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

Webster Financial Co. (NYSE:WBS - Get Free Report) declared 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 dividend on an annualized basis and a dividend yield of 3.08%.

Webster Financial has a payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. 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 Up 0.9 %

Shares of WBS traded up $0.47 during mid-day trading on Tuesday, reaching $51.96. The company had a trading volume of 997,023 shares, compared to its average volume of 1,254,130. Webster Financial has a 52 week low of $36.36 and a 52 week high of $54.38. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 0.88 and a beta of 1.28. The firm has a 50-day moving average price of $46.37 and a 200 day moving average price of $45.33.

Webster Financial (NYSE:WBS - Get Free Report) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.01). The company had revenue of $647.62 million during the quarter, compared to analysts' expectations of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period in the prior year, the company posted $1.55 earnings per share. On average, sell-side analysts forecast that Webster Financial will post 5.26 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on WBS. JPMorgan Chase & Co. decreased their target price on shares of Webster Financial from $58.00 to $55.00 and set an "overweight" rating for the company in a report on Wednesday, October 9th. StockNews.com downgraded Webster Financial from a "hold" rating to a "sell" rating in a research note on Friday. Keefe, Bruyette & Woods decreased their price target on Webster Financial from $58.00 to $55.00 and set an "outperform" rating for the company in a research note on Tuesday, July 9th. Wells Fargo & Company increased their price objective on Webster Financial from $50.00 to $60.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Jefferies Financial Group decreased their target price on Webster Financial from $56.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Webster Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.85.

Insider Activity at Webster Financial

In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total value of $76,428.00. Following the transaction, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the company's stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value of $76,428.00. Following the completion of the sale, the insider now owns 20,539 shares in the company, valued at $951,366.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the transaction, the insider now directly owns 45,157 shares in the company, valued at approximately $2,215,853.99. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,113 shares of company stock worth $711,920. 0.88% of the stock is owned by company insiders.

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.