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Raymond James Thinks Webster Financial’s Stock is Going to Recover

Raymond James analyst William Wallace maintained a Buy rating on Webster Financial (WBSResearch Report) today and set a price target of $57.00. The company’s shares closed last Wednesday at $42.16, close to its 52-week low of $40.72.

According to TipRanks.com, Wallace is a 5-star analyst with an average return of 18.7% and a 59.1% success rate. Wallace covers the Financial sector, focusing on stocks such as Capstar Financial Holdings, Dime Community Bancshares, and Business First Bancshares.

Currently, the analyst consensus on Webster Financial is a Moderate Buy with an average price target of $63.67.

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Webster Financial’s market cap is currently $7.51B and has a P/E ratio of 13.55.

Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is neutral on the stock.

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Webster Financial Corp. operates as a holding company for Webster Bank NA. It engages in providing financial services to individuals, families and businesses. It offers equipment financing, commercial real estate lending and asset-based lending services. It operates through the following business segments: Commercial Banking, HSA Bank and Community Banking, The Commercial Banking segment includes middle market, asset-based lending, commercial real estate, equipment finance and treasury and payment solutions, which includes government and institutional banking. The HSA Bank segment offers health savings accounts, health reimbursement accounts, flexible spending accounts, and other financial solutions for healthcare. The Community Banking segment serves consumer and business banking customers primarily throughout southern New England and into Westchester County, New York. It is comprised of personal banking and business banking supported by a distribution network consisting of banking centers and ATMs, a customer care center, telephone banking and a full range of web and mobile-based banking services. The company was founded in 1986 and is headquartered in Waterbury, CT.

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