Northwest Bancshares, Inc. Second Quarter Earnings Sneak Peek

Northwest Bancshares, Inc. (NASDAQ:NWBI) will unveil its latest earnings on Monday, July 18, 2011. Northwest Bancshares Inc MD is a federal savings and loan holding company, which through its subsidiary Northwest Savings Bank offers traditional deposit and loan products.

Northwest Bancshares, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 16 cents per share, a rise of 6.7% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged and it has not changed during the last month. For the year, analysts are projecting net income of 66 cents per share, a rise of 24.5% from last year.

Past Earnings Performance: The company beat estimates last quarter after falling short in the prior two. In the first quarter, the company reported profit of 16 cents per share versus a mean estimate of net income of 15 cents per share. In the fourth quarter of the last fiscal year, the company missed estimates by 3 cents.

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Wall St. Revenue Expectations: On average, analysts predict $72.9 million in revenue this quarter, a rise of 14.4% from the year ago quarter. Analysts are forecasting total revenue of $292.5 million for the year, a rise of 13.5% from last year’s revenue of $257.6 million.

Analyst Ratings: Analysts are bullish on Northwest Bancshares as three analysts rate it as a buy, none rate it as a sell and three rate it as a hold.

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 31.2% while it rose sharply in the fourth quarter of the last fiscal year and 28.5% in the third quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 11.1% to $119 million in first quarter. The figure rose 1.7% in the fourth quarter of the last fiscal year from the year earlier, climbed 2.8% in the third quarter of the last fiscal year from the year-ago quarter and 0.9% in the second quarter of the last fiscal year.

Competitors to Watch: New York Community Bancorp, Inc. (NYSE:NYB), Parkvale Financial Corp. (NASDAQ:PVSA), Prudential Bancorp, Inc. of PA (NASDAQ:PBIP), Malvern Federal Bancorp, Inc. (NASDAQ:MLVF), WVS Financial Corp. (NASDAQ:WVFC), Oneida Financial Corp. (NASDAQ:ONFC), Hudson City Bancorp, Inc. (NASDAQ:HCBK), Berkshire Hills Bancorp, Inc. (NASDAQ:BHLB), Harleysville Savings Financial Corp. (NASDAQ:HARL), Citigroup (NYSE:C), Bank of America Corp. (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC), Morgan Stanley (NYSE:MS), Barclays PLC (NYSE:BCS), Goldman Sachs Group, Inc. (NYSE:GS), U.S. Bancorp (NYSE:USB), UBS AG (NYSE:UBS), Deutsche Bank AG (NYSE:DB), and Royal Bank of Scotland Group plc (NYSE:RBS).

Stock Price Performance: During June 13, 2011 to July 12, 2011, the stock price had risen 94 cents (7.9%) from $11.96 to $12.90. The stock price saw one of its best stretches over the last year between February 16, 2011, and February 24, 2011, when shares rose for six-straight days, rising 4.5% (+54 cents) over that span. Shares have been on a negative streak of late, closing down every day between July 11, 2011 and July 12, 2011. Shares are up $1.32 (+11.4%) year to date.

(Source: Xignite Financials)

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