Northwest Bancshares Q3 adjusted EPS beats estimates on C&I loan growth

Overview

• US regional bank's Q3 adjusted EPS was $0.35, beating analyst expectations

• Company posted record total revenue and net interest income, up 9.5% yr/yr

• Results driven by 31% C&I loan growth and Penns Woods Bancorp acquisition

Outlook

• Northwest Bancshares anticipates a strong finish to Q4 2026

• Company expects continued growth in Columbus and across its retail and commercial network

Result Drivers

• C&I LOAN GROWTH - Co said 31% yr/yr average growth in commercial and industrial loans drove results

• PENNS WOODS ACQUISITION - Co said Penns Woods Bancorp acquisition boosted average interest-earning assets and contributed to net interest income growth

• LOW DEPOSIT COSTS - Co attributed results to strength of retail deposit franchise and low deposit costs

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy."

• Wall Street's median 12-month price target for Northwest Bancshares Inc is $16.00, about 3.4% above its October 23 closing price of $15.48

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads

• Oct 26 - Business First Bancshares Q3 net income rises on loan and deposit growth

• Oct 26 - Lakeland Financial Q3 net income rises on commercial loan growth

• Oct 26 - Bank of Marin Bancorp Q3 profit beats estimates on higher loan yields

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)