Webster Financial Corporation (NYSE:WBS) – Equities researchers at Wedbush boosted their FY2017 earnings estimates for shares of Webster Financial Corporation in a research note issued to investors on Thursday. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $2.60 for the year, up from their previous forecast of $2.52. Wedbush currently has a “Outperform” rating and a $60.00 price objective on the stock. Wedbush also issued estimates for Webster Financial Corporation’s Q4 2017 earnings at $0.66 EPS and FY2018 earnings at $2.85 EPS.

Webster Financial Corporation (NYSE:WBS) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.03. The firm had revenue of $266.75 million for the quarter, compared to analyst estimates of $269.03 million. Webster Financial Corporation had a return on equity of 9.89% and a net margin of 21.09%. During the same quarter last year, the firm posted $0.54 EPS.

COPYRIGHT VIOLATION WARNING: “Webster Financial Corporation to Post FY2017 Earnings of $2.60 Per Share, Wedbush Forecasts (WBS)” was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was copied illegally and reposted in violation of U.S. & international copyright laws. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/10/23/webster-financial-corporation-to-post-fy2017-earnings-of-2-60-per-share-wedbush-forecasts-wbs.html.

WBS has been the topic of a number of other research reports. Jefferies Group LLC reissued a “hold” rating and set a $53.00 price target on shares of Webster Financial Corporation in a research report on Friday, July 14th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $63.00 price target on shares of Webster Financial Corporation in a research report on Friday. Barclays PLC set a $55.00 price target on Webster Financial Corporation and gave the stock a “hold” rating in a research report on Friday. Zacks Investment Research downgraded Webster Financial Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Wells Fargo & Company boosted their price target on Webster Financial Corporation from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $54.11.

Shares of Webster Financial Corporation (NYSE WBS) opened at 55.27 on Monday. The firm has a 50-day moving average price of $50.60 and a 200-day moving average price of $50.55. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 23.03 and a beta of 1.26. Webster Financial Corporation has a 12-month low of $37.82 and a 12-month high of $57.50.

Several institutional investors have recently bought and sold shares of WBS. Seven Eight Capital LP acquired a new position in shares of Webster Financial Corporation in the second quarter valued at approximately $141,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Webster Financial Corporation by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,147 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 274 shares during the last quarter. Sky Investment Group LLC acquired a new position in shares of Webster Financial Corporation in the second quarter valued at approximately $200,000. Advisor Group Inc. grew its position in shares of Webster Financial Corporation by 13.3% in the second quarter. Advisor Group Inc. now owns 4,038 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 474 shares during the last quarter. Finally, BB&T Securities LLC acquired a new position in shares of Webster Financial Corporation in the second quarter valued at approximately $212,000. 93.67% of the stock is currently owned by institutional investors.

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 value of $1,639,799.60. Following the transaction, the executive vice president now owns 23,120 shares of the company’s stock, valued at $1,186,980.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Bley sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $51.20, for a total value of $409,600.00. Following the completion of the transaction, the executive vice president now directly owns 25,657 shares in the company, valued at approximately $1,313,638.40. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

About Webster Financial Corporation

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)

Receive News & Ratings for Webster Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.