Webster Financial Corporation (WBS) Scheduled to Post Quarterly Earnings on Thursday
Webster Financial Corporation (NYSE:WBS) will be announcing its earnings results before the market opens on Thursday, October 19th. Analysts expect the company to announce earnings of $0.64 per share for the quarter.
Webster Financial Corporation (NYSE:WBS) last issued its earnings results on Friday, July 21st. The financial services provider reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The firm had revenue of $262.50 million for the quarter, compared to analysts’ expectations of $260.91 million. Webster Financial Corporation had a net margin of 20.43% and a return on equity of 9.49%. During the same quarter last year, the company earned $0.53 earnings per share. On average, analysts expect Webster Financial Corporation to post $2.55 EPS for the current fiscal year and $2.82 EPS for the next fiscal year.
Shares of Webster Financial Corporation (NYSE:WBS) opened at 53.14 on Tuesday. The company has a 50-day moving average of $49.70 and a 200 day moving average of $50.43. The firm has a market cap of $4.89 billion, a PE ratio of 22.14 and a beta of 1.26. Webster Financial Corporation has a one year low of $36.96 and a one year high of $57.50.
WBS has been the topic of several recent research reports. Zacks Investment Research raised Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Saturday, July 8th. ValuEngine raised Webster Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Jefferies Group LLC reissued a “hold” rating and set a $53.00 price target on shares of Webster Financial Corporation in a research report on Friday, July 14th. BidaskClub raised Webster Financial Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Wedbush reissued an “outperform” rating and set a $60.00 price target on shares of Webster Financial Corporation in a research report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $53.00.
In other Webster Financial Corporation news, EVP Nitin J. Mhatre sold 31,940 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $51.34, for a total value of $1,639,799.60. Following the transaction, the executive vice president now directly owns 23,120 shares of the company’s stock, valued at approximately $1,186,980.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel Bley sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $51.20, for a total value of $409,600.00. Following the completion of the transaction, the executive vice president now directly owns 25,657 shares in the company, valued at $1,313,638.40. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
Webster Financial Corporation Company Profile
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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