Webster Financial Corporation (NYSE:WBS) financial service provider, is expected to report third quarter earnings results, before market open, on Thursday 22nd October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.67 per share.
Looking ahead, the full year income are expected at $ 2.36 per share on the revenues of $ 951.05 million.
Previous Quarter Performance
Webster Financial Corporation outlined income for the second quarter of $ 0.57 per share, from the revenue of $ 224.41 million. The quarterly earnings down 45.71 percent while revenues declined 7.19 percent compared with the same quarter last year.
Street analysts expected Webster Financial Corporation to report income of $ 0.48 per share on revenue of $ 230.22 million for the second quarter. The bottom line results beat street analysts by $ 0.09 or 18.75 percent, at the same time, top line results fell short of analysts by $ 5.81 million or 2.52 percent.
Stock Performance
Shares of Webster Financial Corporation traded up $ 0.54 or 1.87 percent on Wednesday, reaching $ 29.48 with volume of 293.20 thousand shares. The stock opened positive for the day at $ 29.03, after closing the previous day trading at $ 28.94.
According to the previous trading day, closing price of $ 28.94, representing a 59.36 % increase from the 52 week low of $ 18.16 and a 46.45 % decrease over the 52 week high of $ 54.04.
The company has a market capital of $ 2.66 billion and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Analyst recommendations
- On 28th September 2020, maintained by Piper Sandler at Overweight rating, with $ 32.00 target price.
Recent Stock Dividend Announcement
On July 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 August 5, 2020, with payment date of August 19, 2020 and ex-dividend date on August 4, 2020.
Conference Call
Webster Financial Corporation will be hosting a conference call at 9:00 AM eastern time on 22nd October 2020, to discuss its 3Q20 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.
