Brokerages expect that Webster Financial Co. (NYSE:WBS – Get 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.
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.
- Get a free copy of the StockNews.com research report on Webster Financial (WBS)
- 3 Stocks Near 52-Week Highs That Still Look Cheap
- Is Cleveland-Cliffs Stock a Safe Bet After Earnings?
- MarketBeat Podcast: Profit From Diversifying Trading Strategies
- Hasbro Insider Bets Big On Stock Rebound
- The Coca-Cola Company Gets KO’d After Stunning Quarter
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Webster Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial and related companies with MarketBeat.com's FREE daily email newsletter.