COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — Northwest Bancshares Inc. (NWBI) on Monday reported first-quarter profit of $50.5 million.
The Columbus, Ohio-based company said it had net income of 34 cents per share. Earnings, adjusted for one-time gains and costs, came to 35 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.
The holding company for Northwest Savings Bank posted revenue of $234.1 million in the period. Its adjusted revenue was $175.1 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $173.6 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NWBI at https://www.zacks.com/ap/NWBI
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