Northwest Bancshares (NWBI - Free Report) reported $131.2 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 3.8%. EPS of $0.23 for the same period compares to $0.28 a year ago.
The reported revenue represents a surprise of -1.20% over the Zacks Consensus Estimate of $132.8 million. With the consensus EPS estimate being $0.23, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Northwest Bancshares performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio [%]: 68.6% versus 66.3% estimated by three analysts on average.
- Net interest margin: 3.1% versus the three-analyst average estimate of 3.1%.
- Average Balances-Interest earning assets: $13.49 billion versus $13.55 billion estimated by three analysts on average.
- Total Noninterest Income: $27.96 million compared to the $28.08 million average estimate based on three analysts.
- Net Interest Income: $103.24 million compared to the $104.18 million average estimate based on two analysts.
- Trust and other financial services income: $7.13 million versus $7.01 million estimated by two analysts on average.
- Mortgage Banking Income: $0.45 million versus the two-analyst average estimate of $0.20 million.
- Service Charges and Fees: $15.52 million versus the two-analyst average estimate of $15.54 million.
- Other Operating Income: $2.43 million versus the two-analyst average estimate of $2.43 million.
- Income from Bank owned life insurance: $1.50 million versus $1.24 million estimated by two analysts on average.
View all Key Company Metrics for Northwest Bancshares here>>>Shares of Northwest Bancshares have returned +0.3% over the past month versus the Zacks S&P 500 composite's -4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Northwest Bancshares (NWBI - Free Report) reported $131.2 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 3.8%. EPS of $0.23 for the same period compares to $0.28 a year ago.
The reported revenue represents a surprise of -1.20% over the Zacks Consensus Estimate of $132.8 million. With the consensus EPS estimate being $0.23, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Northwest Bancshares performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio [%]: 68.6% versus 66.3% estimated by three analysts on average.
- Net interest margin: 3.1% versus the three-analyst average estimate of 3.1%.
- Average Balances-Interest earning assets: $13.49 billion versus $13.55 billion estimated by three analysts on average.
- Total Noninterest Income: $27.96 million compared to the $28.08 million average estimate based on three analysts.
- Net Interest Income: $103.24 million compared to the $104.18 million average estimate based on two analysts.
- Trust and other financial services income: $7.13 million versus $7.01 million estimated by two analysts on average.
- Mortgage Banking Income: $0.45 million versus the two-analyst average estimate of $0.20 million.
- Service Charges and Fees: $15.52 million versus the two-analyst average estimate of $15.54 million.
- Other Operating Income: $2.43 million versus the two-analyst average estimate of $2.43 million.
- Income from Bank owned life insurance: $1.50 million versus $1.24 million estimated by two analysts on average.
View all Key Company Metrics for Northwest Bancshares here>>>Shares of Northwest Bancshares have returned +0.3% over the past month versus the Zacks S&P 500 composite's -4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
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