STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Webster Financial Corp. (WBS) on Tuesday reported second-quarter profit of $256.8 million.
The bank, based in Stamford, Connecticut, said it had earnings of $1.56 per share. Earnings, adjusted for non-recurring costs, came to $1.60 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.
The holding company for Webster Bank posted revenue of $1.12 billion in the period. Its revenue net of interest expense was $740 million, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $749.3 million.
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