Webster Financial Co. (NYSE:WBS) – Stock analysts at Boenning Scattergood increased their FY2018 earnings estimates for shares of Webster Financial in a research note issued on Wednesday. Boenning Scattergood analyst M. Schultheis now expects that the financial services provider will post earnings of $3.39 per share for the year, up from their prior forecast of $2.85. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Webster Financial’s FY2019 earnings at $3.75 EPS.
Other equities research analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Webster Financial from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $63.00 target price on shares of Webster Financial in a research report on Friday, October 20th. Zacks Investment Research upgraded shares of Webster Financial from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Wednesday. Deutsche Bank raised their price objective on shares of Webster Financial from $51.00 to $53.00 and gave the stock a “hold” rating in a research report on Wednesday, November 8th. Finally, Barclays set a $55.00 price objective on shares of Webster Financial and gave the stock a “hold” rating in a research report on Friday, October 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Webster Financial presently has an average rating of “Hold” and an average target price of $56.78.
Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.03. The business had revenue of $266.75 million for the quarter, compared to the consensus estimate of $269.03 million. Webster Financial had a net margin of 21.09% and a return on equity of 9.89%. During the same period last year, the firm posted $0.54 earnings per share.
In other Webster Financial news, Director Karen R. Osar sold 12,923 shares of Webster Financial stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $54.70, for a total transaction of $706,888.10. Following the completion of the sale, the director now directly owns 36,984 shares in the company, valued at $2,023,024.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 owns 25,547 shares of the company’s stock, valued at $1,398,442.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,107 shares of company stock valued at $1,988,452. 2.20% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new position in shares of Webster Financial in the third quarter valued at approximately $202,000. Sterling Capital Management LLC boosted its stake in shares of Webster Financial by 0.6% in the third quarter. Sterling Capital Management LLC now owns 551,847 shares of the financial services provider’s stock valued at $29,000,000 after purchasing an additional 3,280 shares during the period. California Public Employees Retirement System boosted its stake in shares of Webster Financial by 1.5% in the third quarter. California Public Employees Retirement System now owns 198,074 shares of the financial services provider’s stock valued at $10,409,000 after purchasing an additional 2,921 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Webster Financial in the third quarter valued at approximately $54,672,000. Finally, Grandeur Peak Global Advisors LLC purchased a new position in shares of Webster Financial in the third quarter valued at approximately $684,000. Institutional investors and hedge funds own 93.40% of the company’s stock.
TRADEMARK VIOLATION WARNING: “FY2018 Earnings Forecast for Webster Financial Co. (WBS) Issued By Boenning Scattergood” was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this article on another publication, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this article can be viewed at https://www.com-unik.info/2017/12/23/fy2018-earnings-forecast-for-webster-financial-co-wbs-issued-by-boenning-scattergood.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.
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.