Webster Financial Corp. Stock Rating Upgraded by Sterne Agee (WBS)
Webster Financial Corp. (NYSE:WBS) was upgraded by equities research analysts at Sterne Agee from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $28.00 price objective on the stock. Sterne Agee’s price target suggests a potential upside of 12.18% from the company’s current price.
The analysts wrote, “We are upgrading Webster Financial to Buy from Neutral. After recent underperformance versus peers (NASDAQ Bank Index), we believe the shares are attractively valued. Our $28 target price is based on a 13x 2015 earnings multiple and 1.6x our one-year forward TBV estimate. In our view, the company is likely to manage expenses more actively than peers over the next several years. This should further improve returns on tangible common equity which are expected to in the 11%-12% range in 2014/2015.”
A number of other analysts have also recently weighed in on WBS. Analysts at Zacks downgraded shares of Webster Financial Corp. (NYSE:WBS) from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, September 16th. They now have a $30.50 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Webster Financial Corp. (NYSE:WBS) in a research note to investors on Thursday, September 12th. They now have a $31.00 price target on the stock.
Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.75.
Shares of Webster Financial Corp. (NYSE:WBS) traded up 0.40% on Tuesday, hitting $25.06. 98,012 shares of the company’s stock traded hands. Webster Financial Corp. has a 52 week low of $19.71 and a 52 week high of $28.29. The stock has a 50-day moving average of $26.4 and a 200-day moving average of $24.96. The company has a market cap of $2.262 billion and a price-to-earnings ratio of 12.99.
Webster Financial Corp. (NYSE:WBS) last issued its quarterly earnings data on Friday, July 12th. The company reported $0.48 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.48. During the same quarter in the prior year, the company posted $0.44 earnings per share. Analysts expect that Webster Financial Corp. will post $1.92 EPS for the current fiscal year.
Webster Financial Corporation (NYSE:WBS) is a bank holding company and financial holding company.
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