Wall Street analysts predict that Webster Financial Co. (NYSE:WBS) will announce sales of $272.01 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Webster Financial’s earnings, with the lowest sales estimate coming in at $269.11 million and the highest estimate coming in at $275.89 million. Webster Financial posted sales of $255.88 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.3%. The firm is scheduled to report its next earnings results on Thursday, January 18th.
On average, analysts expect that Webster Financial will report full year sales of $272.01 million for the current fiscal year, with estimates ranging from $1.05 billion to $1.07 billion. For the next financial year, analysts expect that the firm will report sales of $1.14 billion per share, with estimates ranging from $1.12 billion to $1.17 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Webster Financial.
Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $269.03 million. During the same quarter last year, the firm earned $0.54 EPS.
In related news, Chairman James Copenhaver Smith sold 8,943 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $55.93, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Joseph Crawford sold 11,516 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $54.83, for a total value of $631,422.28. Following the transaction, the director now owns 16,953 shares of the company’s stock, valued at approximately $929,532.99. The disclosure for this sale can be found here. Insiders have sold a total of 36,107 shares of company stock valued at $1,988,452 in the last 90 days. 2.20% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. bought a new position in Webster Financial in the 3rd quarter valued at $87,888,000. Pzena Investment Management LLC raised its position in Webster Financial by 2.0% in the 3rd quarter. Pzena Investment Management LLC now owns 1,543,338 shares of the financial services provider’s stock valued at $81,102,000 after purchasing an additional 30,216 shares during the last quarter. Koch Industries Inc. bought a new position in Webster Financial in the 2nd quarter valued at $1,387,000. Wasatch Advisors Inc. raised its position in Webster Financial by 1.1% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,250,812 shares of the financial services provider’s stock valued at $65,730,000 after purchasing an additional 13,041 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Webster Financial by 27.8% in the 3rd quarter. Wells Fargo & Company MN now owns 1,186,320 shares of the financial services provider’s stock valued at $62,342,000 after purchasing an additional 258,311 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.
Shares of Webster Financial (NYSE WBS) opened at $57.08 on Wednesday. Webster Financial has a fifty-two week low of $44.04 and a fifty-two week high of $59.25. The firm has a market capitalization of $5,370.00, a P/E ratio of 22.51, a PEG ratio of 2.74 and a beta of 1.22. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.69.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th were given a dividend of $0.26 per share. The ex-dividend date was Monday, November 6th. This represents a $1.04 annualized dividend and a dividend yield of 1.82%. Webster Financial’s dividend payout ratio (DPR) is presently 40.94%.
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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