Brokerages expect Webster Financial Co. (NYSE:WBS) to post earnings of $0.86 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Webster Financial’s earnings. The lowest EPS estimate is $0.81 and the highest is $0.89. Webster Financial posted earnings per share of $0.64 during the same quarter last year, which would suggest a positive year over year growth rate of 34.4%. The business is scheduled to announce its next earnings report on Friday, July 20th.
According to Zacks, analysts expect that Webster Financial will report full year earnings of $3.54 per share for the current fiscal year, with EPS estimates ranging from $3.43 to $3.60. For the next fiscal year, analysts expect that the company will report earnings of $3.92 per share, with EPS estimates ranging from $3.74 to $4.16. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Webster Financial.
Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, April 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.06. The firm had revenue of $282.90 million for the quarter, compared to the consensus estimate of $276.34 million. Webster Financial had a return on equity of 10.60% and a net margin of 22.92%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 earnings per share.
Several research analysts have recently weighed in on the stock. ValuEngine raised shares of Webster Financial from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Barclays reaffirmed a “hold” rating and issued a $65.00 price target on shares of Webster Financial in a report on Sunday, April 22nd. Zacks Investment Research raised shares of Webster Financial from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Saturday, April 7th. Deutsche Bank upped their price target on shares of Webster Financial from $61.00 to $64.00 and gave the stock a “hold” rating in a report on Friday, May 4th. Finally, Wells Fargo & Co upped their price target on shares of Webster Financial from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $61.00.
Shares of NYSE:WBS traded down $1.36 during trading on Wednesday, hitting $63.76. 342,300 shares of the company were exchanged, compared to its average volume of 528,403. The company has a market cap of $6.02 billion, a P/E ratio of 24.62, a P/E/G ratio of 2.30 and a beta of 1.10. Webster Financial has a 52-week low of $44.04 and a 52-week high of $67.86. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.80 and a quick ratio of 0.80.
In other Webster Financial news, Director Joel S. Becker sold 7,473 shares of the company’s stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $61.00, for a total transaction of $455,853.00. Following the completion of the sale, the director now directly owns 61,795 shares in the company, valued at $3,769,495. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Joseph Crawford sold 4,000 shares of the company’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $61.03, for a total transaction of $244,120.00. Following the sale, the director now owns 10,792 shares of the company’s stock, valued at $658,635.76. The disclosure for this sale can be found here. In the last three months, insiders sold 21,304 shares of company stock worth $1,295,587. 1.96% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of WBS. Polaris Capital Management LLC boosted its position in Webster Financial by 62.8% during the first quarter. Polaris Capital Management LLC now owns 1,104,041 shares of the financial services provider’s stock valued at $61,164,000 after buying an additional 426,000 shares during the period. BlackRock Inc. boosted its position in Webster Financial by 4.3% during the first quarter. BlackRock Inc. now owns 8,485,535 shares of the financial services provider’s stock valued at $470,098,000 after buying an additional 353,365 shares during the period. Summit Trail Advisors LLC boosted its position in Webster Financial by 4,915.7% during the first quarter. Summit Trail Advisors LLC now owns 233,780 shares of the financial services provider’s stock valued at $234,000 after buying an additional 229,119 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Webster Financial by 1,329.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 152,900 shares of the financial services provider’s stock valued at $8,359,000 after buying an additional 142,200 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Webster Financial by 140.4% during the fourth quarter. Deutsche Bank AG now owns 171,800 shares of the financial services provider’s stock worth $9,646,000 after purchasing an additional 100,332 shares during the period. Institutional investors and hedge funds own 93.98% of the company’s stock.
About Webster Financial
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. It operates through four segments: Commercial Banking, Community Banking, HSA Bank, and Private 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.