Professional
Added to YB: 2024-07-29
Pitch date: 2024-07-02
WBS [bullish]
Webster Financial Corporation
+48.57%
current return
Author Info
No bio for this author
Company Info
Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides various financial products and services to businesses, individuals, and families in the United States.
Market Cap
$9.3B
Pitch Price
$43.05
Price Target
60.00 (-6%)
Dividend
2.78%
EV/EBITDA
N/A
P/E
10.75
EV/Sales
N/A
Sector
Banks
Category
value
Rewey Asset Management Portfolio Holding: Webster Financial Corporation
WBS: Regional bank at 0.87x P/B, 7.75x 2024 P/E. Strong financials: 10.5% CET1, 84.1% loan-to-deposit. Diverse deposits: 15% from HSA Bank (15bps cost). 5% loan growth, 5-7% deposit growth forecast. $20B CRE portfolio, only $1B office exposure. $60 PT (38% upside). Potential HSA Bank IPO catalyst. 3.69% dividend yield. Risks: CRE fears, delayed rate cuts.
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