RBC Capital analyst Jon Arfstrom has revised the price target for Webster Financial (WBS, Financial) from $68 to $60 following the company's underwhelming first-quarter earnings. Despite the reduction, the analyst maintains an Outperform rating on the stock.
Arfstrom highlighted that Webster Financial exhibited stable core performance, with slight margin expansion, continued core loan growth, and an increase in net interest income. These factors provide a somewhat positive view of the company's underlying business activities despite the earnings miss.
Looking ahead, RBC Capital remains optimistic about Webster Financial's long-term prospects. The company's robust and diverse funding base positions it well for future growth and stability, according to the research note shared by the analyst.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 14 analysts, the average target price for Webster Financial Corp (WBS, Financial) is $63.79 with a high estimate of $72.00 and a low estimate of $50.00. The average target implies an upside of 32.50% from the current price of $48.14. More detailed estimate data can be found on the Webster Financial Corp (WBS) Forecast page.
Based on the consensus recommendation from 15 brokerage firms, Webster Financial Corp's (WBS, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Webster Financial Corp (WBS, Financial) in one year is $49.28, suggesting a upside of 2.37% from the current price of $48.14. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Webster Financial Corp (WBS) Summary page.
