STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Webster Financial Corp. (WBS) on Thursday reported third-quarter earnings of $193 million.
The bank, based in Stamford, Connecticut, said it had earnings of $1.10 per share. Earnings, adjusted for non-recurring costs, were $1.34 per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.
The holding company for Webster Bank posted revenue of $1.06 billion in the period. Its revenue net of interest expense was $647.6 million, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $673.5 million.
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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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