Jefferies Downgrades Webster Financial (WBS) to Hold

Jefferies downgraded Webster Financial (NYSE: WBS) from Buy to Hold with a price target of $21.

The firm comments, "We move to the sidelines on WBS post the recent runup, with the stock trading at our $21 PT and valuation metrics in line with peers. The outlook for fundamentals remains positive with C&I loans growing, cost saves progressing and problem assets declining, but EPS run-rates are likely stuck in the low-$0.40 range through 2012, with NIM under pressure and little to no credit leverage going forward."

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 $21.15 yesterday.

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