Webster Financial Corp. (WBS) is a small-cap ($2.6B) Waterbury CT-based financial firm with a bank (Webster Bank) and insurance subsidiary (Webster Insurance). The firm has roughly 169 branch offices spread across Connecticut, Rhode Island, Westchester County NY, and Massachusetts. The firm trades at a reasonable P/E (~14.6X), has solid Tier 1 reserves (~11.4%), growing EPS, and a decent though not spectacular dividend yield (~2%).
In summary, Webster is exactly the kind of long-term financial industry investment I look for, but right now company has a pretty fair valuation. Given that I think the firm is a good investment for those looking to invest for the long term, but it probably doesn't have much upside in the near-term. In...
Only subscribers can access this article, which is part of the PRO research library covering 3,559 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can: