$0.66 EPS Expected for Webster Financial Co. (WBS) This Quarter
Analysts expect Webster Financial Co. (NYSE:WBS) to report earnings of $0.66 per share for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Webster Financial’s earnings, with estimates ranging from $0.65 to $0.69. Webster Financial posted earnings per share of $0.60 during the same quarter last year, which indicates a positive year over year growth rate of 10%. The company is expected to announce its next earnings report on Thursday, January 18th.
On average, analysts expect that Webster Financial will report full year earnings of $2.60 per share for the current year, with EPS estimates ranging from $2.59 to $2.63. For the next financial year, analysts expect that the firm will report earnings of $2.96 per share, with EPS estimates ranging from $2.75 to $3.39. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Webster Financial.
Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.03. Webster Financial had a return on equity of 9.89% and a net margin of 21.09%. The company had revenue of $266.75 million during the quarter, compared to the consensus estimate of $269.03 million. During the same quarter last year, the firm earned $0.54 earnings per share.
A number of equities research analysts have recently weighed in on WBS shares. Keefe, Bruyette & Woods reissued a “buy” rating and set a $63.00 target price on shares of Webster Financial in a report on Friday, October 20th. Zacks Investment Research raised Webster Financial from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Wednesday, December 20th. ValuEngine downgraded Webster Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Deutsche Bank boosted their price target on Webster Financial from $51.00 to $53.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Webster Financial has an average rating of “Hold” and an average target price of $58.11.
In other Webster Financial news, Director Karen R. Osar sold 12,923 shares of Webster Financial stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $54.70, for a total value of $706,888.10. Following the transaction, the director now owns 36,984 shares in the company, valued at $2,023,024.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman James Copenhaver Smith sold 8,943 shares of Webster Financial stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $55.93, for a total value of $500,181.99. Following the completion of the transaction, the chairman now owns 316,103 shares in the company, valued at approximately $17,679,640.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,107 shares of company stock valued at $1,988,452. 2.20% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in WBS. First Trust Advisors LP grew its position in Webster Financial by 158.4% in the second quarter. First Trust Advisors LP now owns 28,966 shares of the financial services provider’s stock valued at $1,513,000 after acquiring an additional 17,757 shares during the last quarter. Legal & General Group Plc grew its position in Webster Financial by 7.0% in the second quarter. Legal & General Group Plc now owns 97,014 shares of the financial services provider’s stock valued at $5,065,000 after acquiring an additional 6,347 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Webster Financial by 12.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 59,936 shares of the financial services provider’s stock valued at $3,130,000 after acquiring an additional 6,800 shares during the last quarter. Utah Retirement Systems bought a new position in Webster Financial in the second quarter valued at about $874,000. Finally, Neuberger Berman Group LLC grew its position in Webster Financial by 5.8% in the second quarter. Neuberger Berman Group LLC now owns 11,419 shares of the financial services provider’s stock valued at $596,000 after acquiring an additional 621 shares during the last quarter. Hedge funds and other institutional investors own 86.77% of the company’s stock.
Webster Financial (NYSE:WBS) traded up $1.10 on Friday, hitting $57.42. The stock had a trading volume of 639,465 shares, compared to its average volume of 590,752. Webster Financial has a 12 month low of $44.04 and a 12 month high of $59.25. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $5,690.32, a P/E ratio of 22.70, a P/E/G ratio of 2.47 and a beta of 1.22.
About Webster Financial
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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