Webster Financial Co. to Issue Quarterly Dividend of $0.40 (NYSE:WBS)

Webster Financial Co. (NYSE:WBS) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Monday, May 6th will be given a dividend of 0.40 per share by the financial services provider on Thursday, May 16th. This represents a $1.60 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Friday, May 3rd.

Webster Financial has a payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Webster Financial to earn $6.36 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 25.2%.

Webster Financial Stock Performance

NYSE WBS opened at $45.48 on Friday. The company has a 50-day simple moving average of $47.94 and a two-hundred day simple moving average of $46.49. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. Webster Financial has a 12-month low of $31.03 and a 12-month high of $53.39. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 0.37 and a beta of 1.33.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The company had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter last year, the business earned $1.49 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts forecast that Webster Financial will post 5.72 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WBS shares. Keefe, Bruyette & Woods decreased their target price on shares of Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday. Jefferies Financial Group decreased their target price on shares of Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Raymond James reaffirmed an “outperform” rating and set a $60.00 target price on shares of Webster Financial in a research note on Tuesday, March 26th. Finally, Citigroup decreased their target price on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.23.

Insiders Place Their Bets

In other news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the transaction, the insider now owns 27,955 shares in the company, valued at approximately $1,330,658. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Webster Financial news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total value of $95,200.00. Following the sale, the insider now directly owns 27,955 shares in the company, valued at approximately $1,330,658. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the completion of the sale, the insider now owns 63,306 shares in the company, valued at $3,317,234.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,975 shares of company stock valued at $1,341,095. Company insiders own 0.88% of the company’s stock.

Webster Financial Company Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.