Overview

* Webster Financial ( WBS ) Q2 revenue of $715.8 mln beats analyst expectations, per LSEG data

* Net income applicable to common stockholders rose to $251.7 mln from $175.5 mln

* Provision for credit losses decreased to $46.5 mln from $77.5 mln last qtr

Outlook

* Company maintains strong operating position, investing for future growth

* Webster sees improved asset quality metrics, positive for future performanc

Result Drivers

* REVENUE GROWTH - Webster's revenue increased to $715.8 million, surpassing analyst expectations, driven by higher net interest income and improved asset quality metrics

* CREDIT LOSS REDUCTION - Provision for credit losses decreased to $46.5 million, reflecting improved credit management

* ASSET QUALITY IMPROVEMENT - Webster's asset quality metrics improved, with decreased non-performing loans and leases, contributing to stronger financial results

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $715.80 $641.10

Revenue mln mln (11

Analysts

)

Q2 EPS $1.52

Q2 Net $621.20

Interest mln

Income

Q2 CET1 11.3%

Capital

Ratio

Q2 $46.50

Credit mln

Loss

Provisio

n

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for Webster Financial Corp ( WBS ) is $65.00, about 10.1% above its July 16 closing price of $58.44

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)