$0.66 Earnings Per Share Expected for Webster Financial Co. (NYSE:WBS) This Quarter

Brokerages expect Webster Financial Co. (NYSE:WBS) to post $0.66 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Webster Financial’s earnings. The lowest EPS estimate is $0.41 and the highest is $0.78. Webster Financial reported earnings of $1.01 per share in the same quarter last year, which would suggest a negative year over year growth rate of 34.7%. The business is scheduled to announce its next earnings results on Tuesday, October 27th.

On average, analysts expect that Webster Financial will report full-year earnings of $2.27 per share for the current fiscal year, with EPS estimates ranging from $1.64 to $2.72. For the next fiscal year, analysts expect that the company will report earnings of $2.66 per share, with EPS estimates ranging from $2.32 to $3.15. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Webster Financial.

Webster Financial (NYSE:WBS) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.03. Webster Financial had a return on equity of 9.30% and a net margin of 20.01%. The business had revenue of $284.48 million for the quarter, compared to the consensus estimate of $298.68 million. During the same period in the previous year, the company posted $1.05 earnings per share.

Several research firms have commented on WBS. Wells Fargo & Company reissued a “buy” rating and issued a $29.00 target price (up from $27.00) on shares of Webster Financial in a report on Tuesday, July 7th. Royal Bank of Canada assumed coverage on Webster Financial in a report on Wednesday, June 24th. They issued an “outperform” rating and a $37.00 target price on the stock. Finally, Morgan Stanley decreased their price target on Webster Financial from $34.00 to $31.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Webster Financial currently has a consensus rating of “Hold” and an average price target of $36.11.

Webster Financial stock traded up $0.15 during mid-day trading on Friday, hitting $24.80. The company had a trading volume of 8,470 shares, compared to its average volume of 813,525. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average price is $28.04 and its two-hundred day moving average price is $26.76. Webster Financial has a 12 month low of $18.16 and a 12 month high of $54.04. The company has a market capitalization of $2.22 billion, a PE ratio of 8.44 and a beta of 1.64.

A number of institutional investors have recently bought and sold shares of WBS. Charles Schwab Investment Management Inc. increased its position in Webster Financial by 80.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,460,154 shares of the financial services provider’s stock valued at $41,776,000 after acquiring an additional 651,014 shares during the last quarter. Wasatch Advisors Inc. increased its position in Webster Financial by 23.8% during the second quarter. Wasatch Advisors Inc. now owns 2,881,018 shares of the financial services provider’s stock valued at $82,426,000 after acquiring an additional 553,760 shares during the last quarter. Macquarie Group Ltd. increased its position in Webster Financial by 13.1% during the second quarter. Macquarie Group Ltd. now owns 3,519,722 shares of the financial services provider’s stock valued at $100,699,000 after acquiring an additional 407,702 shares during the last quarter. Fisher Asset Management LLC increased its position in Webster Financial by 64.4% during the second quarter. Fisher Asset Management LLC now owns 904,818 shares of the financial services provider’s stock valued at $25,887,000 after acquiring an additional 354,525 shares during the last quarter. Finally, Bank of Montreal Can increased its position in Webster Financial by 6,322.2% during the second quarter. Bank of Montreal Can now owns 249,052 shares of the financial services provider’s stock valued at $6,069,000 after acquiring an additional 245,174 shares during the last quarter. Institutional investors own 86.72% of the company’s stock.

Webster Financial Company Profile

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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