Brokers Issue Forecasts for Webster Financial Co.’s Q1 2020 Earnings (NYSE:WBS)

Webster Financial Co. (NYSE:WBS) – Equities researchers at Piper Sandler reduced their Q1 2020 earnings per share (EPS) estimates for Webster Financial in a research note issued on Monday, March 23rd. Piper Sandler analyst M. Fitzgibbon now anticipates that the financial services provider will post earnings of $0.83 per share for the quarter, down from their prior estimate of $0.92. Piper Sandler also issued estimates for Webster Financial’s Q2 2020 earnings at $0.71 EPS, Q3 2020 earnings at $0.71 EPS, Q4 2020 earnings at $0.69 EPS, Q1 2021 earnings at $0.73 EPS, Q2 2021 earnings at $0.74 EPS, Q3 2021 earnings at $0.79 EPS and Q4 2021 earnings at $0.80 EPS.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.01). The company had revenue of $302.20 million during the quarter, compared to analysts’ expectations of $308.90 million. Webster Financial had a return on equity of 12.99% and a net margin of 26.57%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.05 EPS.

Several other analysts also recently weighed in on the company. Stephens upgraded Webster Financial from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $44.00 to $46.50 in a research note on Friday, January 24th. Compass Point upgraded Webster Financial from a “neutral” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Friday, January 24th. Morgan Stanley reduced their price objective on Webster Financial from $41.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 17th. Finally, ValuEngine raised Webster Financial from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $49.79.

Shares of WBS stock opened at $21.98 on Thursday. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 5.40, a price-to-earnings-growth ratio of 0.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.84 and a quick ratio of 0.84. The business has a fifty day moving average of $36.41 and a 200 day moving average of $45.66. Webster Financial has a 1 year low of $18.16 and a 1 year high of $55.08.

In other Webster Financial news, CEO John R. Ciulla purchased 2,300 shares of the stock in a transaction on Monday, February 3rd. The shares were bought at an average cost of $46.51 per share, with a total value of $106,973.00. Insiders own 1.53% of the company’s stock.

Large investors have recently made changes to their positions in the business. First Trust Advisors LP increased its holdings in shares of Webster Financial by 31.8% during the 1st quarter. First Trust Advisors LP now owns 54,618 shares of the financial services provider’s stock valued at $2,767,000 after purchasing an additional 13,181 shares in the last quarter. State Street Corp boosted its holdings in Webster Financial by 1.0% during the third quarter. State Street Corp now owns 3,151,372 shares of the financial services provider’s stock worth $147,705,000 after buying an additional 32,011 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Webster Financial during the third quarter worth $269,000. California State Teachers Retirement System boosted its holdings in Webster Financial by 0.3% during the third quarter. California State Teachers Retirement System now owns 145,653 shares of the financial services provider’s stock worth $6,827,000 after buying an additional 394 shares in the last quarter. Finally, Circle Wealth Management LLC purchased a new stake in Webster Financial during the third quarter worth $577,000. 89.82% of the stock is owned by institutional investors.

Webster Financial Company Profile

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that 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 Community Banking.

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

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