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Webster Financial: 2Q Earnings Snapshot

July 18, 2019

WATERBURY, Conn. (AP) _ Webster Financial Corp. (WBS) on Thursday reported second-quarter profit of $98.6 million.

The bank, based in Waterbury, Connecticut, said it had earnings of $1.05 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.

The holding company for Webster Bank posted revenue of $368.8 million in the period. Its revenue net of interest expense was $317.6 million, also beating Street forecasts. Seven analysts surveyed by Zacks expected $314.2 million.

Webster Financial shares have decreased 4% since the beginning of the year. The stock has declined 27% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WBS at https://www.zacks.com/ap/WBS

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