Northwest BancsharesNASDAQ: NWBI

Northwest Bancshares Inc. (NASDAQ:NWBI ) Q3 2024 Results Conference Call October 29, 2024 9:00 AM ET Company Participants Joseph Canfield - Executive Vice President, Chief Accounting Officer Louis Torchio - President, CEO & Director Doug Schosser - Chief Financial Officer Thomas Creal - Executive VP & Chief Credit Officer Conference Call Participants Daniel Tamayo - Raymond James Manuel Navas - D.A. Davidson Matthew Breese - Stephens Inc Frank Schiraldi - Piper Sandler Daniel Cardenas - Janney Montgomery Scott Operator Thank you for standing by.

The headline numbers for Northwest Bancshares (NWBI) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

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 remain ed stable Noninterest expense declines $2 million due to disciplined expense management 120th consecutive quarterly dividend of $0.20 per share declared COLUMBUS, Ohio , Oct. 29, 2024 /PRNewswire/ -- Northwest Bancshares, Inc., (the "Company"), (NasdaqGS: NWBI) announced net income for the quarter ended September 30, 2024 of $34 million, or $0.26 per diluted share. This represents a decrease of $5 million compared to the same quarter last year, when net income was $39 million, or $0.31 per diluted share, and an increase of $29 million compared to the prior quarter, when net income was $5 million, or $0.04 per diluted share.

Northwest Bancshares remains a 'hold' as its performance is expected to match the broader market. Despite a 7.6% rise in net interest income, non-interest income fell significantly due to one-time losses, impacting overall profitability. The bank's balance sheet shows minimal growth in deposits and a decline in loans, with a mixed asset quality and higher-than-preferred price to earnings multiple.

COLUMBUS, Ohio , Oct. 8, 2024 /PRNewswire/ -- Northwest Bancshares, Inc. (NASDAQ: NWBI) will host a conference call to review third-quarter 2024 financial results on Tuesday, October 29 at 9:00 a.m. (EDT). The results are scheduled to be released at approximately 7:30 a.m.

Northwest Bancshares (NWBI) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Northwest Bancshares (NWBI) came out with quarterly earnings of $0.27 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.27 per share a year ago.

COLUMBUS, Ohio , July 12, 2024 /PRNewswire/ -- will host a conference call to review second-quarter 2024 financial results on Tuesday, July 23 at 9:00 a.m. (EDT). The results are scheduled to be released at approximately 7:00 a.m.

Interest rate cuts will pressurize the margin, which will, in turn, pressurize earnings. I'm expecting earnings to dip by 13% to $0.92 per share this year. NWBI is currently offering a dividend yield of around 6.9%. My earnings projections suggest that the dividend payout is unlikely to be cut.