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

Webster Financial Co. (NYSE:WBS) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders 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 3.52%. The ex-dividend date is Friday, May 3rd.

Webster Financial has a payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

WBS stock opened at $45.48 on Friday. Webster Financial has a 52 week low of $31.03 and a 52 week high of $53.39. 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 fifty day simple moving average of $47.94 and a two-hundred day simple moving average of $46.49. The firm has a market capitalization of $7.81 billion, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33.

Webster Financial (NYSE:WBS) 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 net margin of 21.09% and a return on equity of 12.55%. The business had revenue of $667.10 million for the quarter, compared to the consensus estimate of $680.72 million. During the same quarter last year, the business earned $1.49 EPS. Webster Financial’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts anticipate that Webster Financial will post 5.72 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Luis Massiani sold 13,500 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total value of $697,005.00. Following the sale, the chief operating officer now directly owns 89,621 shares in the company, valued at approximately $4,627,132.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Webster Financial news, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction that occurred 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 directly owns 63,306 shares in the company, valued at approximately $3,317,234.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total transaction of $697,005.00. Following the sale, the chief operating officer now owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,975 shares of company stock worth $1,341,095. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WBS shares. Raymond James restated an “outperform” rating and issued a $60.00 target price on shares of Webster Financial in a report on Tuesday, March 26th. Citigroup lowered their target price on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday. Royal Bank of Canada lowered their target price on shares of Webster Financial from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday. Morgan Stanley raised their target price on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.