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Northwest Bancshares (NWBI) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2023, Northwest Bancshares (NWBI - Free Report) reported revenue of $139.26 million, down 0.2% over the same period last year. EPS came in at $0.31, compared to $0.29 in the year-ago quarter.
The reported revenue represents a surprise of +2.92% over the Zacks Consensus Estimate of $135.31 million. With the consensus EPS estimate being $0.25, the EPS surprise was +24.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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 [%]: 62.9% compared to the 62.8% average estimate based on three analysts.
Net interest margin: 3.2% compared to the 3.2% average estimate based on three analysts.
Average Balances-Interest earning assets: $13.41 billion versus the three-analyst average estimate of $13.44 billion.
Total Noninterest Income: $30.89 million compared to the $28.26 million average estimate based on three analysts.
Mortgage Banking Income: $0.63 million compared to the $1.01 million average estimate based on three analysts.
Trust and other financial services income: $7.09 million versus $7 million estimated by two analysts on average.
Other Operating Income: $3.01 million compared to the $3.39 million average estimate based on two analysts.
Service Charges and Fees: $15.27 million versus the two-analyst average estimate of $14.77 million.
Net Interest Income: $108.37 million versus the two-analyst average estimate of $106.92 million.
Income from Bank owned life insurance: $4.56 million compared to the $1.17 million average estimate based on two analysts.
Shares of Northwest Bancshares have returned +4.2% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Northwest Bancshares (NWBI) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Northwest Bancshares (NWBI - Free Report) reported revenue of $139.26 million, down 0.2% over the same period last year. EPS came in at $0.31, compared to $0.29 in the year-ago quarter.
The reported revenue represents a surprise of +2.92% over the Zacks Consensus Estimate of $135.31 million. With the consensus EPS estimate being $0.25, the EPS surprise was +24.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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 [%]: 62.9% compared to the 62.8% average estimate based on three analysts.
- Net interest margin: 3.2% compared to the 3.2% average estimate based on three analysts.
- Average Balances-Interest earning assets: $13.41 billion versus the three-analyst average estimate of $13.44 billion.
- Total Noninterest Income: $30.89 million compared to the $28.26 million average estimate based on three analysts.
- Mortgage Banking Income: $0.63 million compared to the $1.01 million average estimate based on three analysts.
- Trust and other financial services income: $7.09 million versus $7 million estimated by two analysts on average.
- Other Operating Income: $3.01 million compared to the $3.39 million average estimate based on two analysts.
- Service Charges and Fees: $15.27 million versus the two-analyst average estimate of $14.77 million.
- Net Interest Income: $108.37 million versus the two-analyst average estimate of $106.92 million.
- Income from Bank owned life insurance: $4.56 million compared to the $1.17 million average estimate based on two analysts.
View all Key Company Metrics for Northwest Bancshares here>>>Shares of Northwest Bancshares have returned +4.2% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.