Analysts forecast that Webster Financial Co. (NYSE:WBS) will announce $310.17 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Webster Financial’s earnings, with the lowest sales estimate coming in at $307.70 million and the highest estimate coming in at $313.38 million. Webster Financial posted sales of $282.92 million in the same quarter last year, which would indicate a positive year over year growth rate of 9.6%. The firm is expected to issue its next earnings results before the market opens on Thursday, April 18th.
On average, analysts expect that Webster Financial will report full-year sales of $1.27 billion for the current financial year, with estimates ranging from $1.25 billion to $1.28 billion. For the next financial year, analysts anticipate that the business will post sales of $1.33 billion, with estimates ranging from $1.31 billion to $1.36 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Webster Financial.
Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Thursday, January 24th. The financial services provider reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.03. Webster Financial had a net margin of 26.94% and a return on equity of 13.36%. The business had revenue of $310.30 million for the quarter, compared to analyst estimates of $305.55 million. During the same period last year, the business earned $0.73 EPS. The company’s revenue was up 14.5% on a year-over-year basis.
Shares of WBS traded down $0.44 during midday trading on Friday, reaching $54.28. The stock had a trading volume of 3,624 shares, compared to its average volume of 460,614. Webster Financial has a 1-year low of $45.38 and a 1-year high of $69.63. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.62 and a beta of 1.19. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.75.
In related news, Director John Joseph Crawford sold 1,207 shares of the firm’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $55.85, for a total value of $67,410.95. Following the completion of the sale, the director now owns 18,008 shares in the company, valued at $1,005,746.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Copenhaver Smith sold 45,859 shares of the firm’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $53.94, for a total transaction of $2,473,634.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,066 shares of company stock worth $5,569,345. Insiders own 1.53% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in Webster Financial by 1.5% during the fourth quarter. BlackRock Inc. now owns 8,652,358 shares of the financial services provider’s stock worth $426,472,000 after acquiring an additional 126,127 shares during the last quarter. Vanguard Group Inc. raised its position in Webster Financial by 3.3% during the third quarter. Vanguard Group Inc. now owns 8,461,192 shares of the financial services provider’s stock worth $498,873,000 after acquiring an additional 270,130 shares during the last quarter. Vanguard Group Inc raised its position in Webster Financial by 3.3% during the third quarter. Vanguard Group Inc now owns 8,461,192 shares of the financial services provider’s stock worth $498,873,000 after acquiring an additional 270,130 shares during the last quarter. Bank of New York Mellon Corp raised its position in Webster Financial by 3.7% during the fourth quarter. Bank of New York Mellon Corp now owns 2,290,629 shares of the financial services provider’s stock worth $112,904,000 after acquiring an additional 81,913 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in Webster Financial by 2.1% during the fourth quarter. Macquarie Group Ltd. now owns 2,181,475 shares of the financial services provider’s stock worth $107,525,000 after acquiring an additional 45,660 shares during the last quarter. Institutional investors own 91.38% of the company’s stock.
Webster Financial Company Profile
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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