Webster Financial Corporation (WBS) Expected to Announce Quarterly Sales of $268.13 Million
Equities analysts expect Webster Financial Corporation (NYSE:WBS) to report $268.13 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Webster Financial Corporation’s earnings, with the highest sales estimate coming in at $270.50 million and the lowest estimate coming in at $266.51 million. Webster Financial Corporation posted sales of $246.61 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8.7%. The business is scheduled to report its next quarterly earnings results on Friday, October 20th.
According to Zacks, analysts expect that Webster Financial Corporation will report full-year sales of $268.13 million for the current year, with estimates ranging from $1.05 billion to $1.08 billion. For the next year, analysts forecast that the business will post sales of $1.14 billion per share, with estimates ranging from $1.11 billion to $1.17 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Webster Financial Corporation.
Webster Financial Corporation (NYSE:WBS) last issued its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. Webster Financial Corporation had a return on equity of 9.49% and a net margin of 20.43%. The firm had revenue of $262.50 million for the quarter, compared to analyst estimates of $260.91 million. During the same period last year, the company earned $0.53 EPS.
Several research analysts recently weighed in on WBS shares. Zacks Investment Research raised Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Thursday, August 3rd. ValuEngine raised Webster Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday. Jefferies Group LLC reissued a “hold” rating and set a $53.00 price target on shares of Webster Financial Corporation in a research report on Friday, July 14th. BidaskClub raised Webster Financial Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Wedbush reissued an “outperform” rating and set a $60.00 price target on shares of Webster Financial Corporation in a research report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $53.00.
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Shares of Webster Financial Corporation (NYSE WBS) opened at 47.11 on Friday. The firm has a 50-day moving average price of $49.74 and a 200-day moving average price of $51.24. Webster Financial Corporation has a 52 week low of $36.96 and a 52 week high of $57.50. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 19.63 and a beta of 1.28.
The company also recently announced a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were paid a $0.26 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.21%. Webster Financial Corporation’s dividend payout ratio (DPR) is currently 43.33%.
In other Webster Financial Corporation news, EVP Daniel Bley sold 8,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $51.20, for a total value of $409,600.00. Following the transaction, the executive vice president now owns 25,657 shares in the company, valued at $1,313,638.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nitin J. Mhatre sold 31,940 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $51.34, for a total value of $1,639,799.60. Following the completion of the transaction, the executive vice president now owns 23,120 shares in the company, valued at approximately $1,186,980.80. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in WBS. Seven Eight Capital LP bought a new stake in Webster Financial Corporation during the second quarter valued at about $141,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Webster Financial Corporation by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,147 shares of the financial services provider’s stock valued at $164,000 after buying an additional 274 shares during the period. Flinton Capital Management LLC increased its stake in Webster Financial Corporation by 20.9% in the first quarter. Flinton Capital Management LLC now owns 3,152 shares of the financial services provider’s stock valued at $158,000 after buying an additional 544 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in Webster Financial Corporation by 18.6% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,185 shares of the financial services provider’s stock valued at $155,000 after buying an additional 500 shares during the period. Finally, Sky Investment Group LLC bought a new stake in Webster Financial Corporation during the second quarter valued at about $200,000. Institutional investors own 94.09% of the company’s stock.
Webster Financial Corporation 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, which includes government and institutional banking.
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