Webster Financial (WBS) Tops Q1 EPS by 5c

Webster Financial (NYSE: WBS) reported Q1 EPS of $0.62, $0.05 better than the analyst estimate of $0.57. Revenue for the quarter came in at $255.7 million versus the consensus estimate of $190.89 million.

Highlights for the first quarter of 2017 compared to the first quarter of 2016:

• Revenue of $255.7 million, an increase of 7.3 percent, including a record level of net interest income of $192.7 million, and non-interest income of $63.0 million.
• Loan growth of $1.2 billion, or 7.8 percent, with growth of $1.1 billion in commercial and commercial real estate loans.
• Deposit growth of $1.5 billion, or 8.1 percent, with growth of $1.2 billion in health savings account and transactional deposits.
• Net charge-off ratio of 0.13 percent.
• Annualized return on average tangible common shareholders\' equity (non-GAAP) of 12.47 percent.
• Net interest margin of 3.22 percent, up 11 basis points.
• Effective tax rate of 27 percent benefited from an accounting change.

For earnings history and earnings-related data on Webster Financial (WBS) click here.

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