Zacks: Analysts Anticipate Webster Financial Co. (NYSE:WBS) Will Announce Earnings of $1.24 Per Share

Brokerages expect Webster Financial Co. (NYSE:WBS – Get Rating) to report earnings of $1.24 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Webster Financial’s earnings, with estimates ranging from $1.19 to $1.31. Webster Financial reported earnings per share of $1.21 during the same quarter last year, which would indicate a positive year over year growth rate of 2.5%. The firm is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Webster Financial will report full year earnings of $5.25 per share for the current fiscal year, with EPS estimates ranging from $5.14 to $5.45. For the next fiscal year, analysts anticipate that the business will report earnings of $6.23 per share, with EPS estimates ranging from $5.85 to $6.50. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Webster Financial.

Webster Financial (NYSE:WBS – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The financial services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.16 by $0.08. The business had revenue of $498.30 million for the quarter, compared to analysts’ expectations of $479.64 million. Webster Financial had a net margin of 19.35% and a return on equity of 11.74%. The business’s quarterly revenue was up 65.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 EPS.

A number of analysts have recently weighed in on the stock. TheStreet downgraded shares of Webster Financial from a “b” rating to a “c+” rating in a report on Thursday, April 28th. Piper Sandler upgraded shares of Webster Financial from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $58.00 to $72.00 in a report on Wednesday, February 2nd. JPMorgan Chase & Co. assumed coverage on shares of Webster Financial in a report on Friday, February 18th. They issued a “neutral” rating on the stock. Wells Fargo & Company reduced their target price on shares of Webster Financial from $62.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, March 21st. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Webster Financial currently has an average rating of “Buy” and an average price target of $64.33.

Shares of WBS stock opened at $46.33 on Friday. The stock has a market cap of $8.32 billion, a P/E ratio of 14.92 and a beta of 1.28. Webster Financial has a 52 week low of $44.96 and a 52 week high of $65.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $52.89 and its two-hundred day simple moving average is $56.33.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Thursday, May 12th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Wednesday, May 11th. Webster Financial’s payout ratio is 51.61%.

In other Webster Financial news, insider Daniel Bley sold 4,000 shares of Webster Financial 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William L. Atwell acquired 2,500 shares of the company’s stock in a transaction that occurred on 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 disclosure for this purchase can be found here. Company insiders own 1.85% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its position in Webster Financial by 127.4% in the 1st quarter. California State Teachers Retirement System now owns 286,646 shares of the financial services provider’s stock valued at $16,087,000 after purchasing an additional 160,590 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Webster Financial by 219.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,642 shares of the financial services provider’s stock worth $63,844,000 after acquiring an additional 781,437 shares during the period. Journey Strategic Wealth LLC purchased a new position in shares of Webster Financial during the 1st quarter worth about $391,000. Captrust Financial Advisors grew its position in Webster Financial by 6.9% in the first quarter. Captrust Financial Advisors now owns 614,830 shares of the financial services provider’s stock valued at $34,504,000 after acquiring an additional 39,905 shares in the last quarter. Finally, Brinker Capital Investments LLC grew its position in shares of Webster Financial by 126.4% during the first quarter. Brinker Capital Investments LLC now owns 16,070 shares of the financial services provider’s stock worth $902,000 after buying an additional 8,973 shares in the last quarter. Hedge funds and other institutional investors own 45.99% of the company’s stock.

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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