Jefferies Maintains a 'Hold' on Webster Financial (WBS); P260 on Track, But is it Sustainable

Article Stock Quotes (1) Comments (0)

Jefferies maintains a 'Hold' on Webster Financial (NYSE: WBS) price target of $23.00 (from $22.00).

Analyst, Casey Haire, said, "Fundamentals are in solid shape with loan pipelines full (at steady pricing), credit recovering, more efficiency initiatives coming, and capital return chatter heating up. We expect positive estimate revisions near-term as the street warms up to P260 hitting targets, but valuation seems fair (at 12x 2013) and sustainability of a 60% efficiency ratio could prove difficult given reinvestment risk within the securities portfolio." (Raises FY13 revenue estimate from $795.5M to $799.8M)

For an analyst ratings summary and ratings history on Webster Financial click here. For more ratings news on Webster Financial click here.

Shares of Webster Financial closed at $22.40 yesterday, with a 52 week range of $14.34-$23.94.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
• UPDATE: Global Equities Starts Tesla Motors (TSLA) at Overweight
• AMD (AMD) Refocuses Fight to Less Competitive Areas

Create E-mail Alert Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Jefferies & Co

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?