Webster Financial Co. (WBS) Expected to Announce Quarterly Sales of $299.30 Million

Equities research analysts expect Webster Financial Co. (NYSE:WBS) to post $299.30 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Webster Financial’s earnings, with the highest sales estimate coming in at $300.96 million and the lowest estimate coming in at $297.10 million. Webster Financial reported sales of $266.75 million during the same quarter last year, which indicates a positive year over year growth rate of 12.2%. The company is scheduled to report its next earnings results before the market opens on Thursday, October 18th.

On average, analysts expect that Webster Financial will report full-year sales of $1.18 billion for the current year, with estimates ranging from $1.17 billion to $1.19 billion. For the next financial year, analysts forecast that the business will report sales of $1.28 billion, with estimates ranging from $1.25 billion to $1.31 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Webster Financial.

Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, July 19th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.05. Webster Financial had a net margin of 23.85% and a return on equity of 11.46%. The company had revenue of $293.40 million during the quarter, compared to analysts’ expectations of $291.53 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. Webster Financial’s quarterly revenue was up 11.8% on a year-over-year basis.

WBS has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Webster Financial from a “buy” rating to a “hold” rating in a research report on Friday, September 21st. Wedbush reaffirmed an “outperform” rating on shares of Webster Financial in a research report on Monday, July 16th. Barclays upped their price objective on shares of Webster Financial from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 11th. Wells Fargo & Co upped their price objective on shares of Webster Financial from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Tuesday, June 26th. Finally, Morgan Stanley reaffirmed a “sell” rating and set a $60.00 price objective (down previously from $62.00) on shares of Webster Financial in a research report on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $63.00.

WBS traded up $0.96 on Thursday, hitting $59.13. 624,800 shares of the stock were exchanged, compared to its average volume of 530,517. Webster Financial has a 12 month low of $51.68 and a 12 month high of $69.63. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 2.02 and a beta of 1.18.

In other news, EVP Charles L. Wilkins sold 3,000 shares of the stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $67.51, for a total value of $202,530.00. Following the completion of the transaction, the executive vice president now owns 18,579 shares of the company’s stock, valued at $1,254,268.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel Bley sold 1,469 shares of the stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $66.36, for a total transaction of $97,482.84. Following the completion of the transaction, the executive vice president now directly owns 19,329 shares of the company’s stock, valued at approximately $1,282,672.44. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of Webster Financial by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 2,238,910 shares of the financial services provider’s stock worth $142,619,000 after acquiring an additional 102,346 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Webster Financial by 46.1% in the second quarter. Wells Fargo & Company MN now owns 1,396,777 shares of the financial services provider’s stock worth $88,975,000 after acquiring an additional 440,873 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Webster Financial by 1.0% in the second quarter. Artisan Partners Limited Partnership now owns 1,262,960 shares of the financial services provider’s stock worth $80,451,000 after acquiring an additional 12,272 shares during the last quarter. Putnam Investments LLC lifted its holdings in shares of Webster Financial by 17.4% in the second quarter. Putnam Investments LLC now owns 1,116,161 shares of the financial services provider’s stock worth $71,099,000 after acquiring an additional 165,678 shares during the last quarter. Finally, Brown Advisory Inc. lifted its holdings in shares of Webster Financial by 1.0% in the second quarter. Brown Advisory Inc. now owns 974,827 shares of the financial services provider’s stock worth $62,098,000 after acquiring an additional 9,470 shares during the last quarter. 92.26% of the stock is owned by hedge funds and other institutional investors.

About Webster Financial

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. It operates through four segments: Commercial Banking, Community Banking, HSA Bank, and Private Banking.

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