RBC Capital analyst Steven Duong raised the firm’s price target on Webster Financial to $53 from $51 and keeps an Outperform rating on the shares. The company had a stable performance this quarter, even though the bank continued to see positive franchise momentum in both loans and deposits, the analyst tells investors in a research note. Webster’s lower margin reset this quarter drove a modest reduction in the revenue forecast, though the outlook also calls for near-term margin expansion, RBC adds.
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