WATERBURY, Conn. — Webster Financial Corp. (WBS) on Tuesday reported fourth-quarter profit of $69.9 million.
The bank, based in Waterbury, Connecticut, said it had earnings of 73 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The holding company for Webster Bank posted revenue of $271 million in the period.
For the year, the company reported profit of $255.4 million, or $2.67 per share.
Webster Financial shares have increased slightly more than 4 percent since the beginning of the year. The stock has risen 12 percent in the last 12 months.
Elements of this story were 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
This story has been adjusted to correct revenue and remove reference to adjusted profit. Webster’s net income beat the average analyst estimate.