Brokerages Expect Webster Financial Co. (WBS) Will Announce Earnings of $1.01 Per Share

Analysts expect Webster Financial Co. (NYSE:WBS) to announce earnings of $1.01 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Webster Financial’s earnings, with the highest EPS estimate coming in at $1.03 and the lowest estimate coming in at $0.98. Webster Financial posted earnings per share of $0.85 in the same quarter last year, which indicates a positive year over year growth rate of 18.8%. The company is expected to announce its next earnings results before the market opens on Thursday, April 18th.

On average, analysts expect that Webster Financial will report full year earnings of $4.14 per share for the current year, with EPS estimates ranging from $4.05 to $4.22. For the next financial year, analysts forecast that the business will post earnings of $4.32 per share, with EPS estimates ranging from $4.20 to $4.49. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Webster Financial.

Webster Financial (NYSE:WBS) last released its earnings results on Thursday, January 24th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.03. Webster Financial had a return on equity of 13.36% and a net margin of 26.94%. The firm had revenue of $310.30 million during the quarter, compared to analysts’ expectations of $305.55 million. During the same quarter in the prior year, the company earned $0.73 EPS. The company’s revenue was up 14.5% on a year-over-year basis.

Several equities research analysts recently issued reports on WBS shares. Zacks Investment Research upgraded shares of Webster Financial from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Tuesday, March 12th. ValuEngine downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Boenning Scattergood restated a “hold” rating on shares of Webster Financial in a research report on Thursday, January 24th. Finally, Barclays cut their price objective on shares of Webster Financial from $68.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $62.67.

In other news, Director John Joseph Crawford sold 1,207 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $55.85, for a total transaction of $67,410.95. Following the transaction, the director now directly owns 18,008 shares of the company’s stock, valued at $1,005,746.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Copenhaver Smith sold 45,859 shares of the firm’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $53.94, for a total transaction of $2,473,634.46. The disclosure for this sale can be found here. Insiders have sold 102,066 shares of company stock worth $5,569,345 over the last ninety days. Insiders own 1.53% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Standard Life Aberdeen plc increased its holdings in shares of Webster Financial by 1.6% in the 3rd quarter. Standard Life Aberdeen plc now owns 60,246 shares of the financial services provider’s stock worth $3,551,000 after buying an additional 931 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Webster Financial by 28.0% in the third quarter. Hsbc Holdings PLC now owns 23,033 shares of the financial services provider’s stock worth $1,357,000 after purchasing an additional 5,045 shares during the period. Riverhead Capital Management LLC increased its stake in shares of Webster Financial by 38.2% in the third quarter. Riverhead Capital Management LLC now owns 9,771 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 2,700 shares during the period. Renaissance Technologies LLC increased its stake in shares of Webster Financial by 16.4% in the third quarter. Renaissance Technologies LLC now owns 136,631 shares of the financial services provider’s stock worth $8,056,000 after purchasing an additional 19,300 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Webster Financial in the third quarter worth about $632,000. 91.38% of the stock is currently owned by institutional investors.

NYSE:WBS traded down $0.44 during mid-day trading on Friday, hitting $54.28. The stock had a trading volume of 3,624 shares, compared to its average volume of 460,614. Webster Financial has a twelve month low of $45.38 and a twelve month high of $69.63. The company has a market capitalization of $4.96 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 1.62 and a beta of 1.19. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.83 and a current ratio of 0.83.

Webster Financial Company Profile

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.

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Earnings History and Estimates for Webster Financial (NYSE:WBS)

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