Webster Financial: 2Q Earnings Snapshot
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.