Webster Financial Co. (NYSE:WBS) – Research analysts at Jefferies Group boosted their FY2018 earnings per share (EPS) estimates for shares of Webster Financial in a research report issued on Monday. Jefferies Group analyst C. Haire now forecasts that the financial services provider will earn $3.11 per share for the year, up from their prior forecast of $2.75. Jefferies Group also issued estimates for Webster Financial’s FY2019 earnings at $3.48 EPS.
Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, October 19th. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.03. The company had revenue of $266.75 million during the quarter, compared to the consensus estimate of $269.03 million. Webster Financial had a return on equity of 9.89% and a net margin of 21.09%. During the same period last year, the firm earned $0.54 earnings per share.
Several other brokerages also recently weighed in on WBS. Zacks Investment Research downgraded Webster Financial from a “buy” rating to a “hold” rating and set a $63.00 target price for the company. in a research note on Saturday, January 6th. Wells Fargo & Co restated a “market perform” rating and set a $60.00 target price (up from $55.00) on shares of Webster Financial in a research note on Tuesday. Keefe, Bruyette & Woods restated a “buy” rating and set a $71.00 target price on shares of Webster Financial in a research note on Friday, December 22nd. Piper Jaffray Companies upgraded Webster Financial from an “underweight” rating to a “neutral” rating and set a $55.00 target price for the company in a research note on Friday, January 5th. Finally, Barclays raised their target price on Webster Financial from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Webster Financial currently has an average rating of “Hold” and an average target price of $58.67.
Shares of Webster Financial (WBS) traded up $0.37 during trading on Wednesday, hitting $57.99. The stock had a trading volume of 591,400 shares, compared to its average volume of 510,457. 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 $5,360.00, a P/E ratio of 22.83, a PEG ratio of 2.43 and a beta of 1.22. Webster Financial has a 12 month low of $44.04 and a 12 month high of $59.26.
In other news, Director Karen R. Osar sold 12,923 shares of Webster Financial stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $54.70, for a total transaction of $706,888.10. Following the sale, the director now owns 36,984 shares of the company’s stock, valued at $2,023,024.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman James Copenhaver Smith sold 8,943 shares of Webster Financial stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $55.93, for a total value of $500,181.99. Following the sale, the chairman now directly owns 316,103 shares in the company, valued at approximately $17,679,640.79. The disclosure for this sale can be found here. Insiders sold 36,107 shares of company stock worth $1,988,452 in the last three months. 2.20% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in shares of Webster Financial by 9.7% during the third quarter. Rhumbline Advisers now owns 201,660 shares of the financial services provider’s stock valued at $10,597,000 after buying an additional 17,810 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Webster Financial during the second quarter valued at approximately $7,481,000. Schwab Charles Investment Management Inc. raised its holdings in Webster Financial by 38.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 491,173 shares of the financial services provider’s stock worth $25,812,000 after purchasing an additional 137,635 shares in the last quarter. Icon Advisers Inc. Co. raised its holdings in Webster Financial by 140.7% during the second quarter. Icon Advisers Inc. Co. now owns 26,000 shares of the financial services provider’s stock worth $1,358,000 after purchasing an additional 15,200 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in Webster Financial by 20.3% during the second quarter. Artisan Partners Limited Partnership now owns 696,035 shares of the financial services provider’s stock worth $36,347,000 after purchasing an additional 117,280 shares in the last quarter. 86.77% of the stock is currently owned by institutional investors.
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Webster Financial 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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