Regional banking company Northwest Bancshares (NASDAQ: NWBI) will be reporting results this Monday after market close. Here’s what to expect.
Northwest Bancshares met analysts’ revenue expectations last quarter, reporting revenues of $173.5 million, up 14.4% year on year. It was a satisfactory 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 11.2% year on year, slowing from the 19% 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 to stay the course heading into earnings. Northwest Bancshares has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Northwest Bancshares’s peers in the thrifts & mortgage finance segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Flagstar Financial delivered year-on-year revenue growth of 1.6%, missing analysts’ expectations by 9.9%, and WaFd Bank reported revenues up 10.5%, topping estimates by 4%. WaFd Bank traded up 8.4% following the results.
Read our full analysis of Flagstar Financial’s results here and WaFd Bank’s results here.
There has been positive sentiment among investors in the thrifts & mortgage finance segment, with share prices up 8.6% on average over the last month. Northwest Bancshares is up 6.9% during the same time and is heading into earnings with an average analyst price target of $13.86 (compared to the current share price of $13.28).
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