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Webster Financial: Q3 Earnings Snapshot
STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Webster Financial Corp. (WBS) on Thursday reported third-quarter profit of $226.5 million.
The bank, based in Stamford, Connecticut, said it had earnings of $1.28 per share. Earnings, adjusted for costs related to mergers and acquisitions, were $1.55 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.
The holding company for Webster Bank posted revenue of $1.02 billion in the period. Its revenue net of interest expense was $677.5 million, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $691.3 million.