Webster Financial: Q3 Earnings Snapshot
By AP News
Published - Oct 17, 2024, 07:40 AM ET
Last Updated - Dec 16, 2024, 06:15 PM EST
STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Webster Financial Corp. (WBS) on Thursday reported third-quarter earnings of $193 million.
The bank, based in Stamford, Connecticut, said it had earnings of $1.10 per share. Earnings, adjusted for non-recurring costs, were $1.34 per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.
The holding company for Webster Bank posted revenue of $1.06 billion in the period. Its revenue net of interest expense was $647.6 million, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $673.5 million.