Brokerages Anticipate Webster Financial Co. (NYSE:WBS) Will Post Earnings of $1.07 Per Share

Equities analysts predict that Webster Financial Co. (NYSE:WBS) will announce earnings per share (EPS) of $1.07 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Webster Financial’s earnings, with the highest EPS estimate coming in at $1.16 and the lowest estimate coming in at $1.03. Webster Financial posted earnings of $0.75 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 42.7%. The company is expected to report its next earnings report on Thursday, October 28th.

According to Zacks, analysts expect that Webster Financial will report full-year earnings of $4.49 per share for the current financial year, with EPS estimates ranging from $3.85 to $4.82. For the next fiscal year, analysts forecast that the firm will report earnings of $4.91 per share, with EPS estimates ranging from $4.80 to $5.05. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Webster Financial.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, July 22nd. The financial services provider reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.21. Webster Financial had a return on equity of 12.41% and a net margin of 26.65%. The firm had revenue of $293.55 million during the quarter, compared to analyst estimates of $296.12 million. During the same quarter in the previous year, the business earned $0.61 EPS. Webster Financial’s revenue for the quarter was up 3.2% compared to the same quarter last year.

WBS has been the subject of several research reports. Wedbush cut their price objective on Webster Financial from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, July 23rd. Royal Bank of Canada boosted their price objective on Webster Financial from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, July 23rd. Finally, Raymond James cut their price objective on Webster Financial from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, July 23rd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $56.09.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC lifted its stake in Webster Financial by 3.5% during the second quarter. Parametric Portfolio Associates LLC now owns 313,926 shares of the financial services provider’s stock worth $16,745,000 after purchasing an additional 10,544 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG lifted its stake in Webster Financial by 4.1% during the second quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 70,486 shares of the financial services provider’s stock worth $3,760,000 after purchasing an additional 2,768 shares in the last quarter. Morgan Stanley lifted its stake in Webster Financial by 10.9% during the second quarter. Morgan Stanley now owns 158,614 shares of the financial services provider’s stock worth $8,460,000 after purchasing an additional 15,527 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Webster Financial by 11.3% during the second quarter. Wells Fargo & Company MN now owns 317,366 shares of the financial services provider’s stock worth $16,928,000 after purchasing an additional 32,317 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in Webster Financial during the second quarter worth $9,942,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Shares of Webster Financial stock traded up $2.50 on Thursday, hitting $50.89. The company’s stock had a trading volume of 542,027 shares, compared to its average volume of 689,031. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.79 and a current ratio of 0.79. Webster Financial has a 1 year low of $23.67 and a 1 year high of $63.81. The firm has a fifty day moving average price of $49.10 and a 200-day moving average price of $53.34. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 14.25 and a beta of 1.55.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 17th. Investors of record on Tuesday, August 3rd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Monday, August 2nd. Webster Financial’s dividend payout ratio is presently 57.55%.

Webster Financial Company Profile

Webster Financial Corp., is holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Community Banking. The Commercial Banking segment includes commercial banking and private banking.

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

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