Northwest Bancshares Inc. (NWBI) stock surged 5.84% in pre-market trading on Friday, following the company's better-than-expected fourth quarter 2024 earnings results.
The regional bank holding company reported quarterly earnings of $0.27 per share, surpassing analysts' consensus estimate of $0.25 by 8%. Additionally, NWBI posted quarterly sales of $114.20 million, beating the expected $112.22 million by 1.76% and representing a 7.43% year-over-year increase.
The solid results appear to have bolstered investor confidence in NWBI's prospects, driving the stock higher ahead of the market open. With the pre-market rally, Northwest Bancshares is poised to extend its year-to-date gains following a challenging 2024 for regional banks.
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