Jefferies Maintains a 'Buy' on Webster Financial (WBS); Cost Saves Take Edge Off NIM Compression

Jefferies maintains a 'Buy' on Webster Financial (NYSE: WBS) price target raised $1 to $21.

Jefferies analyst says, "We are raising estimates (to $1.75 from $1.50) due to a better-than-expected net interest margin forecast and more clarity on cost saves plan in the wake of 3Q results. Revenue growth will be limited going forward as stronger loan growth is cancelled by a shrinking net interest margin, but coming cost saves should drive profitability higher post a $4mm Durbin hit in 4Q."

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 $17.90 yesterday.

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