$1.18 Earnings Per Share Expected for Webster Financial Co. (NYSE:WBS) This Quarter

Wall Street analysts forecast that Webster Financial Co. (NYSE:WBSGet Rating) will report earnings of $1.18 per share for the current quarter, according to Zacks. Four analysts have issued estimates for Webster Financial’s earnings, with the highest EPS estimate coming in at $1.24 and the lowest estimate coming in at $1.12. Webster Financial posted earnings of $1.25 per share in the same quarter last year, which would suggest a negative year over year growth rate of 5.6%. The firm 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 $5.23 per share for the current year, with EPS estimates ranging from $5.03 to $5.47. For the next financial year, analysts expect that the firm will post earnings of $6.09 per share, with EPS estimates ranging from $5.70 to $6.50. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Webster Financial.

Webster Financial (NYSE:WBSGet Rating) last announced its earnings results on Thursday, January 20th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.21. Webster Financial had a net margin of 32.29% and a return on equity of 13.94%. The company had revenue of $316.90 million for the quarter, compared to analysts’ expectations of $306.87 million. During the same quarter in the previous year, the company posted $0.99 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis.

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Webster Financial in a research report on Friday, February 18th. They set a “neutral” rating on the stock. Raymond James raised shares of Webster Financial from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $65.00 to $73.00 in a research report on Friday, January 21st. Wells Fargo & Company lowered their price target on shares of Webster Financial from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, March 21st. StockNews.com started coverage on shares of Webster Financial in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Piper Sandler upgraded shares of Webster Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $58.00 to $72.00 in a report on Wednesday, February 2nd. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $65.14.

WBS traded down $0.19 on Friday, hitting $50.00. 2,251,477 shares of the company’s stock were exchanged, compared to its average volume of 1,283,974. Webster Financial has a fifty-two week low of $45.60 and a fifty-two week high of $65.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.75 and a current ratio of 0.75. The firm’s 50-day simple moving average is $57.85. The company has a market capitalization of $8.98 billion, a PE ratio of 11.34 and a beta of 1.29.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 11th. Investors of record on Friday, January 28th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, January 27th. This represents a $1.60 annualized dividend and a yield of 3.20%. Webster Financial’s dividend payout ratio (DPR) is currently 36.28%.

In other Webster Financial news, insider Daniel Bley sold 4,000 shares of the business’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $60.18, for a total transaction of $240,720.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas X. Geisel sold 7,500 shares of the business’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. 1.85% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Credit Suisse AG grew its position in shares of Webster Financial by 4.2% during the third quarter. Credit Suisse AG now owns 105,236 shares of the financial services provider’s stock worth $5,731,000 after buying an additional 4,277 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Webster Financial by 16.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 55,639 shares of the financial services provider’s stock valued at $3,030,000 after purchasing an additional 7,797 shares in the last quarter. rhino investment partners Inc acquired a new position in Webster Financial in the third quarter valued at approximately $11,727,000. New York State Teachers Retirement System boosted its holdings in Webster Financial by 1.3% in the fourth quarter. New York State Teachers Retirement System now owns 147,346 shares of the financial services provider’s stock valued at $8,228,000 after purchasing an additional 1,845 shares in the last quarter. Finally, Creative Planning boosted its holdings in Webster Financial by 7.7% in the third quarter. Creative Planning now owns 6,114 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 435 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Webster Financial Company Profile (Get Rating)

Webster Financial Corp., is holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Retail Banking. The Commercial Banking segment includes commercial banking and private banking.

Further Reading

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

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