Equities analysts expect Northwest Bancshares, Inc. (NASDAQ:NWBI) to report earnings of $0.28 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Northwest Bancshares’ earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.24. Northwest Bancshares reported earnings of $0.07 per share in the same quarter last year, which would indicate a positive year over year growth rate of 300%. The company is expected to report its next earnings results on Monday, April 26th.
According to Zacks, analysts expect that Northwest Bancshares will report full-year earnings of $1.05 per share for the current financial year, with EPS estimates ranging from $0.94 to $1.20. For the next year, analysts forecast that the company will report earnings of $1.03 per share, with EPS estimates ranging from $0.87 to $1.20. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings data on Sunday, January 24th. The savings and loans company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The company had revenue of $135.01 million for the quarter, compared to analyst estimates of $137.70 million. Northwest Bancshares had a net margin of 11.80% and a return on equity of 7.20%.
Separately, B. Riley raised their price target on shares of Northwest Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, January 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $12.33.
In other news, EVP Julia W. Mctavish sold 47,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $14.55, for a total value of $683,850.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO William W. Harvey sold 5,089 shares of the firm’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $13.37, for a total transaction of $68,039.93. Following the completion of the sale, the chief financial officer now owns 175,488 shares in the company, valued at $2,346,274.56. The disclosure for this sale can be found here. Over the last three months, insiders acquired 17,485 shares of company stock worth $238,624 and sold 79,376 shares worth $1,123,809. 1.20% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its stake in shares of Northwest Bancshares by 3,239.7% in the 4th quarter. Meeder Asset Management Inc. now owns 1,937 shares of the savings and loans company’s stock valued at $25,000 after purchasing an additional 1,879 shares in the last quarter. Valley Brook Capital Group acquired a new stake in shares of Northwest Bancshares in the 4th quarter valued at approximately $33,000. Veriti Management LLC acquired a new stake in shares of Northwest Bancshares in the 4th quarter valued at approximately $70,000. Jane Street Group LLC acquired a new stake in Northwest Bancshares during the 3rd quarter worth approximately $116,000. Finally, Paloma Partners Management Co acquired a new stake in Northwest Bancshares during the 3rd quarter worth approximately $119,000. Institutional investors own 61.77% of the company’s stock.
Shares of NWBI opened at $14.27 on Monday. Northwest Bancshares has a fifty-two week low of $8.52 and a fifty-two week high of $15.48. The firm has a market capitalization of $1.81 billion, a PE ratio of 25.48 and a beta of 0.68. The company’s 50-day moving average is $14.67 and its 200-day moving average is $12.80. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.99 and a quick ratio of 0.99.
The company also recently announced a quarterly dividend, which was paid on Monday, February 15th. Shareholders of record on Thursday, February 4th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.33%. The ex-dividend date was Wednesday, February 3rd. Northwest Bancshares’s dividend payout ratio is currently 72.38%.
About Northwest Bancshares
Northwest Bancshares, Inc operates as a holding company for Northwest Bank that offers various personal and business banking solutions. The company accepts various deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts. Its loan products include one-to-four family residential real estate, short-term consumer, multi-family residential and commercial real estate, commercial business, and residential mortgage loans; home equity lines of credit; and consumer loans comprising automobile, sales finance, unsecured personal, and credit card loans, as well as loans secured by deposit accounts.
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