Webster Financial Co. (WBS) Expected to Announce Earnings of $1.01 Per Share

Analysts forecast that Webster Financial Co. (NYSE:WBS) will announce earnings of $1.01 per share for the current quarter, Zacks reports. Seven analysts have issued estimates for Webster Financial’s earnings, with the lowest EPS estimate coming in at $0.98 and the highest estimate coming in at $1.03. Webster Financial reported earnings per share of $0.85 during the same quarter last year, which would suggest a positive year over year growth rate of 18.8%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, April 18th.

According to Zacks, analysts expect that Webster Financial will report full year earnings of $4.14 per share for the current fiscal year, with EPS estimates ranging from $4.05 to $4.22. For the next fiscal 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 Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for 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, beating analysts’ consensus estimates of $0.98 by $0.03. Webster Financial had a net margin of 26.94% and a return on equity of 13.36%. The company had revenue of $310.30 million for the quarter, compared to the consensus estimate of $305.55 million. During the same period in the prior year, the company posted $0.73 EPS. The company’s revenue was up 14.5% compared to the same quarter last year.

Several research firms have recently commented on WBS. ValuEngine raised Webster Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial in a report on Thursday, January 24th. Zacks Investment Research raised Webster Financial from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Tuesday, March 12th. Finally, Barclays cut their price target on Webster Financial from $68.00 to $62.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Webster Financial presently has a consensus rating of “Hold” and an average price target of $62.67.

In other Webster Financial news, Director John Joseph Crawford sold 1,207 shares of Webster Financial stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $55.85, for a total value of $67,410.95. Following the completion of the sale, the director now directly owns 18,008 shares in the company, valued at $1,005,746.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Copenhaver Smith sold 55,000 shares of Webster Financial stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $55.06, for a total value of $3,028,300.00. Following the completion of the sale, the director now owns 310,984 shares of the company’s stock, valued at $17,122,779.04. 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 three months. Insiders own 1.53% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Enlightenment Research LLC purchased a new position in shares of Webster Financial during the 4th quarter valued at $25,000. JOYN Advisors Inc. lifted its position in shares of Webster Financial by 413.7% during the 4th quarter. JOYN Advisors Inc. now owns 524 shares of the financial services provider’s stock valued at $26,000 after buying an additional 422 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Webster Financial by 4,934.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,816,632 shares of the financial services provider’s stock valued at $37,000 after buying an additional 1,780,548 shares during the last quarter. Toronto Dominion Bank purchased a new position in shares of Webster Financial during the 4th quarter valued at $74,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Webster Financial during the 4th quarter valued at $84,000. Institutional investors and hedge funds own 91.38% of the company’s stock.

Shares of WBS stock opened at $54.84 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $4.95 billion, a PE ratio of 14.66, a P/E/G ratio of 1.62 and a beta of 1.19. Webster Financial has a one year low of $45.38 and a one year high of $69.63.

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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