Financial transaction

Webster Financial Co. (NYSE:WBS) expected to post quarterly sales of $594.46 million


Brokerages expect Webster Financial Co. (New York Stock Exchange: WBSGet a rating) to report $594.46 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have released earnings estimates for Webster Financial, with estimates ranging from $583.00 million to $610.80 million. Webster Financial posted sales of $293.55 million in the same quarter last year, suggesting a positive year-over-year growth rate of 102.5%. The company is expected to announce its next quarterly results on Monday, January 1.

According to Zacks, analysts expect Webster Financial to report annual revenue of $2.36 billion for the current year, with estimates ranging from $2.30 billion to $2.42 billion. of dollars. For the next fiscal year, analysts expect the company to post sales of $2.67 billion, with estimates ranging from $2.61 billion to $2.78 billion. Zacks sales calculations are an average based on a survey of sell-side research firms that track Webster Financial.

Webster Financial (New York Stock Exchange: WBSGet a rating) last announced its results on Thursday, April 28. The financial services provider reported EPS of $1.24 for the quarter, beating the consensus estimate of $1.16 by $0.08. The company posted revenue of $498.30 million for the quarter, versus a consensus estimate of $479.64 million. Webster Financial had a return on equity of 11.74% and a net margin of 19.35%. The company’s revenue increased 65.8% year over year. During the same period last year, the company posted EPS of $1.25.

A number of research analysts have recently published reports on the company. Wells Fargo & Company cut its price target on Webster Financial from $62.00 to $60.00 and set an “equal weight” rating for the company in a Monday, March 21 research report. Zacks Investment Research downgraded Webster Financial from a “buy” rating to a “hold” rating and set a price target of $53.00 for the company. in a research report on Tuesday, April 12. StockNews.com downgraded Webster Financial from a “hold” to a “sell” rating in a Monday, May 2, research rating. TheStreet downgraded Webster Financial from a ‘b’ rating to a ‘c+’ rating in a Thursday, April 28 research note. Finally, JPMorgan Chase & Co. launched coverage on Webster Financial in a research note on Friday, February 18. They issued a “neutral” rating on the title. One equity research analyst has assigned the stock a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned the stock a strong buy rating. society. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $64.33.

In other news, Director Maureen Mitchell bought 520 shares of the company in a trade on Friday, May 6. The shares were purchased at an average price of $48.51 per share, with a total value of $25,225.20. Following the acquisition, the administrator now directly owns 7,872 shares of the company, valued at approximately $381,870.72. The purchase was disclosed in a document filed with the SEC, accessible via this link. Additionally, insider Thomas X. Geisel sold 7,500 shares in a trade that took place on Tuesday, March 15. The stock was sold at an average price of $57.43, for a total value of $430,725.00. Disclosure of this sale can be found here. 1.85% of the shares are held by insiders.

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in WBS. BlackRock Inc. increased its stake in Webster Financial by 114.0% during the 1st quarter. BlackRock Inc. now owns 17,387,613 shares of the financial services provider worth $975,793,000 after purchasing an additional 9,264,404 shares during the period. Vanguard Group Inc. increased its position in Webster Financial shares by 88.3% in the first quarter. Vanguard Group Inc. now owns 17,401,872 shares of the financial services provider valued at $976,594,000 after acquiring an additional 8,161,424 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Webster Financial shares by 325.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,150,452 shares of the financial services provider valued at $345,177,000 after acquiring an additional 4,703,278 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of Webster Financial in the first quarter valued at approximately $185,173,000. Finally, Invesco Ltd. increased its stake in Webster Financial by 219.4% in the first quarter. Invesco Ltd. now owns 4,782,300 shares of the financial services provider worth $268,381,000 after purchasing an additional 3,285,002 shares during the period. Institutional investors and hedge funds own 45.99% of the company’s shares.

WBS Stock opened at $50.22 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt ratio of 0.14. Webster Financial has a 52 week low of $44.55 and a 52 week high of $65.00. The stock’s 50-day moving average is $50.06 and its two-hundred-day moving average is $55.21. The company has a market capitalization of $9.02 billion, a PE ratio of 16.20 and a beta of 1.29.

The company also recently announced a quarterly dividend, which was paid on Friday, May 27. Investors of record on Thursday, May 12 received a dividend of $0.40 per share. The ex-dividend date was Wednesday, May 11. This represents an annualized dividend of $1.60 and a yield of 3.19%. Webster Financial’s payout ratio is 51.61%.

About Webster Financial (Get a rating)

Webster Financial Corporation operates as a bank holding company for Webster Bank, National Association which 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 Retail Banking.

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Earnings history and estimates for Webster Financial (NYSE:WBS)



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