RBC Capital lowered the firm’s price target on Webster Financial to $48 from $53 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 earnings for Regional Banks. The industry and investors have evolved beyond the liquidity concerns from earlier this year, but revenue headwinds from lingering deposit pricing competition, negative funding mix changes, and slowing loan growth continue to be headwinds for the sector, the analyst tells investors in a research note. RBC adds however that the trough on some of these issues may be near, with margin and revenue pressures also seen as abating.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on WBS:
- 3 Best Stocks to Buy Now, 10/11/2023, According to Top Analysts
- Webster Financial price target lowered to $42 from $50 at Wells Fargo
- Seaport Research rolls out coverage of eight New England banks
- Webster Financial initiated with a Buy at Seaport Research
- Webster Financial management to meet with Piper Sandler