Zacks: Analysts Expect Webster Financial Co. (WBS) to Post $0.97 Earnings Per Share

Equities research analysts expect Webster Financial Co. (NYSE:WBS) to announce earnings per share (EPS) of $0.97 for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Webster Financial’s earnings, with the highest EPS estimate coming in at $1.00 and the lowest estimate coming in at $0.95. Webster Financial posted earnings per share of $0.65 during the same quarter last year, which indicates a positive year over year growth rate of 49.2%. The firm is scheduled to issue its next earnings results before the market opens on Thursday, January 24th.

According to Zacks, analysts expect that Webster Financial will report full-year earnings of $3.73 per share for the current financial year, with EPS estimates ranging from $3.71 to $3.77. For the next fiscal year, analysts expect that the firm will report earnings of $4.10 per share, with EPS estimates ranging from $4.00 to $4.29. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Webster Financial.

Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, October 18th. The financial services provider reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.12. The business had revenue of $302.66 million during the quarter, compared to analyst estimates of $299.30 million. Webster Financial had a return on equity of 12.36% and a net margin of 25.77%. During the same quarter in the previous year, the firm earned $0.67 EPS.

A number of research analysts have weighed in on the company. Barclays lifted their target price on Webster Financial from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, October 19th. Morgan Stanley reaffirmed a “sell” rating and set a $60.00 target price (down previously from $62.00) on shares of Webster Financial in a report on Tuesday, September 18th. Zacks Investment Research lowered Webster Financial from a “buy” rating to a “hold” rating in a report on Friday, September 21st. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial in a report on Friday, October 19th. Finally, Sandler O’Neill raised Webster Financial from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Monday, December 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.89.

WBS stock opened at $50.69 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.62. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 1.55 and a beta of 1.18. Webster Financial has a twelve month low of $45.38 and a twelve month high of $69.63.

In other news, Director John Joseph Crawford sold 2,000 shares of Webster Financial stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $60.03, for a total transaction of $120,060.00. Following the completion of the sale, the director now owns 8,792 shares in the company, valued at approximately $527,783.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.96% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of WBS. Capital International Investors bought a new stake in shares of Webster Financial during the 3rd quarter valued at about $52,415,000. Vanguard Group Inc. boosted its position in shares of Webster Financial by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 8,461,192 shares of the financial services provider’s stock valued at $498,873,000 after acquiring an additional 270,130 shares during the last quarter. Vanguard Group Inc boosted its position in shares of Webster Financial by 3.3% during the 3rd quarter. Vanguard Group Inc now owns 8,461,192 shares of the financial services provider’s stock valued at $498,873,000 after acquiring an additional 270,130 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of Webster Financial by 14.1% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,162,598 shares of the financial services provider’s stock valued at $127,507,000 after acquiring an additional 267,332 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Webster Financial by 121.8% in the 2nd quarter. Millennium Management LLC now owns 402,488 shares of the financial services provider’s stock worth $25,638,000 after buying an additional 221,008 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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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