Webster Financial (WBS) Tops Q2 EPS by 4c, Beats on Revenues

Webster Financial (NYSE: WBS) reported Q2 EPS of $0.64, $0.04 better than the analyst estimate of $0.60. Revenue for the quarter came in at $262.5 million versus the consensus estimate of $195.91 million.

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

• Record earnings applicable to common shareholders of $59.5 million.
• Revenue of $262.5 million, an increase of 8.5 percent, including net interest income of $197.8 million, a record level, and non-interest income of $64.6 million.
• Loan growth of $1.0 billion, or 6.2 percent, with growth of $899 million in commercial and commercial real estate loans.
• Deposit growth of $1.6 billion, or 8.7 percent, with growth of $1.0 billion in health savings account and transactional deposits.
• Annualized return on common shareholders' equity of 9.63 percent
• Annualized return on average tangible common shareholders' equity (non-GAAP) of 12.65 percent.
• Net interest margin of 3.27 percent, up 19 basis points.

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

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