HealthEquity IPO Implies 50%+ Upside For Webster Financial
- The market is assigning virtually zero value to Webster's HSA Bank, the largest HSA custodian in the country.
- Meanwhile, smaller HSA custodian, HealthEquity, has recently been awarded a $1B+ market value via a successful IPO.
- With superior size and scale, HSA Bank should be awarded a valuation at least as high as HealthEquity's.
- In addition, the company's core banking operations are outperforming peers yet valued less expensively.
- Considering the low volatility associated with a regional bank stock and Webster's massive upside potential, its risk/reward profile is among the best we've seen recently.