Zacks: Analysts Anticipate Webster Financial Co. (NYSE:WBS) Will Announce Earnings of $0.98 Per Share

Brokerages expect that Webster Financial Co. (NYSE:WBS) will post earnings of $0.98 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Webster Financial’s earnings, with the lowest EPS estimate coming in at $0.96 and the highest estimate coming in at $0.99. Webster Financial posted earnings of $1.01 per share during the same quarter last year, which would indicate a negative year over year growth rate of 3%. The firm is expected to issue its next earnings report on Thursday, January 23rd.

On average, analysts expect that Webster Financial will report full year earnings of $4.09 per share for the current fiscal year, with EPS estimates ranging from $4.08 to $4.10. For the next year, analysts anticipate that the firm will post earnings of $3.83 per share, with EPS estimates ranging from $3.70 to $4.00. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Webster Financial.

Webster Financial (NYSE:WBS) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $1.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.01). The firm had revenue of $310.50 million for the quarter, compared to the consensus estimate of $314.65 million. Webster Financial had a net margin of 27.14% and a return on equity of 13.49%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share.

A number of brokerages have weighed in on WBS. Compass Point lowered Webster Financial from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 22nd. Wedbush reaffirmed a “buy” rating and set a $53.00 target price (up from $51.00) on shares of Webster Financial in a research report on Monday, November 25th. Stephens began coverage on Webster Financial in a research report on Monday, October 28th. They set an “underweight” rating and a $42.00 target price for the company. Zacks Investment Research lowered Webster Financial from a “hold” rating to a “sell” rating and set a $47.00 target price for the company. in a research report on Saturday, October 19th. Finally, ValuEngine raised Webster Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Webster Financial presently has an average rating of “Hold” and a consensus target price of $52.43.

NYSE WBS traded up $0.10 on Wednesday, reaching $48.79. 589,100 shares of the stock traded hands, compared to its average volume of 578,314. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.81 and a current ratio of 0.81. The company has a fifty day moving average price of $46.83 and a 200-day moving average price of $46.99. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.49 and a beta of 1.30. Webster Financial has a 12 month low of $42.29 and a 12 month high of $60.98.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Friday, November 8th. Webster Financial’s payout ratio is 42.78%.

In related news, Director John Joseph Crawford sold 1,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.68, for a total transaction of $45,680.00. Following the transaction, the director now directly owns 14,099 shares of the company’s stock, valued at approximately $644,042.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Pettie sold 4,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $46.32, for a total value of $185,280.00. Following the transaction, the director now directly owns 35,272 shares in the company, valued at $1,633,799.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,000 shares of company stock valued at $321,640. Corporate insiders own 1.53% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. State Street Corp increased its position in Webster Financial by 1.0% during the 3rd quarter. State Street Corp now owns 3,151,372 shares of the financial services provider’s stock valued at $147,705,000 after buying an additional 32,011 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Webster Financial by 11.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,501,800 shares of the financial services provider’s stock valued at $119,511,000 after purchasing an additional 248,126 shares during the last quarter. Macquarie Group Ltd. grew its stake in Webster Financial by 2.3% during the 2nd quarter. Macquarie Group Ltd. now owns 2,244,421 shares of the financial services provider’s stock valued at $107,216,000 after purchasing an additional 50,601 shares during the last quarter. Wasatch Advisors Inc. grew its stake in Webster Financial by 28.2% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,000,712 shares of the financial services provider’s stock valued at $95,574,000 after purchasing an additional 440,471 shares during the last quarter. Finally, GW&K Investment Management LLC grew its stake in Webster Financial by 34.0% during the 3rd quarter. GW&K Investment Management LLC now owns 1,330,657 shares of the financial services provider’s stock valued at $62,368,000 after purchasing an additional 337,580 shares during the last quarter. 90.61% of the stock is currently owned by institutional investors.

About Webster Financial

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.

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

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