Webster Financial Corporation (WBS) to Issue Quarterly Dividend of $0.40 on August 20th

Webster Financial Corporation (NYSE:WBS) announced a quarterly dividend on Wednesday, July 29th. Stockholders of record on Monday, August 10th will be given a dividend of 0.40 per share by the financial services provider on Thursday, August 20th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, August 10th.

Webster Financial has a dividend payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Webster Financial to earn $7.23 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 22.1%.

Webster Financial Stock Up 1.9%

Webster Financial stock opened at $77.26 on Friday. The company has a market capitalization of $12.52 billion, a PE ratio of 12.56 and a beta of 1.00. Webster Financial has a 12-month low of $52.69 and a 12-month high of $77.69. The firm’s fifty day moving average is $74.96 and its 200 day moving average is $71.74. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.46.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The company had revenue of $769.23 million during the quarter, compared to analyst estimates of $755.80 million. During the same quarter in the previous year, the business posted $1.52 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts predict that Webster Financial will post 6.55 EPS for the current fiscal year.

About Webster Financial

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.