Northwest Bancshares Earnings: Booking a Profit Again

Northwest Bancshares Inc. (NASDAQ:NWBI) reported its results for the third quarter. Northwest Bancshares is a federal savings and loan holding company which, through its subsidiary Northwest Savings Bank, offers traditional deposit and loan products.

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Northwest Bancshares Inc. Earnings Cheat Sheet

Results: Net income for Northwest Bancshares Inc. fell to $15.7 million (17 cents per share) vs. $16.7 million (17 cents per share) a year earlier. This is a decline of 6.1% from the year-earlier quarter.

Actual vs. Wall St. Expectations: Northwest Bancshares Inc. fell in line with the mean analyst estimate of 17 cents per share.
Quoting Management: “We are pleased to have maintained a stable net interest margin of approximately 3.65% over the past year despite ongoing economic uncertainty and the challenges of the prolonged low interest rate environment. Largely contributing to this success was a $177 million, or 3.2%, increase in our loan portfolio over the past nine months.”

Key Stats: After missing the mark in the previous two quarters, the company met analyst estimates. In the second quarter, it fell short by one cent, and in the first quarter, it was under-estimate by one cent.

Net income has increased 3.6% year-over-year on average across the last five quarters. The biggest gain came in the fourth quarter of the last fiscal year, when income climbed 19.1% from the year-earlier quarter.

Looking Forward: The average estimate for the fourth quarter is steady at 17 cents a share. For the fiscal year, the average estimate has moved down from 68 cents a share to 66 cents over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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