Webster Financial Corporation (NYSE:WBS) financial service provider, is reporting second quarter earnings results on Thursday 23rd July 2020, before market open.
The consensus estimates from Thomson Reuters are income of $ 0.48 per share.
For the full year, analysts predict revenues of $ 935.13 million, while looking forward to income of $ 2.20 per share.
Previous Quarter Performance
Webster Financial Corporation unwinded income for the first quarter of $ 0.39 per share, from the revenue of $ 230.80 million. The quarterly earnings shrunk 63.21 percent while revenues fell 4.45 percent compared with the same quarter last year.
According to street consensus, WBS was expected to report 1Q20 income of $ 0.55 per share from revenue of $ 231.73 million. The bottom line results missed street analysts by $ 0.16 or 29.09 percent, at the same time, top line results fell short of analysts by $ 0.93 million or 0.4 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of WBS was $ 26.65, representing a 46.75 % increase from the 52 week low of $ 18.16 and a 50.68 % decrease over the 52 week high of $ 54.04.
The company has a market capital of $ 2.40 billion and is part of the Financial Services sector and Banks – Regional – US industry.
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Recent Analyst recommendations
On 7th July 2020, maintained by Wells Fargo & Co at Overweight rating, with $ 29.00 target price.
On 24th June 2020, initiated by RBC Capital at Outperform rating, with $ 37.00 target price.
On 8th June 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 34.00 target price.
Recent Stock Dividend Announcement
On April 21, 2020, the board of directors authorized quarterly dividend of $ 0.40 per share to holders of record as of the close of business on May 6, 2020, with payment date of May 20, 2020 and ex-dividend date on May 5, 2020.
Conference Call
Webster Financial Corporation will be hosting a conference call at 9:00 AM eastern time on 23rd July 2020, to discuss its 2Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website public.websteronline.com
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. The Commercial Banking segment provides lending, deposit, and cash management services to middle market companies; and commercial and industrial lending and leasing, commercial real estate lending, equipment financing, and asset-based lending, as well as treasury and payment services.
