Webster Financial Corp. (WBS) Set to Announce Quarterly Earnings on Friday
Webster Financial Corp. (NYSE:WBS) is scheduled to be announcing its Q316 earnings results on Friday, October 21st. Analysts expect the company to announce earnings of $0.53 per share and revenue of $178.53 million for the quarter. Investors that wish to register for the company’s conference call can do so using this link.
Webster Financial Corp. (NYSE:WBS) last posted its earnings results on Wednesday, July 20th. The financial services provider reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. Webster Financial Corp. had a net margin of 19.44% and a return on equity of 8.84%. The company had revenue of $242 million for the quarter, compared to analyst estimates of $177.92 million. During the same quarter in the prior year, the business posted $0.55 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. On average, analysts expect Webster Financial Corp. to post $2.10 EPS for the current fiscal year and $2.31 EPS for the next fiscal year.
Shares of Webster Financial Corp. (NYSE:WBS) opened at 37.41 on Wednesday. Webster Financial Corp. has a 12-month low of $30.09 and a 12-month high of $40.72. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 17.73 and a beta of 1.46. The company has a 50 day moving average of $38.05 and a 200-day moving average of $36.74.
Several brokerages have recently issued reports on WBS. Zacks Investment Research upgraded shares of Webster Financial Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th. FBR & Co set a $36.00 target price on shares of Webster Financial Corp. and gave the stock a “hold” rating in a research note on Thursday, July 21st. Deutsche Bank AG upped their target price on shares of Webster Financial Corp. from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, October 11th. JPMorgan Chase & Co. dropped their target price on shares of Webster Financial Corp. from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, July 7th. Finally, Barclays PLC downgraded shares of Webster Financial Corp. from an “overweight” rating to an “equal weight” rating and set a $38.00 target price on the stock. in a research note on Friday, August 5th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $38.14.
In related news, Director Elizabeth E. Flynn purchased 2,900 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were bought at an average cost of $35.97 per share, for a total transaction of $104,313.00. Following the completion of the purchase, the director now directly owns 15,681 shares of the company’s stock, valued at approximately $564,045.57. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Joseph Crawford sold 3,000 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $36.15, for a total transaction of $108,450.00. Following the completion of the transaction, the director now owns 21,705 shares in the company, valued at $784,635.75. The disclosure for this sale can be found here. 2.59% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in WBS. Advisor Group Inc. bought a new position in shares of Webster Financial Corp. during the second quarter valued at approximately $111,000. Jane Street Group LLC purchased a new stake in Webster Financial Corp. during the second quarter valued at $251,000. Pacer Advisors Inc. purchased a new stake in Webster Financial Corp. during the second quarter valued at $262,000. FMR LLC increased its stake in Webster Financial Corp. by 1.1% in the second quarter. FMR LLC now owns 10,203 shares of the financial services provider’s stock valued at $346,000 after buying an additional 115 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in Webster Financial Corp. during the second quarter valued at $350,000. Institutional investors own 94.30% of the company’s stock.
Webster Financial Corp. Company Profile
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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