SIOUX FALLS, S.D. – Great Western Bancorp Inc. (GWB) on Tuesday reported fiscal first-quarter profit of $43.3 million.
The Sioux Falls, South Dakota-based bank said it had earnings of 77 cents per share. Earnings, adjusted for amortization costs, came to 78 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The holding company for Great Western Bank posted revenue of $147.3 million in the period. Its revenue net of interest expense was $120.9 million, missing Street forecasts. Three analysts surveyed by Zacks expected $123 million.
Great Western Bancorp shares have fallen 7.5% since the beginning of the year. The stock has fallen roughly 9% in the last 12 months.
