Wall Street analysts predict that Webster Financial Co. (NYSE:WBS) will announce $0.66 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Webster Financial’s earnings, with estimates ranging from $0.65 to $0.68. Webster Financial posted earnings of $0.60 per share during the same quarter last year, which would suggest a positive year over year growth rate of 10%. The company is expected to announce its next earnings report on Thursday, January 18th.
According to Zacks, analysts expect that Webster Financial will report full year earnings of $2.60 per share for the current fiscal year, with EPS estimates ranging from $2.59 to $2.63. For the next financial year, analysts anticipate that the business will post earnings of $2.91 per share, with EPS estimates ranging from $2.75 to $3.39. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Webster Financial.
Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.03. Webster Financial had a net margin of 21.09% and a return on equity of 9.89%. The firm had revenue of $266.75 million for the quarter, compared to analyst estimates of $269.03 million. During the same quarter last year, the firm posted $0.54 earnings per share.
WBS has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $63.00 price objective on shares of Webster Financial in a research note on Friday, October 20th. Deutsche Bank lifted their price objective on shares of Webster Financial from $51.00 to $53.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Boenning Scattergood reiterated a “hold” rating on shares of Webster Financial in a research note on Friday, October 20th. Wells Fargo & Company raised their price target on shares of Webster Financial from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Finally, ValuEngine downgraded shares of Webster Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $55.89.
In related news, EVP Daniel Bley sold 1,486 shares of Webster Financial stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $54.74, for a total transaction of $81,343.64. Following the sale, the executive vice president now directly owns 25,547 shares in the company, valued at $1,398,442.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction of $500,181.99. Following the sale, the chairman now owns 316,103 shares in the company, valued at $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 currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Chilton Investment Co. LLC bought a new stake in shares of Webster Financial in the 2nd quarter valued at approximately $2,994,000. Rhumbline Advisers lifted 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 worth $10,597,000 after buying an additional 17,810 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Webster Financial by 65.5% during the second quarter. BNP Paribas Arbitrage SA now owns 34,826 shares of the financial services provider’s stock worth $1,819,000 after buying an additional 13,781 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Webster Financial during the second quarter worth approximately $7,481,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Webster Financial by 3,821.0% during the second quarter. Victory Capital Management Inc. now owns 804,776 shares of the financial services provider’s stock worth $42,026,000 after buying an additional 784,251 shares during the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.
Webster Financial (WBS) traded up $0.86 during midday trading on Friday, reaching $57.23. 416,100 shares of the company traded hands, compared to its average volume of 696,961. The stock has a market capitalization of $5,586.25, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 2.71 and a beta of 1.23. Webster Financial has a 52-week low of $44.04 and a 52-week high of $59.25. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.81 and a quick ratio of 0.81.
ILLEGAL ACTIVITY WARNING: “$0.66 EPS Expected for Webster Financial Co. (WBS) This Quarter” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The original version of this piece of content can be read at https://www.dispatchtribunal.com/2018/01/14/0-66-eps-expected-for-webster-financial-co-wbs-this-quarter.html.
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.
Get a free copy of the Zacks research report on Webster Financial (WBS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Webster Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial and related companies with MarketBeat.com's FREE daily email newsletter.