Webster Financial price target lowered to $51 from $56 at Jefferies

Jefferies analyst Casey Haire lowered the firm’s price target on Webster Financial to $51 from $56 and keeps a Buy rating on the shares. The firm has moved to forecasting five Fed cuts of 25 basis points through 2025 and believes bank net interest margins will benefit from fixed-rate asset repricing and roll-off of swaps/hedges for many, adding that softer loan growth and higher deposit costs are “the main results of higher-for-longer” in a preview note ahead of results from the bank group.