Webster Financial reports Q1 EPS $1.30, consensus $1.38

Reports Q1 revenue $704.8M, consensus $701.47M. Reports Q1 tangible book value per share $33.97. Reports Q1 CET1 capital ratio 11.26%. Reports Q1 net charge-offs .42%. “While we continue to see solid fundamental strength in our business and clients, market volatility conveys a less certain economic outlook,” said Neal Holland, senior executive vice president and chief financial officer. “To ensure we are prepared for a wider range of economic scenarios, we accordingly increased our allowance for credit losses on loans and leases.”