Webster Financial (NYSE:WBS – Get Free Report) is set to release its earnings data before the market opens on Thursday, July 20th. Analysts expect Webster Financial to post earnings of $1.49 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.
Webster Financial (NYSE:WBS – Get Free Report) last released its quarterly earnings data on Thursday, April 20th. The financial services provider reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). The business had revenue of $666.00 million during the quarter, compared to analyst estimates of $708.96 million. Webster Financial had a net margin of 28.33% and a return on equity of 13.39%. The firm’s revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 EPS. On average, analysts expect Webster Financial to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.
Webster Financial Stock Up 2.3 %
WBS stock opened at $40.76 on Thursday. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 8.27 and a beta of 1.24. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.20. Webster Financial has a 12 month low of $31.03 and a 12 month high of $56.46. The firm has a 50-day moving average of $36.94 and a two-hundred day moving average of $42.48.
Webster Financial Announces Dividend
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Raymond James cut their price target on shares of Webster Financial from $56.00 to $50.00 in a report on Monday, April 24th. StockNews.com began coverage on shares of Webster Financial in a report on Thursday, May 18th. They issued a “sell” rating for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Webster Financial in a report on Thursday, May 25th. They issued a “buy” rating and a $47.00 target price for the company. Wells Fargo & Company dropped their target price on shares of Webster Financial from $55.00 to $50.00 and set an “equal weight” rating for the company in a report on Friday, April 21st. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Webster Financial from $75.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, April 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.27.
Insider Transactions at Webster Financial
In other news, COO Luis Massiani sold 16,000 shares of Webster Financial stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $37.27, for a total transaction of $596,320.00. Following the completion of the sale, the chief operating officer now directly owns 115,153 shares of the company’s stock, valued at approximately $4,291,752.31. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.88% of the company’s stock.
Institutional Investors Weigh In On Webster Financial
Several institutional investors have recently modified their holdings of WBS. Meiji Yasuda Asset Management Co Ltd. lifted its position in Webster Financial by 4.1% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,110 shares of the financial services provider’s stock valued at $242,000 after acquiring an additional 200 shares during the last quarter. Blair William & Co. IL increased its stake in Webster Financial by 7.6% in the first quarter. Blair William & Co. IL now owns 4,298 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 303 shares during the period. Covestor Ltd increased its stake in Webster Financial by 113.9% in the first quarter. Covestor Ltd now owns 1,074 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 572 shares during the period. Thrivent Financial for Lutherans increased its stake in Webster Financial by 1.4% in the first quarter. Thrivent Financial for Lutherans now owns 47,021 shares of the financial services provider’s stock valued at $1,854,000 after purchasing an additional 672 shares during the period. Finally, Harbour Investments Inc. increased its stake in Webster Financial by 305.8% in the first quarter. Harbour Investments Inc. now owns 905 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 682 shares during the period. 85.34% of the stock is owned by hedge funds and other institutional investors.
Webster Financial Company Profile
Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment provides commercial real estate and equipment financing, business banking, asset-based lending, and commercial services; public sector finance; mortgage warehouse financing; treasury management services; credit, deposit, and cash flow management services; and wealth management solutions to business owners and operators, including trust, asset management, financial planning, insurance, retirement, and investment products, as well as derivative, treasury, accounts payable, accounts receivable, and trade products and services.
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