$1.24 EPS Expected for Webster Financial Co. (NYSE:WBS) This Quarter

Wall Street analysts expect that Webster Financial Co. (NYSE:WBSGet Rating) will post earnings per share of $1.24 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Webster Financial’s earnings, with the highest EPS estimate coming in at $1.31 and the lowest estimate coming in at $1.19. Webster Financial posted earnings of $1.21 per share in the same quarter last year, which suggests a positive year over year growth rate of 2.5%. The company is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Webster Financial will report full year earnings of $5.25 per share for the current financial year, with EPS estimates ranging from $5.14 to $5.45. For the next financial year, analysts anticipate that the company will post earnings of $6.23 per share, with EPS estimates ranging from $5.85 to $6.50. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Webster Financial.

Webster Financial (NYSE:WBSGet Rating) last released its quarterly earnings data on Thursday, April 28th. The financial services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. The company had revenue of $498.30 million for the quarter, compared to analyst estimates of $479.64 million. Webster Financial had a return on equity of 11.74% and a net margin of 19.35%. The firm’s revenue for the quarter was up 65.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 earnings per share.

A number of equities analysts have weighed in on the company. Wells Fargo & Company lowered their price objective on Webster Financial from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, March 21st. JPMorgan Chase & Co. started coverage on Webster Financial in a report on Friday, February 18th. They issued a “neutral” rating on the stock. Raymond James raised Webster Financial from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $65.00 to $73.00 in a research report on Friday, January 21st. Piper Sandler raised Webster Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $58.00 to $72.00 in a research report on Wednesday, February 2nd. Finally, TheStreet cut Webster Financial from a “b” rating to a “c+” rating in a report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Webster Financial currently has an average rating of “Buy” and an average price target of $64.33.

In other Webster Financial news, Director Maureen Mitchell purchased 520 shares of the business’s stock in a transaction on Friday, May 6th. The stock was purchased at an average price of $48.51 per share, for a total transaction of $25,225.20. Following the completion of the purchase, the director now directly owns 7,872 shares in the company, valued at $381,870.72. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas X. Geisel sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $57.43, for a total transaction of $430,725.00. The disclosure for this sale can be found here. Corporate insiders own 1.85% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. CI Investments Inc. grew its holdings in Webster Financial by 9.1% during the 3rd quarter. CI Investments Inc. now owns 2,219 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 185 shares during the period. Louisiana State Employees Retirement System grew its holdings in Webster Financial by 0.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 23,300 shares of the financial services provider’s stock worth $1,301,000 after acquiring an additional 200 shares during the period. State of Michigan Retirement System grew its holdings in Webster Financial by 0.9% during the 4th quarter. State of Michigan Retirement System now owns 22,910 shares of the financial services provider’s stock worth $1,279,000 after acquiring an additional 200 shares during the period. Mission Wealth Management LP grew its holdings in Webster Financial by 2.8% during the 4th quarter. Mission Wealth Management LP now owns 7,424 shares of the financial services provider’s stock worth $415,000 after acquiring an additional 203 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Webster Financial by 0.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 23,886 shares of the financial services provider’s stock valued at $1,334,000 after buying an additional 206 shares during the period. Hedge funds and other institutional investors own 45.99% of the company’s stock.

NYSE WBS traded up $0.79 on Friday, reaching $46.88. 756,637 shares of the company were exchanged, compared to its average volume of 1,069,107. The business’s fifty day moving average price is $52.89 and its 200 day moving average price is $56.33. The stock has a market capitalization of $8.42 billion, a P/E ratio of 15.12 and a beta of 1.28. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.14. Webster Financial has a fifty-two week low of $44.96 and a fifty-two week high of $65.00.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Thursday, May 12th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Wednesday, May 11th. Webster Financial’s dividend payout ratio (DPR) is presently 51.61%.

About Webster Financial (Get Rating)

Webster Financial Corporation operates as the bank 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 Retail Banking.

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

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