Northwest Bancshares, Inc. (NASDAQ:NWBI ) Q4 2024 Earnings Conference Call January 24, 2025 10:00 AM ET Company Participants Michael Perry - Managing Director, Corporate Strategy and Development and Investor Relations Louis Torchio - President and CEO Doug Schosser - Chief Financial Officer Thomas Creal - Chief Credit Officer Conference Call Participants Tim Switzer - KBW Daniel Tamayo - Raymond James Matthew Breese - Stephens, Inc. Daniel Cardenas - Janney Montgomery Scott Operator Good morning, thank you for joining us, and welcome to Northwest Bancshares Fourth Quarter 2024 Earnings Call. This session is being recorded, and a playback will be available on our Investor Relations website.
While the top- and bottom-line numbers for Northwest Bancshares (NWBI) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Adjusted net income (non-GAAP) of $35 million , or $0.27 per diluted share Net interest margin expands 9 basis points to 3.42%, inclusive of 6bps from an interest recovery Efficiency ratio improved to 61.8% 121st consecutive quarterly dividend of $0.20 per share declared COLUMBUS, Ohio , Jan. 24, 2025 /PRNewswire/ -- Northwest Bancshares, Inc., (the "Company"), (Nasdaq: NWBI) announced net income for the quarter ended December 31, 2024 of $33 million, or $0.26 per diluted share. This represents an increase of $4 million compared to the same quarter last year, when net income was $29 million, or $0.23 per diluted share, and a decrease of $1 million compared to the prior quarter, when net income was $34 million, or $0.26 per diluted share.
Evaluate the expected performance of Northwest Bancshares (NWBI) for the quarter ended December 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
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.
I'm initiating coverage of Northwest Bancshares with a buy rating, more bullish than today's consensus calling for a hold. With a recent acquisition of another regional bank, and growth in commercial loans, it is a regional with growth prospects. Its dividend yield just over 6% beats similar peers.
Northwest Bancshares (NWBI) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
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.