Webster Financial: Q4 Earnings Snapshot

STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Webster Financial Corp. (WBS) on Tuesday reported fourth-quarter net income of $185.4 million.

The Stamford, Connecticut-based bank said it had earnings of $1.05 per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to $1.46 per share.

The results met Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of $1.46 per share.

The holding company for Webster Bank posted revenue of $997 million in the period. Its revenue net of interest expense was $634.8 million, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $674.8 million.

For the year, the company reported profit of $867.8 million, or $4.91 per share. Revenue was reported as $2.65 billion.

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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