Raymond James lowered the firm’s price target on Webster Financial to $50 from $56 and keeps an Outperform rating on the shares. Webster’s Q1 results were mixed, with solid balance sheet, operating expenses, and credit quality offset by by NIM compression and lower fee income results, the analyst tells investors in a research note. The firm ultimately remains bullish on the shares given strong growth and profitability metrics, as well as solid credit quality.
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Published first on TheFly
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Read More on WBS:
- Webster Financial price target lowered to $50 from $55 at Wells Fargo
- Webster Financial sees FY23 loan growth 4%-6%, core deposit growth 8%-10%
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- Webster Financial price target lowered to $56 from $60 at Raymond James