Brokerages Expect Webster Financial Co. (NYSE:WBS) Will Announce Quarterly Sales of $485.86 Million

Brokerages expect that Webster Financial Co. (NYSE:WBSGet Rating) will announce sales of $485.86 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided 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 during the same quarter last year, which would indicate a positive year-over-year growth rate of 61.7%. The business is scheduled to report its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Webster Financial will report full-year sales of $2.32 billion for the current financial year, with estimates ranging from $2.26 billion to $2.36 billion. For the next financial year, analysts anticipate that the company will post sales of $2.65 billion, with estimates ranging from $2.53 billion to $2.73 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Webster Financial.

A number of research analysts have recently commented on WBS shares. StockNews.com began coverage on Webster Financial in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Wells Fargo & Company lowered their target price on Webster Financial from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, March 21st. Zacks Investment Research downgraded Webster Financial from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a research note on Tuesday, April 12th. JPMorgan Chase & Co. initiated coverage on Webster Financial in a research note on Friday, February 18th. They issued a “neutral” rating on the stock. Finally, Raymond James upgraded 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 research note on Friday, January 21st. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Webster Financial presently has a consensus rating of “Buy” and an average target price of $64.33.

In other Webster Financial news, Director William L. Atwell acquired 2,500 shares of the stock in a transaction dated Monday, March 7th. The stock was acquired at an average price of $53.43 per share, with a total value of $133,575.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas X. Geisel sold 7,500 shares of Webster Financial stock in a transaction 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. Company insiders own 1.85% of the company’s stock.

Several large investors have recently made changes to their positions in WBS. Credit Suisse AG grew its position in Webster Financial by 4.2% during the third quarter. Credit Suisse AG now owns 105,236 shares of the financial services provider’s stock valued at $5,731,000 after acquiring an additional 4,277 shares during the period. rhino investment partners Inc purchased a new stake in Webster Financial during the third quarter valued at about $11,727,000. New York State Teachers Retirement System grew its position in Webster Financial by 1.3% during 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 acquiring an additional 1,845 shares during the period. Creative Planning grew its position in Webster Financial by 7.7% during the third quarter. Creative Planning now owns 6,114 shares of the financial services provider’s stock valued at $333,000 after acquiring an additional 435 shares during the period. Finally, Man Group plc grew its position in Webster Financial by 0.4% during the third quarter. Man Group plc now owns 166,174 shares of the financial services provider’s stock valued at $9,050,000 after acquiring an additional 627 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

WBS opened at $50.08 on Tuesday. Webster Financial has a one year low of $45.60 and a one year high of $65.00. The stock has a market cap of $8.99 billion, a P/E ratio of 11.36 and a beta of 1.29. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.17. The firm has a 50-day simple moving average of $55.63.

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

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