Northwest Bancshares Posts $50.7 Million Q3 Profit, Meets Analyst Estimates

Northwest Bancshares Inc. (NWBI) on Monday reported third-quarter net income of $50.7 million, or 34 cents per share, matching Wall Street expectations. Adjusted earnings, excluding one-time gains and costs, came in at 35 cents per share, in line with the average estimate of five analysts surveyed by Zacks Investment Research. The Columbus, Ohio-based holding company for Northwest Savings Bank posted revenue of $246.1 million for the period. Adjusted revenue totaled $185.7 million, exceeding Street forecasts of $183.9 million from five Zacks-surveyed analysts.