Webster Financial (WBS) to Release Earnings on Thursday

Webster Financial (NYSE:WBS – Get Rating) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, April 28th. Analysts expect Webster Financial to post earnings of $1.16 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Webster Financial (NYSE:WBS – Get Rating) last issued its earnings results on Thursday, January 20th. The financial services provider reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.21. The business had revenue of $316.90 million for the quarter, compared to the consensus estimate of $306.87 million. Webster Financial had a net margin of 32.29% and a return on equity of 13.94%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 earnings per share. On average, analysts expect Webster Financial to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Shares of NYSE:WBS opened at $52.95 on Thursday. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 12.01 and a beta of 1.29. The firm’s 50-day simple moving average is $56.28 and its 200-day simple moving average is $57.17. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. Webster Financial has a fifty-two week low of $45.60 and a fifty-two week high of $65.00.

Several brokerages have recently weighed in on WBS. Zacks Investment Research downgraded shares of Webster Financial from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a report on Tuesday, April 12th. JPMorgan Chase & Co. began coverage on shares of Webster Financial in a report on Friday, February 18th. They issued a “neutral” rating on the stock. Raymond James raised shares of Webster Financial from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $65.00 to $73.00 in a report on Friday, January 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 raised their price objective for the company from $58.00 to $72.00 in a research note on Wednesday, February 2nd. Four research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $63.71.

In other Webster Financial news, Director William L. Atwell bought 2,500 shares of the business’s stock in a transaction on Monday, March 7th. The stock was bought at an average price of $53.43 per share, for a total transaction of $133,575.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Bley sold 4,000 shares of Webster Financial stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $60.18, for a total transaction of $240,720.00. The disclosure for this sale can be found here. 1.85% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Webster Financial by 2.7% in the fourth quarter. BlackRock Inc. now owns 8,123,209 shares of the financial services provider’s stock valued at $453,599,000 after buying an additional 213,872 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Webster Financial by 2.1% in the fourth quarter. Parametric Portfolio Associates LLC now owns 329,901 shares of the financial services provider’s stock valued at $18,422,000 after buying an additional 6,931 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Webster Financial by 15.4% in the fourth quarter. Allianz Asset Management GmbH now owns 263,112 shares of the financial services provider’s stock valued at $14,692,000 after buying an additional 35,112 shares during the last quarter. Sei Investments Co. raised its position in shares of Webster Financial by 8.6% in the fourth quarter. Sei Investments Co. now owns 160,181 shares of the financial services provider’s stock valued at $8,944,000 after buying an additional 12,733 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Webster Financial by 4.5% in the fourth quarter. Legal & General Group Plc now owns 154,804 shares of the financial services provider’s stock valued at $8,645,000 after buying an additional 6,732 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Webster Financial Company Profile (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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