Webster Financial: 4Q Earnings Snapshot
WATERBURY, Conn. (AP) _ Webster Financial Corp. (WBS) on Thursday reported fourth-quarter profit of $98.8 million.
The bank, based in Waterbury, Connecticut, said it had earnings of $1.05 per share. Earnings, adjusted for pretax gains, came to $1.01 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The holding company for Webster Bank posted revenue of $353.6 million in the period. Its revenue net of interest expense was $310.3 million, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $305.4 million.
For the year, the company reported profit of $360.4 million, or $3.81 per share. Revenue was reported as $1.19 billion.
Webster Financial shares have climbed 10 percent since the beginning of the year. The stock has declined 8 percent in the last 12 months.