Jefferies Group Weighs in on Webster Financial Corp.’s Q1 2017 Earnings (WBS)
Webster Financial Corp. (NYSE:WBS) – Analysts at Jefferies Group issued their Q1 2017 EPS estimates for Webster Financial Corp. in a note issued to investors on Tuesday. Jefferies Group analyst C. Haire anticipates that the firm will earn $0.52 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $36.00 target price on the stock. Jefferies Group also issued estimates for Webster Financial Corp.’s Q2 2017 earnings at $0.56 EPS, Q3 2017 earnings at $0.58 EPS and Q4 2017 earnings at $0.60 EPS.
Other equities research analysts have also recently issued reports about the company. Deutsche Bank AG raised their target price on Webster Financial Corp. from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Webster Financial Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th. Barclays PLC lowered Webster Financial Corp. from an “overweight” rating to an “equal weight” rating and set a $38.00 target price on the stock. in a report on Friday, August 5th. FBR & Co reaffirmed a “hold” rating and set a $36.00 target price on shares of Webster Financial Corp. in a report on Friday, June 17th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $39.00 price target on shares of Webster Financial Corp. in a research note on Friday, June 17th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.33.
Shares of Webster Financial Corp. (NYSE:WBS) opened at 37.24 on Thursday. The company has a 50-day moving average of $38.13 and a 200-day moving average of $36.70. The firm has a market capitalization of $3.41 billion, a PE ratio of 17.65 and a beta of 1.46. Webster Financial Corp. has a 52 week low of $30.09 and a 52 week high of $40.72.
Webster Financial Corp. (NYSE:WBS) last posted its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. Webster Financial Corp. had a net margin of 19.44% and a return on equity of 8.84%. The business had revenue of $242 million for the quarter, compared to analysts’ expectations of $177.92 million. During the same period in the prior year, the company posted $0.55 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis.
A number of large investors have recently bought and sold shares of the company. Advisor Group Inc. bought a new stake in Webster Financial Corp. during the second quarter valued at $111,000. LS Investment Advisors LLC raised its stake in Webster Financial Corp. by 72.3% in the second quarter. LS Investment Advisors LLC now owns 5,480 shares of the financial services provider’s stock valued at $186,000 after buying an additional 2,300 shares during the period. Tower Research Capital LLC TRC raised its stake in Webster Financial Corp. by 1,561.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,714 shares of the financial services provider’s stock valued at $194,000 after buying an additional 5,370 shares during the period. Capstone Asset Management Co. raised its stake in Webster Financial Corp. by 3.3% in the second quarter. Capstone Asset Management Co. now owns 6,011 shares of the financial services provider’s stock valued at $204,000 after buying an additional 190 shares during the period. Finally, Independent Portfolio Consultants Inc. raised its stake in Webster Financial Corp. by 4.9% in the third quarter. Independent Portfolio Consultants Inc. now owns 6,105 shares of the financial services provider’s stock valued at $232,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors own 94.31% of the company’s stock.
In related news, Director Elizabeth E. Flynn bought 2,900 shares of Webster Financial Corp. stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased at an average cost of $35.97 per share, for a total transaction of $104,313.00. Following the acquisition, the director now owns 15,681 shares in the company, valued at $564,045.57. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Daniel Bley sold 5,153 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $36.03, for a total value of $185,662.59. Following the completion of the sale, the executive vice president now owns 35,415 shares of the company’s stock, valued at $1,276,002.45. The disclosure for this sale can be found here. Insiders own 2.59% of the company’s stock.
Webster Financial Corp. 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.
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