Wall Street analysts forecast that Webster Financial Co. (NYSE:WBS) will report $0.79 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Webster Financial’s earnings, with the lowest EPS estimate coming in at $0.75 and the highest estimate coming in at $0.80. Webster Financial reported earnings per share of $0.62 in the same quarter last year, which indicates a positive year over year growth rate of 27.4%. The business is scheduled to issue its next quarterly earnings results on Friday, April 20th.
According to Zacks, analysts expect that Webster Financial will report full year earnings of $3.37 per share for the current financial year, with EPS estimates ranging from $3.28 to $3.54. For the next fiscal year, analysts expect that the company will report earnings of $3.68 per share, with EPS estimates ranging from $3.60 to $4.02. Zacks Investment Research’s 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 quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.06. Webster Financial had a return on equity of 9.91% and a net margin of 21.77%. The firm had revenue of $270.97 million during the quarter, compared to analyst estimates of $269.64 million. During the same period in the prior year, the company posted $0.60 earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year.
Several research firms have issued reports on WBS. JPMorgan Chase & Co. increased their price objective on Webster Financial from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Boenning Scattergood reiterated a “hold” rating on shares of Webster Financial in a research note on Wednesday, January 24th. Sandler O’Neill reiterated a “hold” rating and set a $60.00 price objective on shares of Webster Financial in a research note on Tuesday, January 23rd. Piper Jaffray Companies restated a “hold” rating and issued a $56.00 target price on shares of Webster Financial in a research note on Tuesday, January 23rd. Finally, Morgan Stanley raised their target price on Webster Financial from $54.00 to $56.00 and gave the company an “underweight” rating in a research note on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $59.82.
In related news, EVP Daniel Bley sold 2,917 shares of Webster Financial stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $58.27, for a total value of $169,973.59. Following the completion of the sale, the executive vice president now directly owns 19,804 shares in the company, valued at $1,153,979.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joel S. Becker sold 5,064 shares of Webster Financial stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $54.22, for a total value of $274,570.08. Following the completion of the sale, the director now owns 58,283 shares of the company’s stock, valued at $3,160,104.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,272 shares of company stock valued at $629,959. 2.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP acquired a new stake in Webster Financial in the third quarter worth about $202,000. Fox Run Management L.L.C. bought a new position in Webster Financial during the fourth quarter worth about $264,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Webster Financial by 39.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,788 shares of the financial services provider’s stock worth $269,000 after buying an additional 1,353 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in Webster Financial during the fourth quarter worth about $271,000. Finally, Quadrature Capital Ltd bought a new position in Webster Financial during the fourth quarter worth about $289,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.
Webster Financial (WBS) traded down $1.14 during trading on Tuesday, reaching $55.44. The company’s stock had a trading volume of 485,967 shares, compared to its average volume of 547,553. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. Webster Financial has a 1 year low of $44.04 and a 1 year high of $60.32. The firm has a market capitalization of $5,196.34, a price-to-earnings ratio of 20.84, a P/E/G ratio of 2.09 and a beta of 1.15.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, February 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.88%. Webster Financial’s dividend payout ratio (DPR) is presently 39.10%.
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About Webster Financial
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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