Barclays Reiterates an 'Overweight' on Webster Financial (WBS); West Coast Meetings Reinforce Our View
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Price: $77.57 --0%
Rating Summary:
8 Buy, 18 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 19
Rating Summary:
8 Buy, 18 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 19
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Barclays reiterates an 'Overweight' on Webster Financial (NYSE: WBS), PT $23.
Barclays analyst says, "While visiting investors on the West Coast for the first time, WBS management made comments about their strategy that gave us more confidence in our above consensus 2012 EPS estimate of $1.65 (vs. consensus of $1.49). Our key takeaways from the meetings are: 1. The call to action is clearly evident in management's plan for expense reduction and 60% efficiency ratio target with immediate steps being taken on branch and facilities optimization, and more actions planned. 2. Core business lending is emerging, reflecting payoff of additions to business development officers across the footprint. 3. Management is focused on increasing economic profit, with ROA and ROE targets of 1% and 12%, respectively."
For more ratings news on Webster Financial click here and for the rating history of Webster Financial click here.
Shares of Webster Financial closed at $20.78 yesterday.
Barclays analyst says, "While visiting investors on the West Coast for the first time, WBS management made comments about their strategy that gave us more confidence in our above consensus 2012 EPS estimate of $1.65 (vs. consensus of $1.49). Our key takeaways from the meetings are: 1. The call to action is clearly evident in management's plan for expense reduction and 60% efficiency ratio target with immediate steps being taken on branch and facilities optimization, and more actions planned. 2. Core business lending is emerging, reflecting payoff of additions to business development officers across the footprint. 3. Management is focused on increasing economic profit, with ROA and ROE targets of 1% and 12%, respectively."
For more ratings news on Webster Financial click here and for the rating history of Webster Financial click here.
Shares of Webster Financial closed at $20.78 yesterday.
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