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

Webster Financial Corporation (NYSE:WBS) announced a quarterly dividend on Wednesday, July 29th. Stockholders of record on Monday, August 10th will be paid 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 is Monday, August 10th.

Webster Financial has a dividend payout ratio of 24.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.6%

Webster Financial stock opened at $75.86 on Thursday. Webster Financial has a 52 week low of $52.69 and a 52 week high of $77.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $12.29 billion, a PE ratio of 12.34 and a beta of 1.00. The business’s 50-day simple moving average is $74.87 and its 200-day simple moving average is $71.65.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WBS shares. UBS Group assumed coverage on Webster Financial in a report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price target for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Keefe, Bruyette & Woods cut their target price on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Royal Bank Of Canada increased their price target on shares of Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a report on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.04.

Webster Financial Company Profile

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.