Q1 2023 EPS Estimates for Webster Financial Co. Decreased by Analyst (NYSE:WBS)

Posted by Defense World Staff on Apr 13th, 2023

Webster Financial Co. (NYSE:WBS – Get Rating) – Equities research analysts at Jefferies Financial Group lowered their Q1 2023 earnings per share estimates for Webster Financial in a report released on Tuesday, April 11th. Jefferies Financial Group analyst C. Haire now anticipates that the financial services provider will post earnings per share of $1.46 for the quarter, down from their prior estimate of $1.55. The consensus estimate for Webster Financial’s current full-year earnings is $6.50 per share.

Webster Financial (NYSE:WBS – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The financial services provider reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.06). Webster Financial had a return on equity of 12.42% and a net margin of 23.64%. The company had revenue of $704.60 million during the quarter, compared to the consensus estimate of $708.52 million. During the same quarter in the previous year, the business posted $1.31 EPS. The firm’s revenue for the quarter was up 122.3% on a year-over-year basis.

WBS has been the topic of a number of other research reports. Wells Fargo & Company decreased their target price on Webster Financial from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 5th. StockNews.com cut Webster Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 30th. JPMorgan Chase & Co. decreased their target price on Webster Financial from $54.00 to $40.00 in a research report on Thursday, April 6th. Raymond James decreased their target price on Webster Financial from $60.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, April 6th. Finally, Wedbush lifted their target price on Webster Financial from $53.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, January 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.20.

Webster Financial Stock Down 1.1 %

Shares of NYSE WBS opened at $37.03 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.91 and a current ratio of 0.91. Webster Financial has a 52 week low of $36.03 and a 52 week high of $56.46. The stock has a market capitalization of $6.44 billion, a P/E ratio of 10.43 and a beta of 1.25. The stock’s fifty day moving average is $46.36 and its 200 day moving average is $48.30.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 17th. Shareholders of record on Monday, February 6th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Friday, February 3rd. Webster Financial’s payout ratio is 45.07%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hudson Valley Investment Advisors Inc. ADV increased its stake in Webster Financial by 97.1% in the 1st quarter. Hudson Valley Investment Advisors Inc. ADV now owns 127,082 shares of the financial services provider’s stock worth $5,520,000 after purchasing an additional 62,609 shares during the period. Neo Ivy Capital Management purchased a new position in Webster Financial in the 4th quarter worth approximately $51,000. Voya Investment Management LLC grew its position in shares of Webster Financial by 29.5% in the 4th quarter. Voya Investment Management LLC now owns 29,122 shares of the financial services provider’s stock worth $1,379,000 after buying an additional 6,639 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Webster Financial by 1.2% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 72,035 shares of the financial services provider’s stock worth $3,410,000 after buying an additional 822 shares during the last quarter. Finally, Point72 Middle East FZE bought a new stake in shares of Webster Financial in the 4th quarter worth approximately $1,035,000. Institutional investors own 85.86% of the company’s stock.

Webster Financial Company Profile

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Webster Financial Corp. is a 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 Retail Banking. The Commercial Banking segment includes commercial banking and private banking.