Wall Street analysts forecast that Northwest Bancshares (NWBI) will report quarterly earnings of $0.26 per share in its upcoming release, pointing to a year-over-year increase of 8.3%. It is anticipated that revenues will amount to $141.01 million, exhibiting an increase of 4.1% compared to the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during ...

COLUMBUS, Ohio, Jan. 10, 2025 /PRNewswire/ -- Northwest Bancshares, Inc. (NASDAQ: NWBI) will host a conference call to review fourth quarter 2024 financial results on Friday, January 24 at 10:00 a.m. (EDT). The results are scheduled to be released at approximately 7:30 a.m. (EDT). The live audio webcast and presentation slides will be available on www.northwest.com under Investor Relations, Events & Presentations. Northwest will notify the public that financial results have been issued through a press rele ...

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Northwest Bancshares (NWBI) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the syste ...

COLUMBUS, Ohio, Dec. 17, 2024 /PRNewswire/ -- Northwest Bancshares, Inc. ("Northwest") (NASDAQ: NWBI) the bank holding company for Northwest Bank, and Penns Woods Bancorp, Inc. ("Penns Woods") (NASDAQ: PWOD), the multi-bank holding company of Jersey Shore State Bank and Luzerne Bank,  jointly announced today that they have entered into a definitive Agreement and Plan of Merger ("Agreement") whereby Northwest will acquire Penns Woods in an all-stock transaction valued at approximately $270.4 million. Combini ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 001-34582 | --- | --- | --- | |----------------------------------------------------|------------------------------------- ...

Financial Data and Key Metrics Changes - The company reported net income of $33.6 million or $0.26 per diluted share, with a net interest margin (NIM) expansion of 13 basis points to 3.33% [9] - Noninterest income decreased by $3 million due to losses on equity method investments and lower gains on the sale of SBA loans [10] - Noninterest expense decreased by nearly 2% or approximately $2 million from the second quarter, with an efficiency ratio improving to 64.8% [15] Business Line Data and Key Metrics Changes - Commercial and industrial loans grew by 2.8% quarter-over-quarter and 25.7% year-over-year, while residential mortgages declined by $190 million or 5.5% year-over-year [11] - The commercial real estate portfolio shrank by 1% since last quarter, indicating a shift towards a more desirable loan mix [11] - Loan yields increased to 5.6%, reflecting a focus on commercial banking transformation [11] Market Data and Key Metrics Changes - Deposits remained largely flat since last quarter but grew by 3.2% year-over-year, with the cost of deposits increasing by only 2 basis points [12] - The current cost of deposits stands at 1.78%, which is competitive relative to peers [12] Company Strategy and Development Direction - The company is committed to responsible growth, both organically and through acquisitions, with a focus on enhancing performance and financial standing [6][7] - The leadership team is exploring opportunities in fast-growing markets like Columbus and Indianapolis, considering both acquisitions and de novo strategies [29][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the credit quality environment, anticipating normalization towards long-term averages for charge-offs [24] - The company expects low single-digit loan growth and flat deposits, with a focus on managing deposit costs while balancing client expectations [17] Other Important Information - The company declared a quarterly dividend of $0.20 per share to shareholders of record as of November 8, 2024 [7] - The capital position remains strong with an estimated Tier 1 capital to risk-weighted assets of 13.7% [10] Q&A Session Summary Question: Fee income guidance and future expectations - Management indicated that guidance for 2025 will be provided during the fourth quarter results in January, with expectations for a normalized level of fee income [21][22] Question: Credit quality and charge-off guidance - Management clarified that the increase in normalized net charge-off guidance reflects a long-term trend rather than a specific quarter's expectation [24][25] Question: M&A targets and strategies - The company is focused on opportunities within its four-state footprint, looking for highly accretive deals in growth markets [28][29] Question: Commercial loan growth and regional strengths - Management noted that commercial loan growth is broad-based across new verticals, with expectations for continued growth in C&I lending [32][33] Question: NIM guidance and deposit costs - Management expects deposit costs to trend down next quarter, with a reasonable pricing stance in the market [37][38] Question: Balance sheet restructuring and provisioning - No significant restructuring is planned, but management is always evaluating market opportunities [56] - Provisioning for classified loans is not expected to increase materially for the long-term healthcare portfolio [57]

Northwest Bancshares (NWBI) reported $139.14 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 0.1%. EPS of $0.26 for the same period compares to $0.31 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $140.8 million, representing a surprise of -1.18%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.26. While investors scrutinize revenue and earnings changes year-over-year and how they compare wit ...

Northwest Bancshares (NWBI) came out with quarterly earnings of $0.26 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.31 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this holding company for Northwest Savings Bank would post earnings of $0.23 per share when it actually produced earnings of $0.27, delivering a surprise of 17.39%. Over the last four quarters, the company has surpassed consensus EPS estimates ...

EXHIBIT 99.1 PRESS RELEASE OF NORTHWEST BANCSHARES, INC. EARNINGS RELEASE FOR IMMEDIATE RELEASE Contact: Louis J. Torchio, President and Chief Executive Officer Douglas M. Schosser, Chief Financial Officer (814) 726-2140 Northwest Bancshares, Inc. Announces Third Quarter 2024 net income of $34 million, or $0.26 per diluted share Net interest margin expands 13 basis points to 3.33%, inclusive of 4bps from an interest recovery Average deposits grew $10 million while cost of funds remained stable Noninterest e ...