Webster Financial Co. (NYSE:WBS – Get Free Report) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Monday, May 6th will be given a dividend of 0.40 per share by the financial services provider on Thursday, May 16th. This represents a $1.60 annualized dividend and a yield of 3.52%. The ex-dividend date is Friday, May 3rd.
Webster Financial has a payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Webster Financial to earn $6.36 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 25.2%.
Webster Financial Price Performance
WBS stock opened at $45.48 on Friday. Webster Financial has a 52 week low of $31.03 and a 52 week high of $53.39. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. The company has a fifty day simple moving average of $47.94 and a two-hundred day simple moving average of $46.49. The firm has a market capitalization of $7.81 billion, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 0.37 and a beta of 1.33.
Insider Activity
In other news, COO Luis Massiani sold 13,500 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total value of $697,005.00. Following the sale, the chief operating officer now directly owns 89,621 shares in the company, valued at approximately $4,627,132.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Webster Financial news, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the completion of the sale, the insider now directly owns 63,306 shares in the company, valued at approximately $3,317,234.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total transaction of $697,005.00. Following the sale, the chief operating officer now owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,975 shares of company stock worth $1,341,095. Corporate insiders own 0.88% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on WBS shares. Raymond James restated an “outperform” rating and issued a $60.00 target price on shares of Webster Financial in a report on Tuesday, March 26th. Citigroup lowered their target price on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday. Royal Bank of Canada lowered their target price on shares of Webster Financial from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday. Morgan Stanley raised their target price on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.23.
Read Our Latest Stock Report on WBS
Webster Financial Company Profile
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.
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