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

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Adjusted EPS

Beat

$0.35

$0.34 (7 Analysts)

Q3 Net Interest Income

$148.95 mln


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


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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