$486.79 Million in Sales Expected for Webster Financial Co. (NYSE:WBS) This Quarter

Wall Street brokerages expect Webster Financial Co. (NYSE:WBSGet Rating) to announce $486.79 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Webster Financial’s earnings. The lowest sales estimate is $472.85 million and the highest is $502.00 million. Webster Financial posted sales of $300.52 million in the same quarter last year, which suggests a positive year-over-year growth rate of 62%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Webster Financial will report full-year sales of $2.31 billion for the current fiscal year, with estimates ranging from $2.26 billion to $2.36 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.63 billion, with estimates ranging from $2.53 billion to $2.70 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Webster Financial.

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

WBS has been the topic of several research analyst reports. StockNews.com initiated coverage on Webster Financial in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Wells Fargo & Company reduced their price target on 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. JPMorgan Chase & Co. assumed coverage on Webster Financial in a research report on Friday, February 18th. They issued a “neutral” rating on the stock. Piper Sandler upgraded Webster Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $58.00 to $72.00 in a report on Wednesday, February 2nd. Finally, Raymond James upgraded Webster Financial from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $65.00 to $73.00 in a research note on Friday, January 21st. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $65.14.

In other Webster Financial news, Director William L. Atwell bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 7th. The stock was purchased at an average price of $53.43 per share, for a total transaction of $133,575.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas X. Geisel sold 7,500 shares of the stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $57.43, for a total value of $430,725.00. The disclosure for this sale can be found here. Corporate insiders own 1.85% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. CI Investments Inc. increased its stake in shares of Webster Financial by 9.1% in the 3rd quarter. CI Investments Inc. now owns 2,219 shares of the financial services provider’s stock valued at $121,000 after buying an additional 185 shares during the period. Cardinal Capital Management increased its stake in shares of Webster Financial by 0.5% in the 3rd quarter. Cardinal Capital Management now owns 35,072 shares of the financial services provider’s stock valued at $1,910,000 after buying an additional 187 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Webster Financial by 0.9% in 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 purchasing an additional 200 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Webster Financial by 0.9% in 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 purchasing an additional 200 shares during the last quarter. Finally, Mission Wealth Management LP boosted its position in shares of Webster Financial by 2.8% in the 4th quarter. Mission Wealth Management LP now owns 7,424 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 203 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Webster Financial stock traded down $0.19 during mid-day trading on Tuesday, hitting $50.00. 2,251,477 shares of the company were exchanged, compared to its average volume of 1,283,974. Webster Financial has a 12-month low of $45.60 and a 12-month high of $65.00. The firm has a 50 day moving average price of $57.85. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $8.98 billion, a P/E ratio of 11.34 and a beta of 1.29.

The company also recently announced a quarterly dividend, which was paid on Friday, February 11th. Shareholders of record on Friday, January 28th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.20%. The ex-dividend date was Thursday, January 27th. Webster Financial’s payout ratio is currently 36.28%.

About Webster Financial (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.

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

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