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Webster Financial Reports Strong Q1 Earnings
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Webster Financial Reports Strong Q1 Earnings
Webster Financial Corp (NYSE:WBS) reported EPS of $0.36, beating the consensus estimate for $0.29 per share. Revenue for the quarter was up 6.1% year-over-year to $139.45 million, beating the consensus estimate for $137.67 million.Webster Chairman and Chief Executive Officer James C. Smith said, "Webster’s operating performance continues to improve. Higher earnings for the quarter were driven primarily by further improvement in asset quality along with a higher net interest margin and higher level of interest-earning assets, including growth in business lending. The growth in deposits reflects our focus on expanding relationships in multiple lines of business."Shares of Webster Financial are trading up 1.22% at $21.49.
Video Length: 0
Date Found: April 15, 2011
Date Produced: April 15, 2011
View Count: 0
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