Zacks: Analysts Anticipate Webster Financial Co. (NYSE:WBS) to Announce $1.01 EPS

Brokerages expect Webster Financial Co. (NYSE:WBS) to post earnings per share of $1.01 for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Webster Financial’s earnings. The highest EPS estimate is $1.02 and the lowest is $0.99. Webster Financial posted earnings per share of $0.98 during the same quarter last year, which suggests a positive year-over-year growth rate of 3.1%. The company is expected to announce its next earnings results on Thursday, October 17th.

According to Zacks, analysts expect that Webster Financial will report full-year earnings of $4.11 per share for the current fiscal year, with EPS estimates ranging from $4.05 to $4.15. For the next year, analysts anticipate that the firm will post earnings of $4.06 per share, with EPS estimates ranging from $3.90 to $4.15. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Webster Financial.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. Webster Financial had a return on equity of 13.80% and a net margin of 27.99%. The firm had revenue of $317.60 million for the quarter, compared to the consensus estimate of $312.36 million. During the same quarter in the prior year, the company posted $0.86 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis.

WBS has been the topic of a number of research reports. Morgan Stanley upgraded Webster Financial from an “underweight” rating to an “equal weight” rating and set a $51.00 price objective on the stock in a report on Monday, July 1st. Compass Point initiated coverage on Webster Financial in a report on Tuesday, May 7th. They issued a “buy” rating on the stock. Zacks Investment Research upgraded Webster Financial from a “sell” rating to a “hold” rating and set a $49.00 price objective on the stock in a report on Friday, July 5th. Boenning Scattergood restated a “neutral” rating on shares of Webster Financial in a report on Friday, July 19th. Finally, Barclays dropped their price objective on Webster Financial from $68.00 to $62.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Webster Financial has a consensus rating of “Hold” and an average target price of $56.25.

In other Webster Financial news, Director John Joseph Crawford sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $49.49, for a total transaction of $49,490.00. Following the transaction, the director now owns 16,099 shares in the company, valued at $796,739.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Daniel Bley sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $51.45, for a total value of $102,900.00. Following the transaction, the executive vice president now owns 18,654 shares in the company, valued at approximately $959,748.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,000 shares of company stock worth $203,670. Corporate insiders own 1.53% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Hilton Capital Management LLC bought a new stake in shares of Webster Financial in the first quarter valued at approximately $54,000. Harvest Group Wealth Management LLC bought a new stake in shares of Webster Financial in the first quarter valued at approximately $58,000. Advisory Services Network LLC boosted its position in shares of Webster Financial by 197.8% in the fourth quarter. Advisory Services Network LLC now owns 2,713 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 1,802 shares during the period. Cetera Advisor Networks LLC bought a new stake in shares of Webster Financial in the first quarter valued at approximately $200,000. Finally, YHB Investment Advisors Inc. boosted its position in shares of Webster Financial by 13.4% in the first quarter. YHB Investment Advisors Inc. now owns 4,819 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 571 shares during the period. Institutional investors own 90.24% of the company’s stock.

NYSE:WBS traded down $0.94 during mid-day trading on Friday, reaching $48.35. The stock had a trading volume of 828,288 shares, compared to its average volume of 779,001. The company has a 50 day moving average of $47.80. Webster Financial has a fifty-two week low of $43.95 and a fifty-two week high of $68.62. The company has a market cap of $4.58 billion, a PE ratio of 12.93, a P/E/G ratio of 1.51 and a beta of 1.25. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.83 and a current ratio of 0.83.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, August 2nd. This represents a $1.60 annualized dividend and a yield of 3.31%. Webster Financial’s dividend payout ratio (DPR) is presently 42.78%.

Webster Financial Company Profile

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

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

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