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

Webster Financial Co. (NYSE:WBS) declared a quarterly dividend on Wednesday, January 29th,RTT News reports. Stockholders of record on Monday, February 10th will be given a dividend of 0.40 per share by the financial services provider on Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Monday, February 10th.

Webster Financial has a payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Webster Financial to earn $6.64 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 24.1%.

Webster Financial Price Performance

Shares of NYSE WBS opened at $60.91 on Friday. Webster Financial has a twelve month low of $39.33 and a twelve month high of $63.99. The firm has a market capitalization of $10.44 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.09 and a beta of 1.29. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. The stock’s 50-day simple moving average is $57.81 and its two-hundred day simple moving average is $52.44.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Friday, January 17th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. The company had revenue of $661.00 million during the quarter, compared to the consensus estimate of $687.53 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. During the same period in the previous year, the firm posted $1.46 EPS. As a group, equities analysts anticipate that Webster Financial will post 5.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on WBS shares. Barclays increased their target price on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Wells Fargo & Company raised shares of Webster Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $70.00 to $75.00 in a research note on Monday, January 6th. Wedbush raised their target price on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. reduced their price target on Webster Financial from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Stephens set a $58.00 price objective on Webster Financial in a research report on Thursday, October 17th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Webster Financial has a consensus rating of “Moderate Buy” and an average price target of $62.08.

Insider Transactions at Webster Financial

In other news, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $59.50, for a total value of $297,500.00. Following the completion of the transaction, the insider now owns 33,657 shares in the company, valued at $2,002,591.50. The trade was a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $59.33, for a total value of $474,640.00. Following the completion of the sale, the chief executive officer now owns 218,924 shares of the company’s stock, valued at $12,988,760.92. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,150 shares of company stock worth $903,085. Corporate 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.