BRIDGEPORT, Conn. (AP) _ People's United Financial Inc. (PBCT) on Thursday reported third-quarter earnings of $135.1 million.
On a per-share basis, the Bridgeport, Connecticut-based company said it had profit of 33 cents. Earnings, adjusted for costs related to mergers and acquisitions, came to 34 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The holding company for People's United Bank posted revenue of $576.9 million in the period. Its adjusted revenue was $454.7 million, missing Street forecasts. Three analysts surveyed by Zacks expected $455.5 million.
People's United shares have increased 9% since the beginning of the year, while the Standard & Poor's 500 index has risen 20%. In the final minutes of trading on Thursday, shares hit $15.74, a drop of nearly 4% in the last 12 months.