STAMFORD, Conn. (AP) 鈥� STAMFORD, Conn. (AP) 鈥� Webster Financial Corp. (WBS) on Tuesday reported first-quarter earnings of $246.2 million.
The bank, based in Stamford, Connecticut, said it had earnings of $1.50 per share. Earnings, adjusted for non-recurring costs, were $1.57 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.
The holding company for Webster Bank posted revenue of $1.1 billion in the period. Its revenue net of interest expense was $735.9 million, falling short of Street forecasts. Six analysts surveyed by Zacks expected $739.5 million.
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