logo
Share SHARE
FONT-SIZE Plus   Neg

Webster Q3 Profit Up, Matches Estimates - Quick Facts

Webster Financial Corp. (WBS), the holding company for Webster Bank, N.A., Friday reported a slight increase in net income for the third quarter, with an increase in net interest income. Earnings per share matched the Street estimates.

Net income available to shareholders was $44.6 million or $0.49 per share, compared with $44.3 million or $0.48 per share during the same quarter last year.

On average, sixteen analysts polled by Thomson Reuters expected earnings per share of $0.49 for the quarter. Analysts' estimates typically exclude one-time items.

Net interest income for the quarter increased to $149.9 million, from prior year's $144.8 million. The Street expected the company to generate revenues of $149.73 million for the quarter.

"Notable milestones in the quarter included record net interest income once again and stellar performance in our health savings account business whose footings crossed $2 billion. Looking ahead, our strong commercial loan pipeline bodes well for the region's economic recovery and future performance." said James Smith, chairman and chief executive officer.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
French car maker Renault SA reported Friday higher profit in its fiscal 2015, with strong growth in automotive profit and revenues. The company announced higher dividend. Looking ahead, for fiscal 2016, Renault expects to increase group revenues at constant exchange rates and improve group operating margin. Shares of Rolls-Royce Holdings Plc were gaining around 13 percent in the morning trading in London after the engine maker reported more-than doubled profit in its fiscal year 2015, with lower one-time items. Underlying earnings were hurt by weakness in Marine markets. Further, the company halved its dividends, and still expects lower revenues next year. German steel giant ThyssenKrupp AG reported a loss in its first quarter, compared to last year's profit as sales and orders were hurt by sharp deterioration in materials businesses. The company said its overall performance in the first quarter was within its full-year forecast corridor. Looking ahead, the company continues to expect higher net income and flat sales for fiscal 2016.
comments powered by Disqus
RELATED NEWS
Trade WBS now with 
Follow RTT