Northwest Bancshares down after Q1 profit falls

Northwest Bancshares

25/04/2022 17:27

** Shares of Northwest Bancshares Inc  NWBI.O  fall as much
as 3% to $12.85 after Q1 profit falls
    ** Stock last down 2.9%, on course for second straight
session of losses
    ** Q1 net income fell to $28.3 mln, or 22 cents per share,
from $40.2 mln, or 32 cents per share, a year earlier
 urn:newsml:reuters.com:*:nPn4mTWdsa
    ** Net interest income fell to $90.6 mln from $100.5 mln a
year earlier
    ** Co also says its board declared a quarterly cash dividend
of 20 cents per share 
    ** CEO Ronald Seiffert says during the quarter, net interest
income and net interest margin were once again impacted by low
interest rate environment and excess balance sheet liquidity
    ** Stock down ~9% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com))