Northwest Bancshares reports Q3 adjusted EPS 26c, consensus 26c

Compared to the quarter ended September 30, 2023, net interest income increased $3M and net interest margin increased to 3.33% from 3.23% for the quarter ended September 30, 2023. Louis Torchio, President and CEO, added, “Our performance this quarter demonstrates the strength and resilience of our business model. We’ve delivered solid results that underscore our expanding earnings power, driven in large part by improvements in our net interest margin. This positive trajectory reflects our team’s dedication to operational excellence and strategic growth initiatives. As we look ahead, we remain committed to creating long-term value for our shareholders. I’m pleased to announce that for the 120th consecutive quarter, we will be returning our earnings to our shareholders through a $0.20 per share dividend. This consistency in shareholder returns is a testament to our financial stability, performance and our unwavering focus on delivering sustainable growth. We enter the next quarter with confidence, buoyed by our strong performance and the ongoing optimization of our business operations. Our team remains focused on capitalizing on market opportunities while maintaining prudent risk management practices. Northwest is well-positioned to continue driving value for our shareholders, clients and communities in the quarters to come.”