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Sterne Agee Reiterates Neutral Rating on Badger Meter (BMI)

Sterne Agee is out with a research report this morning, where it reiterates its Neutral rating on Webster Financial Corp. (NYSE: WBS); it did not provide a price target on the stock.

The SA analysts cited the company's recently announced earnings, which were ahead of their estimates, due primarily to a $3.7 million reserve release.

The analysts added that, while total past due and nonaccrual loans declined 4% sequentially, total restructured loans increased by 76%. With the margin having reached an inflection point and net earning assets growth expected to remain modest, the analysts have reduced 2011 and 2012 estimates.

Note that, during the quarter, the company paid down $100 million of TARP preferred; the company now has $200 million of TARP remaining.

Posted-In: Sterne AgeeAnalyst Color Price Target Analyst Ratings

 

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