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

Webster Financial Co. (NYSE:WBS - Get Free Report) 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 annualized dividend and a yield of 3.55%. The ex-dividend date 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 Down 1.0 %

Shares of Webster Financial stock traded down $0.46 on Friday, reaching $45.02. The company's stock had a trading volume of 1,594,339 shares, compared to its average volume of 1,167,191. Webster Financial has a 52 week low of $31.03 and a 52 week high of $53.39. The firm's fifty day simple moving average is $47.88 and its two-hundred day simple moving average is $46.48. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 9.23, a P/E/G ratio of 0.37 and a beta of 1.33.

Webster Financial (NYSE:WBS - Get Free Report) last released 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 business had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. During the same quarter in the previous year, the business posted $1.49 earnings per share. Webster Financial's quarterly revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Webster Financial will post 5.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WBS. Morgan Stanley boosted their price objective on shares of Webster Financial from $51.00 to $61.00 and gave the company an "overweight" rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. lowered their price target on Webster Financial from $65.00 to $63.00 and set an "overweight" rating on the stock in a report on Wednesday. Jefferies Financial Group cut their price objective on Webster Financial from $65.00 to $56.00 and set a "buy" rating for the company in a report on Monday, April 8th. Keefe, Bruyette & Woods lowered 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. Finally, Barclays cut their price target on Webster Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.23.

Insiders Place Their Bets

In related 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the sale, the insider now owns 27,955 shares of the company's stock, valued at approximately $1,330,658. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher J. Motl sold 10,475 shares of the company's stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the transaction, the insider now owns 63,306 shares of the company's stock, valued at $3,317,234.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,975 shares of company stock worth $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.