Webster Financial Co. (NYSE:WBS) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Tuesday, November 12th will be paid 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 3.38%. The ex-dividend date is Friday, November 8th.
Shares of WBS traded down $0.95 during mid-day trading on Wednesday, hitting $47.31. The stock had a trading volume of 12,913 shares, compared to its average volume of 776,783. The company has a market cap of $4.45 billion, a PE ratio of 12.66, a PEG ratio of 1.39 and a beta of 1.27. The company’s fifty day simple moving average is $45.99 and its two-hundred day simple moving average is $47.48. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.65. Webster Financial has a fifty-two week low of $42.29 and a fifty-two week high of $61.49.
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). The firm had revenue of $310.50 million during the quarter, compared to analyst estimates of $314.65 million. Webster Financial had a return on equity of 13.49% and a net margin of 27.14%. Webster Financial’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. Equities analysts expect that Webster Financial will post 4.09 earnings per share for the current year.
In related news, Director Mark Pettie sold 4,000 shares of Webster Financial stock in a transaction on Monday, November 4th. The stock was sold at an average price of $46.32, for a total value of $185,280.00. Following the transaction, the director now directly owns 35,272 shares in the company, valued at approximately $1,633,799.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Joseph Crawford sold 2,000 shares of Webster Financial stock in a transaction on Friday, November 1st. The stock was sold at an average price of $45.34, for a total value of $90,680.00. Following the completion of the transaction, the director now owns 12,099 shares in the company, valued at $548,568.66. The disclosure for this sale can be found here. Insiders sold a total of 7,000 shares of company stock worth $321,640 in the last three months. Company insiders own 1.53% of the company’s stock.
WBS has been the subject of several research reports. Morgan Stanley decreased their target price on Webster Financial from $52.00 to $50.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Compass Point lowered Webster Financial from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 22nd. Wells Fargo & Co cut their target price on Webster Financial from $55.00 to $50.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 2nd. Stephens initiated coverage on Webster Financial in a research note on Monday, October 28th. They set an “underweight” rating and a $42.00 target price on the stock. Finally, Sandler O’Neill downgraded Webster Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Two 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’s stock. The company presently has an average rating of “Hold” and an average 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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