tiprankstipranks
Webster Financial assumed with a Buy at UBS
The Fly

Webster Financial assumed with a Buy at UBS

UBS assumed coverage of Webster Financial (WBS) with a Buy rating and price target of $76, up from $60. The actions the bank has taken to reduce rate sensitivity will set it up for a more favorable net interest income path from here, the analyst tells investors in a research note. The firm says Webster’s asset sensitivity has declined over the past year, primarily due to the restructuring of its securities portfolio, adding favorable hedges, and deposit mix shifts. UBS does not think the stock is getting credit for its reduced asset sensitivity or consistently above peer returns.

Don't Miss Our New Year's Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App