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 posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.01). Webster Financial had a net margin of 27.14% and a return on equity of 13.49%. The business had revenue of $310.50 million for the quarter, compared to analysts’ expectations of $314.65 million. During the same quarter in the previous year, the firm earned $0.98 EPS. Webster Financial’s revenue was up 2.6% compared to the same quarter last year.
A number of research firms recently issued reports on WBS. Compass Point cut Webster Financial from a “buy” rating to a “neutral” rating in a report on Tuesday, October 22nd. Sandler O’Neill cut Webster Financial from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Wedbush restated a “buy” rating and set a $53.00 price objective (up previously from $51.00) on shares of Webster Financial in a report on Monday, November 25th. Zacks Investment Research cut Webster Financial from a “hold” rating to a “sell” rating and set a $47.00 price objective for the company. in a report on Saturday, October 19th. Finally, Morgan Stanley decreased their target price on Webster Financial from $52.00 to $50.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $52.43.
WBS traded up $0.10 during trading hours on Wednesday, reaching $48.79. 589,100 shares of the company’s stock traded hands, compared to its average volume of 578,314. The firm has a 50-day moving average price of $46.83 and a 200 day moving average price of $46.99. Webster Financial has a 52-week low of $42.29 and a 52-week high of $60.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $4.48 billion, a PE ratio of 13.05, a PEG ratio of 1.49 and a beta of 1.30.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Friday, November 8th. Webster Financial’s dividend payout ratio (DPR) is presently 42.78%.
In other Webster Financial news, Director Mark Pettie sold 4,000 shares of Webster Financial stock in a transaction on Monday, November 4th. The stock was sold at an average price of $46.32, for a total transaction of $185,280.00. Following the completion of the sale, the director now directly owns 35,272 shares of the company’s stock, valued at approximately $1,633,799.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Joseph Crawford sold 1,000 shares of Webster Financial stock in a transaction on Monday, October 28th. The shares were sold at an average price of $45.68, for a total value of $45,680.00. Following the sale, the director now directly owns 14,099 shares of the company’s stock, valued at $644,042.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,000 shares of company stock valued at $321,640. 1.53% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. bought a new position in shares of Webster Financial in the 3rd quarter worth $48,000. Quest Capital Management Inc. ADV bought a new position in shares of Webster Financial in the 3rd quarter worth $110,000. Advisory Services Network LLC raised its position in shares of Webster Financial by 9.6% in the 2nd quarter. Advisory Services Network LLC now owns 3,275 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 287 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Webster Financial by 21.9% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,747 shares of the financial services provider’s stock worth $176,000 after acquiring an additional 674 shares in the last quarter. Finally, Menta Capital LLC bought a new position in shares of Webster Financial in the 2nd quarter worth $202,000. 90.61% of the stock is owned by institutional investors and hedge funds.
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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