Webster Bank And Marathon Asset Management Announce Private Credit Joint Venture, Which Will Deliver Direct Lending Solutions To Sponsor-Backed Middle Market Companies

7/1/24 9:20:48 AM ET

Major Banks

Finance

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Synergistic and strategic partnership will finance middle market companies of private equity sponsors

Webster Financial Corporation, the holding company for Webster Bank, N.A. ("Webster Bank"), a top performing commercial bank with $76 billion in assets, and Marathon Asset Management, L.P. ("Marathon"), a leading global credit manager with $23 billion in assets under management, today announced they are forming a private credit joint venture, which will deliver direct lending solutions to sponsor-backed middle market companies.

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Recent Analyst Ratings for
$WBS

Date	Price Target	Rating	Analyst
8/5/2024	$54.00 → $57.00	Overweight → Equal-Weight	Morgan Stanley
3/8/2024	$70.00	Overweight	Barclays
1/24/2024	$60.00 → $65.00	Neutral → Overweight	JP Morgan
1/11/2024	$60.00	Buy	BofA Securities
12/1/2023	$51.00	Buy	Citigroup
9/12/2023	$56.00	Buy	Seaport Research Partners
5/25/2023	$47.00	Buy	Deutsche Bank
3/15/2023	$56.00	Buy	UBS

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Webster Financial Corporation Declares Common and Preferred Dividends
Webster Financial Corporation (NYSE:WBS), the holding company for Webster Bank, N.A., announced that its Board of Directors declared a quarterly cash dividend of $0.40 per share on its common stock. The dividend on common shares will be payable Nov. 12, 2024, to shareholders of record as of Nov. 1, 2024. On its Series F Preferred Stock, Webster declared a quarterly cash dividend of $328.125 per share ($0.328125 per each depositary share, 1,000 of which represent one share of Series F Preferred Stock), payable Dec. 16, 2024, to shareholders of record on Dec. 1, 2024. On its Series G Preferred Stock, Webster declared a quarterly cash dividend of $16.25 per share ($0.40625 per each deposita
10/22/24 5:00:00 PM ET
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Marathon Asset Management and Webster Bank Provide Senior Secured Financing for the Acquisition of PK Companies
Marathon Asset Management ("Marathon"), a leading global credit manager with more than $23 billion of Assets Under Management, and Webster Bank, N.A. ("Webster Bank"), a leading commercial bank in the Northeast with $76 billion in total assets, are pleased to announce the closing of a senior-secured financing to PK Companies Group, LLC ("PK") to help facilitate the acquisition by DC Capital Partners Management, LP ("DC Capital"). PK's founders reinvested equity in conjunction with this transaction. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241017029314/en/ Founded in 2004, PK specializes in non-discretionary, regulatory driv
10/17/24 9:00:00 AM ET
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Webster Reports Third Quarter 2024 EPS of $1.10; Adjusted EPS of $1.34
Webster Financial Corporation ("Webster") (NYSE:WBS), the holding company for Webster Bank, N.A., today announced net income available to common stockholders of $188.8 million, or $1.10 per diluted share, for the quarter ended September 30, 2024, compared to $222.3 million, or $1.28 per diluted share, for the quarter ended September 30, 2023. Third quarter 2024 results include $56.2 million pre-tax ($41.0 million after tax), or $0.241 per diluted share, of securities repositioning net losses, strategic restructuring costs, and other adjustments. Excluding these items, adjusted earnings per diluted share would have been $1.341 for the quarter ended September 30, 2024. "Webster delivered so
10/17/24 7:30:00 AM ET
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Leadership Updates

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Webster Financial Corporation Appoints CFO Successor; Names New Board Member
Neal Holland to assume CFO role following Glenn MacInnes' retirement Former OCC Deputy Comptroller Bill Haas joins Board of Directors Webster Financial Corporation (NYSE:WBS) ("Webster" or "the Company"), the holding company, for Webster Bank, N.A., (the "Bank") announced its Board of Directors approved both the appointment of William (Neal) Holland, as Executive Vice President, Finance of both the Company and the Bank, and the election of William (Bill) Haas, as a new non-management member of the Board of Directors of the Company and the Bank. In addition, the Board of Directors also appointed Holland as the Chief Financial Officer (CFO) for the Company and the Bank to be effective f
7/15/24 9:03:00 AM ET
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Webster Appoints Kristy Berner as Executive Vice President, General Counsel and Corporate Secretary
Webster Financial Corporation (NYSE:WBS), the holding company for Webster Bank, N.A. and its HSA Bank division, announced today that Kristy Berner has been appointed Executive Vice President, General Counsel and Corporate Secretary of Webster Financial Corporation and Webster Bank. She will lead all of Webster's corporate legal services. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230919111813/en/Kristy Berner, Executive Vice President, General Counsel and Corporate Secretary, Webster Bank and Webster Financial Corporation (Photo: Business Wire) Berner has more than twenty years' experience in the financial services industry,
9/19/23 1:12:00 PM ET
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Payoneer Announces CFO Transition and Provides Update on 2022 Financial Results
Bea Ordonez to be Successor for Michael Levine Payoneer Global Inc. ("Payoneer" or the "Company") (NASDAQ:PAYO), the financial technology company empowering the world's small businesses to transact, do business and grow globally, today announced the appointment of Bea Ordonez as the Company's Deputy Chief Financial Officer, effective January 16, 2023. Michael Levine, Payoneer's current CFO, will step down from his position in March 2023 at which time it is our expectation that the Board of Directors of the Company will appoint Ordonez as CFO, and she would report to Co-CEO John Caplan. "On behalf of John and everyone at Payoneer, I would like to express my sincere gratitude to Michael for
1/18/23 9:15:00 AM ET
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Webster Financial Corporation Declares Common and Preferred Dividends
Webster Financial Corporation (NYSE:WBS), the holding company for Webster Bank, N.A., announced that its Board of Directors declared a quarterly cash dividend of $0.40 per share on its common stock. The dividend on common shares will be payable Nov. 12, 2024, to shareholders of record as of Nov. 1, 2024. On its Series F Preferred Stock, Webster declared a quarterly cash dividend of $328.125 per share ($0.328125 per each depositary share, 1,000 of which represent one share of Series F Preferred Stock), payable Dec. 16, 2024, to shareholders of record on Dec. 1, 2024. On its Series G Preferred Stock, Webster declared a quarterly cash dividend of $16.25 per share ($0.40625 per each deposita
10/22/24 5:00:00 PM ET
$WBS
Major Banks
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Webster Reports Third Quarter 2024 EPS of $1.10; Adjusted EPS of $1.34
Webster Financial Corporation ("Webster") (NYSE:WBS), the holding company for Webster Bank, N.A., today announced net income available to common stockholders of $188.8 million, or $1.10 per diluted share, for the quarter ended September 30, 2024, compared to $222.3 million, or $1.28 per diluted share, for the quarter ended September 30, 2023. Third quarter 2024 results include $56.2 million pre-tax ($41.0 million after tax), or $0.241 per diluted share, of securities repositioning net losses, strategic restructuring costs, and other adjustments. Excluding these items, adjusted earnings per diluted share would have been $1.341 for the quarter ended September 30, 2024. "Webster delivered so
10/17/24 7:30:00 AM ET
$WBS
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Webster Financial Corporation Announces Q3 2024 Earnings Release and Conference Call
Webster Financial Corporation (NYSE:WBS), the holding company for Webster Bank, N.A., today announced the following details for its third quarter 2024 earnings release and conference call: Earnings Release: Thursday, October 17, 2024, at approximately 7:30 a.m. (Eastern) Conference Call: Thursday, October 17, 2024, at 9:00 a.m. (Eastern) Dial-in number: Toll Free: 888-330-2446; or International Callers: +1-240-789-2732 Passcode: 8607257 Webcast: Via Webster's Investor Relations website at investors.websterbank.com Webcast replay: Will be available shortly after the call's completion, also at investors.websterbank.co
10/8/24 5:10:00 PM ET
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Webster Bank And Marathon Asset Management Announce Private Credit Joint Venture, Which Will Deliver Direct Lending Solutions To Sponsor-Backed Middle Market Companies

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Recent Analyst Ratings for $WBS

$WBS Analyst Ratings

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Webster Financial downgraded by Morgan Stanley with a new price target

Barclays initiated coverage on Webster Financial with a new price target

Webster Financial upgraded by JP Morgan with a new price target

$WBS SEC Filings

Webster Financial Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Regulation FD Disclosure, Financial Statements and Exhibits

SEC Form 10-Q filed by Webster Financial Corporation

Webster Financial Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Regulation FD Disclosure, Financial Statements and Exhibits

$WBS Press Releases

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Webster Financial Corporation Declares Common and Preferred Dividends

Marathon Asset Management and Webster Bank Provide Senior Secured Financing for the Acquisition of PK Companies

Webster Reports Third Quarter 2024 EPS of $1.10; Adjusted EPS of $1.34

$WBS Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Chief Human Resources Officer Evans Javier L. sold $581,972 worth of shares (10,137 units at $57.41), decreasing direct ownership by 31% to 22,657 units (SEC Form 4)

Head of Consumer Banking Griffin James Mi sold $147,769 worth of shares (2,557 units at $57.79), decreasing direct ownership by 17% to 12,883 units (SEC Form 4)

President, Commercial Banking Motl Christopher J sold $335,712 worth of shares (6,000 units at $55.95), decreasing direct ownership by 11% to 49,491 units (SEC Form 4)

$WBS Large Ownership Changes

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SEC Form SC 13G/A filed by Webster Financial Corporation (Amendment)

SEC Form SC 13G/A filed by Webster Financial Corporation (Amendment)

SEC Form SC 13G/A filed by Webster Financial Corporation (Amendment)

$WBS Leadership Updates

Live Leadership Updates

Webster Financial Corporation Appoints CFO Successor; Names New Board Member

Webster Appoints Kristy Berner as Executive Vice President, General Counsel and Corporate Secretary

Payoneer Announces CFO Transition and Provides Update on 2022 Financial Results

$WBS Market Insights

Live Market Insights

Breaking Down Webster Finl: 5 Analysts Share Their Views

RBC Capital Maintains Outperform on Webster Finl, Lowers Price Target to $51

Webster Financial shares are trading lower after the company reported worse-than-expected Q2 financial results.

$WBS Financials

Live finance-specific insights

Webster Financial Corporation Declares Common and Preferred Dividends

Webster Reports Third Quarter 2024 EPS of $1.10; Adjusted EPS of $1.34

Webster Financial Corporation Announces Q3 2024 Earnings Release and Conference Call

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