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

Webster Financial Co. (NYSE:WBS) announced a quarterly dividend on Monday, July 19th, Zacks reports. Shareholders of record on Tuesday, August 3rd will be paid a dividend of 0.40 per share by the financial services provider on Tuesday, August 17th. This represents a $1.60 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Monday, August 2nd.

Webster Financial has raised its dividend by 55.3% over the last three years and has increased its dividend every year for the last 1 years.

WBS opened at $47.40 on Wednesday. Webster Financial has a one year low of $23.67 and a one year high of $63.81. The stock has a market cap of $4.29 billion, a P/E ratio of 12.78 and a beta of 1.55. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $54.41.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Sunday, April 18th. The financial services provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.35. Webster Financial had a return on equity of 10.78% and a net margin of 23.21%. The business had revenue of $300.50 million for the quarter, compared to the consensus estimate of $299.54 million. During the same quarter in the prior year, the business posted $0.39 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. Analysts forecast that Webster Financial will post 3.74 EPS for the current year.

A number of research analysts have recently commented on the company. Raymond James increased their price objective on Webster Financial from $59.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, June 3rd. Stephens upgraded Webster Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $56.00 to $60.00 in a report on Thursday, April 22nd. Finally, Morgan Stanley increased their price objective on Webster Financial from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Tuesday, April 20th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $55.20.

About Webster Financial

Webster Financial Corporation operates as the bank 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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