Webster Bank branch in Hamden, CT Webster Financial shares will thrive due to strong growth from its commercial banking and health savings account businesses, according to J.P. Morgan. The firm reiterated its overweight rating for Webster Financial's stock and added it to J.P. Morgan's focus list, predicting the bank will generate earnings per share above expectations next year. "We recently held investor meetings with Webster's senior management team including CEO John Ciulla … Overall, we...

Barry Silbert, Founder and CEO, Digital Currency Group Digital Currency Group's Barry Silbert is optimistic about bitcoin as an investment. "I think we’ve probably hit the bottom for the year. I actually put some money into bitcoin last week," he said at the Delivering Alpha Conference in New York on Wednesday. “As an asset class it is here to stay … I’m 100% confident a decentralized, non-fiat form of money is here to stay.” The price of bitcoin is currently trading at $7,380 Wednesday, down...

The Italian flag waves over the Quirinal Palace in Rome, Italy May 30, 2018. Major bank stocks tumbled on Tuesday due to political turmoil in Italy, sparking worries about the prospect of another eurozone crisis. Shares of J.P. Morgan Chase, Bank of America, Morgan Stanley and Citigroup all fell 4 percent or more on Tuesday. But Jefferies believes the decline in financial sector shares is a good buying opportunity because major US banks do not have much exposure to the European country. "The...

A man incarnating a 'Toro de Fuego' (bull of fire) chases people during the San Fermin Festival on July 8, 2017, in Pamplona, Spain. J.P. Morgan's chart expert is telling clients to ignore recent market worries, predicting the S&P 500 will rise to new highs. "Technicals continue to suggest consolidation within a late-cycle rally. Look for new highs in the months ahead," Jason Hunter, head of global fixed income and U.S. equity technical strategy, said in a note to clients Wednesday. "Even if...

Warren Buffett believes the rise of autonomous driving cars will hurt the insurance industry. "Net it will be bad for the auto insurance industry over time if autonomous cars become a big part of the fleet," the billionaire investor says. Warren Buffett Berkshire Hathaway Chairman and CEO Warren Buffett said Monday the trend towards autonomous driving cars will hurt the auto insurance industry. "Net it will be bad for the auto insurance industry over time if autonomous cars become a big part...