U.S. Markets open in 1 hr 32 mins

Webster Financial beats 3Q profit forecasts

WATERBURY, Conn. (AP) _ Webster Financial Corp. (WBS) on Thursday reported third-quarter profit of $64.5 million.

The Waterbury, Connecticut-based bank said it had earnings of 67 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.

The holding company for Webster Bank posted revenue of $296.9 million in the period. Its adjusted revenue was $266.8 million, falling short of Street forecasts. Six analysts surveyed by Zacks expected $269 million.

Webster Financial shares have fallen almost 3 percent since the beginning of the year. The stock has climbed 41 percent in the last 12 months.


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