Webster Financial Co. (NYSE:WBS) – Stock analysts at Piper Jaffray Companies upped their FY2018 earnings per share estimates for shares of Webster Financial in a report issued on Friday, October 19th. Piper Jaffray Companies analyst M. Breese now expects that the financial services provider will earn $3.71 per share for the year, up from their previous forecast of $3.70. Piper Jaffray Companies also issued estimates for Webster Financial’s Q1 2019 earnings at $0.97 EPS, Q2 2019 earnings at $1.03 EPS, Q3 2019 earnings at $1.05 EPS, Q4 2019 earnings at $1.05 EPS, FY2019 earnings at $4.10 EPS, Q1 2020 earnings at $1.06 EPS, Q2 2020 earnings at $1.11 EPS, Q3 2020 earnings at $1.12 EPS and FY2020 earnings at $4.40 EPS.
Webster Financial (NYSE:WBS) last released its earnings results on Thursday, October 18th. The financial services provider reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.12. Webster Financial had a net margin of 25.77% and a return on equity of 12.36%. The business had revenue of $302.66 million for the quarter, compared to analyst estimates of $299.30 million. During the same period last year, the company posted $0.67 EPS.
A number of other research analysts have also weighed in on WBS. Wells Fargo & Co raised their target price on shares of Webster Financial from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Tuesday, June 26th. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial in a research report on Friday, October 19th. ValuEngine lowered shares of Webster Financial from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Zacks Investment Research lowered shares of Webster Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 30th. Finally, Barclays lifted their price target on shares of Webster Financial from $65.00 to $67.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. Webster Financial presently has a consensus rating of “Hold” and a consensus price target of $63.10.
WBS opened at $60.23 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.82 and a current ratio of 0.82. Webster Financial has a 1-year low of $51.68 and a 1-year high of $69.63. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 2.11 and a beta of 1.18.
Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in Webster Financial by 4.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,238,910 shares of the financial services provider’s stock valued at $142,619,000 after purchasing an additional 102,346 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Webster Financial by 46.1% in the 2nd quarter. Wells Fargo & Company MN now owns 1,396,777 shares of the financial services provider’s stock valued at $88,975,000 after purchasing an additional 440,873 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in Webster Financial by 1.0% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,262,960 shares of the financial services provider’s stock valued at $80,451,000 after purchasing an additional 12,272 shares during the last quarter. Putnam Investments LLC increased its holdings in Webster Financial by 17.4% in the 2nd quarter. Putnam Investments LLC now owns 1,116,161 shares of the financial services provider’s stock valued at $71,099,000 after purchasing an additional 165,678 shares during the last quarter. Finally, Brown Advisory Inc. increased its holdings in Webster Financial by 1.0% in the 2nd quarter. Brown Advisory Inc. now owns 974,827 shares of the financial services provider’s stock valued at $62,098,000 after purchasing an additional 9,470 shares during the last quarter. 91.91% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Daniel Bley sold 1,469 shares of Webster Financial stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $66.36, for a total transaction of $97,482.84. Following the sale, the executive vice president now owns 19,329 shares of the company’s stock, valued at approximately $1,282,672.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.96% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.19%. Webster Financial’s payout ratio is presently 50.97%.
About Webster Financial
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. It operates through four segments: Commercial Banking, Community Banking, HSA Bank, and Private Banking.
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