Webster Financial (WBS) PT Lowered to $58 at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods analyst Chris McGratty lowered the price target on Webster Financial (NYSE: WBS) to $58.00 (from $64.00) while maintaining a Outperform rating.

The analyst commented, "Today's 600bps of relative underperformance reflects both modestly negative EPS revisions (-3%), but also more conservative messaging on CRE and capital — both in preparation for an eventual $100B cross. The good thing is WBS has plenty of profitability to absorb these modest headwinds (1.3% ROAA and 18% ROTCE) so at 8x 2024 and 7x 2025E we believe a large portion of this has already been de-risked from the stock."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Stantec Inc. (STN:CN) (STN) PT Lowered to Cdn$169 at Desjardins
• Va Tech Wabag Ltd. (VATW:IN) PT Raised to INR2,410 at ICICI Securities