Webster Financial's (NYSE:WBS) EPS Boosted on Strong Position

Webster Financial (NYSE:WBS) EPS had their full year 2011 through 2012 EPS estimates raised by Jefferies (NYSE:JEF), citing their being in a strong position to "bleed reserves."

Jefferies noted, "We expect net interest margin to compress going forward, but from a higher base following a surprising 4bp of expansion in 4Q due to deposit repricing, loan originations and a steeper yield curve."

They boosted their full year 2011 through 2012 EPS estimates on Webster Financial from $1.15 and 1.35 to $1.30 and $1.40, and initiated a full year 2013 estimate of $1.80 on the company.

Jefferies maintains a "Buy" rating on Webster Financial (WBS), which closed Tuesday at $22.65, gaining $1.25, or 5.84 percent. Jefferies raised their price target on Webster from $23 to $25.