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

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 dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, May 3rd.

Webster Financial has a dividend payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Webster Financial to earn $6.28 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 25.5%.

Webster Financial Trading Up 1.2 %

NYSE:WBS opened at $44.37 on Thursday. The firm has a fifty day simple moving average of $47.72 and a two-hundred day simple moving average of $46.69. Webster Financial has a 12 month low of $31.03 and a 12 month high of $53.39. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 0.39 and a beta of 1.35. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.54.

Webster Financial (NYSE:WBS) last issued its earnings results 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 net margin of 21.09% and a return on equity of 12.55%. The firm had revenue of $667.10 million during the quarter, compared to analyst estimates of $680.72 million. During the same quarter in the prior year, the business earned $1.49 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. Analysts expect that Webster Financial will post 5.62 EPS for the current fiscal year.

Insider Activity at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the transaction, the insider now owns 27,955 shares of the company’s stock, valued at $1,330,658. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.88% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods cut their target price on Webster Financial from $64.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Barclays dropped their price objective on shares of Webster Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. 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 report on Monday, April 8th. Royal Bank of Canada dropped their price target on shares of Webster Financial from $57.00 to $54.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Finally, Citigroup decreased their price objective on Webster Financial from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Webster Financial currently has an average rating of “Moderate Buy” and an average target price of $56.23.

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.