Regional banking company Northwest Bancshares (NASDAQ: NWBI) will be announcing earnings results this Monday afternoon. Here’s what to expect.
Northwest Bancshares beat analysts’ revenue expectations last quarter, reporting revenues of $175.1 million, up 12.1% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates.
Is Northwest Bancshares a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Northwest Bancshares’s revenue to grow 19.1% year on year, improving from the 9.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Northwest Bancshares rarely misses Wall Street’s revenue estimates.
Looking at Northwest Bancshares’s peers in the banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Ladder Capital delivered year-on-year revenue growth of 2.4%, beating analysts’ expectations by 3.3%, and Flagstar Financial reported revenues up 3.2%, falling short of estimates by 5.8%. Ladder Capital’s stock price was unchanged following the results.
Read our full analysis of Ladder Capital’s results here and Flagstar Financial’s results here.
Investors in the banks segment have had steady hands going into earnings, with share prices flat over the last month. Northwest Bancshares is up 2.1% during the same time and is heading into earnings with an average analyst price target of $15 (compared to the current share price of $15.45).
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