Webster Financial Co. (WBS) Raises Dividend to $0.40 Per Share
Webster Financial Co. (NYSE:WBS) announced a quarterly dividend on Monday, April 22nd, RTT News reports. Investors of record on Monday, May 6th will be paid a dividend of 0.40 per share by the financial services provider on Monday, May 20th. This represents a $1.60 annualized dividend and a yield of 3.10%. This is an increase from Webster Financial’s previous quarterly dividend of $0.33.
Webster Financial has increased its dividend by an average of 12.0% per year over the last three years and has raised its dividend every year for the last 8 years. Webster Financial has a dividend payout ratio of 36.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Webster Financial to earn $4.32 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 30.6%.
Shares of WBS stock opened at $51.60 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.83 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $4.77 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.56 and a beta of 1.19. Webster Financial has a one year low of $45.38 and a one year high of $69.63.
Several analysts recently commented on WBS shares. Zacks Investment Research raised Webster Financial from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Tuesday, March 12th. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial in a research note on Thursday, January 24th. ValuEngine raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Finally, Barclays decreased their price target on Webster Financial from $68.00 to $62.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Webster Financial presently has an average rating of “Hold” and an average price target of $62.67.
In other Webster Financial news, Director James Copenhaver Smith sold 55,000 shares of Webster Financial stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $55.06, for a total value of $3,028,300.00. Following the completion of the transaction, the director now owns 310,984 shares in the company, valued at approximately $17,122,779.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Joseph Crawford sold 1,207 shares of Webster Financial stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $55.85, for a total value of $67,410.95. Following the completion of the transaction, the director now owns 18,008 shares of the company’s stock, valued at approximately $1,005,746.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,066 shares of company stock valued at $5,569,345. Corporate insiders own 1.53% of the company’s stock.
Webster Financial Company Profile
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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