Webster Financial Corp. Forecasted to Post Q1 2017 Earnings of $0.52 Per Share (WBS)
Webster Financial Corp. (NYSE:WBS) – Analysts at Jefferies Group issued their Q1 2017 earnings per share estimates for shares of Webster Financial Corp. in a note issued to investors on Tuesday. Jefferies Group analyst C. Haire anticipates that the firm will post earnings per share of $0.52 for the quarter. Jefferies Group currently has a “Hold” rating and a $36.00 price objective on the stock. Jefferies Group also issued estimates for Webster Financial Corp.’s Q2 2017 earnings at $0.56 EPS, Q3 2017 earnings at $0.58 EPS and Q4 2017 earnings at $0.60 EPS.
Other research analysts have also recently issued research reports about the company. Deutsche Bank AG boosted their price target on Webster Financial Corp. from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. restated a “buy” rating and issued a $39.00 price target on shares of Webster Financial Corp. in a research note on Friday, June 17th. Barclays PLC cut Webster Financial Corp. from an “overweight” rating to an “equal weight” rating and set a $38.00 price target for the company. in a research note on Friday, August 5th. Zacks Investment Research upgraded Webster Financial Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th. Finally, FBR & Co restated a “hold” rating and issued a $36.00 price target on shares of Webster Financial Corp. in a research note on Friday, June 17th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Webster Financial Corp. presently has an average rating of “Hold” and an average target price of $38.33.
Shares of Webster Financial Corp. (NYSE:WBS) opened at 37.31 on Thursday. The stock has a market cap of $3.42 billion, a PE ratio of 17.68 and a beta of 1.46. Webster Financial Corp. has a 12-month low of $30.09 and a 12-month high of $40.72. The firm has a 50 day moving average price of $38.11 and a 200 day moving average price of $36.71.
Webster Financial Corp. (NYSE:WBS) last released its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. Webster Financial Corp. had a return on equity of 8.84% and a net margin of 19.44%. The firm had revenue of $242 million for the quarter, compared to analysts’ expectations of $177.92 million. During the same quarter last year, the firm posted $0.55 EPS. The company’s revenue was up 8.5% compared to the same quarter last year.
In other Webster Financial Corp. news, Director John Joseph Crawford sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $36.15, for a total transaction of $108,450.00. Following the completion of the sale, the director now owns 21,705 shares of the company’s stock, valued at $784,635.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Bley sold 5,153 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $36.03, for a total value of $185,662.59. Following the sale, the executive vice president now directly owns 35,415 shares of the company’s stock, valued at approximately $1,276,002.45. The disclosure for this sale can be found here. Company insiders own 2.59% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC raised its stake in Webster Financial Corp. by 6,585.6% in the second quarter. Lord Abbett & CO. LLC now owns 3,366,404 shares of the financial services provider’s stock valued at $114,289,000 after buying an additional 3,316,051 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in Webster Financial Corp. during the second quarter worth $23,154,000. Mesirow Financial Investment Management Equity Management acquired a new position in Webster Financial Corp. during the second quarter worth $16,208,000. Wellington Management Group LLP raised its position in Webster Financial Corp. by 15.6% in the first quarter. Wellington Management Group LLP now owns 3,478,022 shares of the financial services provider’s stock worth $124,862,000 after buying an additional 469,319 shares during the period. Finally, Nicholas Co. Inc. WI acquired a new position in Webster Financial Corp. during the second quarter worth $13,723,000. 94.31% of the stock is owned by institutional investors and hedge funds.
About Webster Financial Corp.
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions.
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