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

Webster Financial Co. (NYSE:WBS) announced a quarterly dividend on Tuesday, October 22nd, RTT News reports. Shareholders of record on Friday, November 1st will be paid a dividend of 0.40 per share by the financial services provider on Tuesday, November 12th. This represents a $1.60 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, November 1st.

Webster Financial has a payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Webster Financial to earn $5.72 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 28.0%.

Webster Financial Stock Performance

Shares of WBS stock opened at $51.51 on Thursday. Webster Financial has a 12-month low of $36.36 and a 12-month high of $54.38. The business’s fifty day simple moving average is $46.67 and its 200-day simple moving average is $45.40. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The company has a market cap of $8.83 billion, a PE ratio of 11.68, a PEG ratio of 0.86 and a beta of 1.28.

Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). The business had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same period in the prior year, the company earned $1.55 earnings per share. Analysts expect that Webster Financial will post 5.27 earnings per share for the current fiscal year.

Insider Transactions at Webster Financial

In related news, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the transaction, the insider now directly owns 45,157 shares in the company, valued at approximately $2,215,853.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the sale, the insider now owns 45,157 shares of the company’s stock, valued at $2,215,853.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Pettie sold 4,500 shares of Webster Financial stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total transaction of $230,130.00. Following the transaction, the director now directly owns 32,780 shares of the company’s stock, valued at approximately $1,676,369.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,963 shares of company stock worth $865,622 over the last quarter. 0.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on WBS. Wedbush lifted their target price on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Royal Bank of Canada lifted their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Morgan Stanley dropped their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. StockNews.com lowered Webster Financial from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods dropped their price target on Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

About Webster Financial

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.