Webster Financial tops Street 4Q forecasts

WATERBURY, Conn. (AP) _ Webster Financial Corp. (WBS) on Thursday reported fourth-quarter earnings of $57.7 million.

The Waterbury, Connecticut-based bank said it had earnings of 60 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The holding company for Webster Bank posted revenue of $282 million in the period. Its adjusted revenue was $255.9 million, which also topped Street forecasts. Five analysts surveyed by Zacks expected $249.9 million.

For the year, the company reported profit of $207.1 million, or $2.16 per share. Revenue was reported as $983.1 million.

Webster Financial shares have fallen roughly 4 percent since the beginning of the year. The stock has climbed 61 percent in the last 12 months.

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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

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