BUZZ-Webster Financial rises after Q4 profit beats expectation

Shares of regional lender Webster Financial WBS.N rise as much as 4.2%; last up 2.9% at $59.62

WBS posts Q4 adjusted profit of $1.43/shr, topping Wall Street expectations of $1.35/shr - data compiled by LSEG

Q4 net interest income of $608.5 mln was ahead of estimates of $599.5 mln, thanks to lower deposit costs and higher securities portfolio yields

Piper Sandler says it was a very strong quarter for the company, adding that WBS is continuing to earn the right to trade at a higher multiple

Meanwhile, WBS expects 2025 NII to be between $2.45 bln and $2.50 bln, compared with Street expectation of $2.48 bln

WBS stock jumped 8.8% in 2024

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))