Webster Financial price target lowered to $58 from $65 at Raymond James

Raymond James lowered the firm’s price target on Webster Financial (WBS) to $58 from $65 and keeps an Outperform rating on the shares. The firm’s outlook now contemplates a slightly more conservative net interest margin and near-term balance sheet growth outlook, partly offset by a more optimistic near-term cadence of capital return via share repurchases, the analyst tells investors in a research note.