Sees FY24 NII $2.4B-$2.45B, excluding $75M of FTE adjustments. Guidance assumes 4 Fed rate cuts beginning in May. Sees FY24 non-interest income $375M-$400M, with expenses $1.3B-$1.325B. Sees FY efficiency ratio in the low to mid 40% range, with a tax rate of 21%. Sees long-term common equity tier 1 capital ratio of 10.5%. Comments taken from Q4 earnings conference call presentation slides.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on WBS:
- WBS Upcoming Earnings Report: What to Expect?
- Webster Financial initiated with a Buy at BofA
- Webster Financial price target raised to $60 from $58 at JPMorgan
- Webster Financial price target raised to $62 from $57 at Keefe Bruyette
- Webster Financial price target raised by $7 at Piper Sandler, here’s why
