +5.4% | +29.1% | |
| Q2 2020 | +1.7% | -1.0% | +2.9% | |
| Q1 2020 | -1.9% | +1.1% | +6.6% | |
| Q4 2019 | -5.2% | -8.1% | -10.5% | |
| Q3 2019 | -6.1% | -4.8% | +0.5% | |
| Q2 2019 | +4.7% | +5.6% | -2.9% | |
| Q1 2019 | -2.8% | +0.3% | -7.5% | |
| Q4 2018 | +5.5% | +4.1% | +4.6% | |
| Q3 2018 | +4.3% | +1.1% | +1.9% | |
| Q2 2018 | +1.5% | +2.8% | +2.3% | |
| Q1 2018 | +8.7% | +10.1% | +18.1% | |
| Q4 2017 | +0.1% | -1.6% | -5.2% | |
| Q3 2017 | +4.7% | +4.5% | +0.8% | |
| Q2 2017 | -3.6% | -3.4% | -12.8% | |
| Q1 2017 | +3.4% | +6.8% | -1.5% | |
| Q4 2016 | +0.2% | +1.5% | +7.0% | |
| Q3 2016 | +4.3% | +4.8% | +23.2% | |
| Q2 2016 | -1.7% | -1.1% | +4.1% | |
| Q1 2016 | -1.4% | — | — | |
| Q4 2015 | -2.6% | — | — | |
| Q3 2015 | -1.5% | — | — | |
| Q2 2015 | -3.3% | — | — | |
| Q1 2015 | -3.6% | — | — | |
| Q4 2014 | +5.7% | — | — | |
| Q3 2014 | +2.7% | — | — | |
| Q2 2014 | -3.7% | — | — | |
| Q1 2014 | +2.7% | — | — | |
| Q4 2013 | +4.6% | — | — | |
| Q3 2013 | +5.3% | — | — | |
| Q2 2013 | +3.6% | — | — | |
| Q1 2013 | -4.0% | — | — | |
| Q4 2009 | +1.3% | — | — | |
| Q4 2012 | +3.7% | — | — | |
| Q3 2012 | -6.0% | — | — | |
| Q2 2012 | +6.3% | — | — | |
| Q1 2012 | +0.4% | — | — | |
| Q4 2011 | -3.8% | — | — | |
| Q4 2010 | -3.8% | — | — | |
| Q4 2008 | -3.8% | — | — | |
| Q1 2010 | -3.8% | — | — | |
| Q3 2011 | +5.5% | — | — | |
| Q2 2011 | -0.9% | — | — | |
| Q1 2011 | +1.2% | — | — | |
| Q3 2010 | +5.3% | — | — | |
| Q3 2009 | +5.3% | — | — | |
| Q2 2009 | -0.5% | — | — | |
| Q2 2010 | -0.5% | — | — |
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