Analysts Issue Forecasts for Webster Financial Corporation’s Q1 2018 Earnings (WBS)

Webster Financial Corporation (NYSE:WBS) – Equities researchers at Jefferies Group issued their Q1 2018 EPS estimates for shares of Webster Financial Corporation in a research note issued to investors on Tuesday. Jefferies Group analyst C. Haire forecasts that the financial services provider will earn $0.64 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $53.00 target price on the stock. Jefferies Group also issued estimates for Webster Financial Corporation’s Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.71 EPS and Q4 2018 earnings at $0.73 EPS.

Webster Financial Corporation (NYSE:WBS) last posted its earnings results on Friday, July 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.04. Webster Financial Corporation had a net margin of 20.43% and a return on equity of 9.49%. The business had revenue of $262.50 million for the quarter, compared to analysts’ expectations of $260.91 million. During the same quarter in the prior year, the business earned $0.53 EPS.

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A number of other research analysts also recently issued reports on WBS. ValuEngine downgraded Webster Financial Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research raised Webster Financial Corporation from a “sell” rating to a “hold” rating in a report on Monday. BidaskClub downgraded Webster Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, Piper Jaffray Companies reissued a “sell” rating and issued a $46.00 price target on shares of Webster Financial Corporation in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $53.00.

Shares of Webster Financial Corporation (NYSE:WBS) traded down 0.30% during trading on Wednesday, hitting $52.88. 105,423 shares of the stock traded hands. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 22.03 and a beta of 1.26. The stock has a 50 day moving average of $49.48 and a 200 day moving average of $50.38. Webster Financial Corporation has a 52-week low of $36.96 and a 52-week high of $57.50.

In other news, EVP Nitin J. Mhatre sold 31,940 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $51.34, for a total transaction of $1,639,799.60. Following the completion of the transaction, the executive vice president now directly owns 23,120 shares of the company’s stock, valued at approximately $1,186,980.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Daniel Bley sold 8,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 25,657 shares of the company’s stock, valued at $1,313,638.40. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in WBS. BlackRock Inc. increased its position in shares of Webster Financial Corporation by 14,031.4% during the first quarter. BlackRock Inc. now owns 10,092,772 shares of the financial services provider’s stock worth $505,043,000 after purchasing an additional 10,021,351 shares in the last quarter. Koch Industries Inc. purchased a new stake in shares of Webster Financial Corporation during the second quarter worth approximately $1,387,000. Victory Capital Management Inc. increased its position in shares of Webster Financial Corporation by 3,821.0% during the second quarter. Victory Capital Management Inc. now owns 804,776 shares of the financial services provider’s stock worth $42,026,000 after purchasing an additional 784,251 shares in the last quarter. State Street Corp increased its position in shares of Webster Financial Corporation by 12.5% during the first quarter. State Street Corp now owns 5,006,188 shares of the financial services provider’s stock worth $250,503,000 after purchasing an additional 556,988 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Webster Financial Corporation by 5.5% during the first quarter. Vanguard Group Inc. now owns 7,564,362 shares of the financial services provider’s stock worth $378,521,000 after purchasing an additional 395,457 shares in the last quarter. 93.67% of the stock is owned by institutional investors and hedge funds.

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.

Earnings History and Estimates for Webster Financial Corporation (NYSE:WBS)

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