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

Webster Financial Co. (NYSE:WBS) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Tuesday, November 12th will be given a dividend of 0.40 per share by the financial services provider on Tuesday, November 26th. This represents a $1.60 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, November 8th.

NYSE WBS traded down $0.66 during trading hours on Wednesday, hitting $47.60. The company had a trading volume of 322,791 shares, compared to its average volume of 776,783. Webster Financial has a 52 week low of $42.29 and a 52 week high of $61.49. The firm has a 50 day simple moving average of $45.99 and a 200 day simple moving average of $47.48. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.39 and a beta of 1.27.

Webster Financial (NYSE:WBS) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.01). Webster Financial had a return on equity of 13.49% and a net margin of 27.14%. The company had revenue of $310.50 million during the quarter, compared to the consensus estimate of $314.65 million. During the same quarter in the prior year, the business earned $0.98 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts forecast that Webster Financial will post 4.09 earnings per share for the current year.

In other Webster Financial news, Director John Joseph Crawford sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.68, for a total value of $45,680.00. Following the sale, the director now owns 14,099 shares of the company’s stock, valued at approximately $644,042.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Pettie sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $46.32, for a total value of $185,280.00. Following the completion of the sale, the director now directly owns 35,272 shares in the company, valued at approximately $1,633,799.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,000 shares of company stock worth $321,640. Insiders own 1.53% of the company’s stock.

Several brokerages have commented on WBS. Sandler O’Neill downgraded Webster Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. ValuEngine upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Boenning Scattergood restated a “neutral” rating on shares of Webster Financial in a research note on Friday, July 19th. Morgan Stanley cut their target price on Webster Financial from $52.00 to $50.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Finally, Wells Fargo & Co cut their target price on Webster Financial from $55.00 to $50.00 and set a “market perform” rating for the company in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.33.

About Webster Financial

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.

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Dividend History for Webster Financial (NYSE:WBS)

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