Jefferies Financial Group weighs on Webster Financial Co.’s earnings for fiscal 2021 (NYSE: WBS)
Webster Financial Co. (NYSE: WBS) – Investment analysts at Jefferies Financial Group raised their earnings estimates for fiscal 2021 for Webster Financial in a research report released to clients and investors on Saturday, July 31. Jefferies Financial Group analyst C. Haire now expects the financial services provider to earn $ 3.85 per share for the year, up from its previous estimate of $ 3.70. Jefferies Financial Group also released Webster Financial fourth quarter 2021 earnings estimates at $ 0.36 per share, first quarter 2022 earnings at $ 1.18 per share, second quarter 2022 earnings at 1.19 $ per share, third quarter 2022 earnings at $ 1.25 per share, fourth quarter 2022 earnings at $ 1.29 per share, and year 2022 earnings at $ 4.90 per share.
A number of other research companies have also recently commented on WBS. Morgan Stanley raised its price target on Webster Financial from $ 60.00 to $ 63.00 and gave the stock an “equal weight” rating in a Tuesday April 20 research note. Raymond James lowered his target price on Webster Financial from $ 64.00 to $ 60.00 and set an “outperform” rating on the stock in a research note on Friday July 23. Royal Bank of Canada raised its price target on Webster Financial from $ 62.00 to $ 63.00 and gave the stock an “outperformance” rating in a research note on Friday July 23. Stephens downgraded Webster Financial from an ‘equal weight’ rating to an ‘overweight’ rating and raised its target price for the stock from $ 56.00 to $ 60.00 in a research note on Thursday 22 April. Finally, Wedbush lowered its price target on Webster Financial from $ 65.00 to $ 60.00 and established an “outperform” rating on the stock in a research note on Friday, July 23. Three investment analysts gave the stock a conservation rating and seven gave the stock a buy rating. The company currently has an average rating of “Buy” and an average target price of $ 56.09.
NYSE WBS opened at $ 47.53 on Tuesday. The company has a market cap of $ 4.31 billion, a PE ratio of 13.31 and a beta of 1.54. Webster Financial has a one-year low of $ 23.67 and a one-year high of $ 63.81. The company has a quick ratio of 0.79, a current ratio of 0.79, and a debt ratio of 0.22. The company’s fifty-day simple moving average is $ 52.90. Webster Financial (NYSE: WBS) last released its quarterly earnings data on Thursday, July 22. The financial services provider reported earnings per share of $ 1.21 for the quarter, beating the consensus estimate of $ 1.00 by $ 0.21. The company posted revenue of $ 293.55 million for the quarter, compared to analysts’ expectations of $ 296.12 million. Webster Financial posted a return on equity of 12.41% and a net margin of 26.65%. The company’s revenue grew 3.2% year-over-year. During the same period last year, the company made EPS of $ 0.61.
Several hedge funds and other institutional investors recently changed their holdings to WBS. Acadian Asset Management LLC purchased a new position in Webster Financial shares during the first quarter valued at approximately $ 25,000. Harvest Fund Management Co. Ltd. purchased a new position in Webster Financial shares during the first quarter valued at approximately $ 28,000. Arkadios Wealth Advisors increased its position in Webster Financial by 214.6% in the 1st quarter. Arkadios Wealth Advisors now owns 560 shares of the financial services provider valued at $ 30,000 after purchasing 382 additional shares in the last quarter. FORA Capital LLC purchased a new stake in Webster Financial in the 1st quarter valued at approximately $ 89,000. Finally, Captrust Financial Advisors increased its position in Webster Financial by 1,426.8% in the first quarter. Captrust Financial Advisors now owns 2,901 shares of the financial services provider worth $ 160,000 after purchasing an additional 2,711 shares in the last quarter. 87.41% of the shares are held by institutional investors.
The company also recently unveiled a quarterly dividend, which will be paid on Tuesday, August 17. Shareholders of record on Tuesday August 3 will receive a dividend of $ 0.40 per share. This represents an annualized dividend of $ 1.60 and a dividend yield of 3.37%. The ex-dividend date is Monday August 2. Webster Financial’s payout ratio is 57.55%.
About Webster Financial
Webster Financial Corporation is the banking holding company of Webster Bank, a 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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