Northwest Bancshares, Inc. (NASDAQ:NWBI) Expected to Announce Quarterly Sales of $122.86 Million

Brokerages expect Northwest Bancshares, Inc. (NASDAQ:NWBIGet Rating) to announce sales of $122.86 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Northwest Bancshares’ earnings, with the lowest sales estimate coming in at $120.00 million and the highest estimate coming in at $125.70 million. Northwest Bancshares reported sales of $150.44 million in the same quarter last year, which indicates a negative year-over-year growth rate of 18.3%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Northwest Bancshares will report full-year sales of $494.90 million for the current financial year, with estimates ranging from $484.00 million to $503.56 million. For the next financial year, analysts anticipate that the company will post sales of $523.82 million, with estimates ranging from $510.00 million to $533.39 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for Northwest Bancshares.

Northwest Bancshares (NASDAQ:NWBIGet Rating) last issued its earnings results on Monday, April 25th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Northwest Bancshares had a return on equity of 9.12% and a net margin of 26.19%.

NWBI has been the topic of a number of research analyst reports. StockNews.com started coverage on Northwest Bancshares in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research cut Northwest Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, April 30th. Finally, Piper Sandler cut Northwest Bancshares from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $14.00 to $12.00 in a research report on Friday, May 6th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.51.

Shares of NWBI stock opened at $12.37 on Thursday. Northwest Bancshares has a 1-year low of $12.04 and a 1-year high of $15.15. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 11.14 and a beta of 0.56. The stock’s fifty day simple moving average is $13.11 and its 200-day simple moving average is $13.74.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Thursday, May 5th were paid a $0.20 dividend. The ex-dividend date was Wednesday, May 4th. This represents a $0.80 annualized dividend and a dividend yield of 6.47%. Northwest Bancshares’s dividend payout ratio is currently 72.07%.

In other Northwest Bancshares news, Director Deborah J. Esq. Chadsey sold 7,200 shares of the company’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $12.50, for a total transaction of $90,000.00. Following the transaction, the director now owns 30,746 shares of the company’s stock, valued at approximately $384,325. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC increased its holdings in Northwest Bancshares by 125.1% during the 1st quarter. CWM LLC now owns 2,530 shares of the savings and loans company’s stock worth $34,000 after purchasing an additional 1,406 shares in the last quarter. Confluence Wealth Services Inc. bought a new position in Northwest Bancshares during the 4th quarter worth about $36,000. Point72 Hong Kong Ltd grew its holdings in shares of Northwest Bancshares by 87.1% in the 3rd quarter. Point72 Hong Kong Ltd now owns 4,787 shares of the savings and loans company’s stock valued at $64,000 after acquiring an additional 2,229 shares in the last quarter. US Asset Management LLC bought a new position in shares of Northwest Bancshares in the 1st quarter valued at about $79,000. Finally, Captrust Financial Advisors grew its holdings in shares of Northwest Bancshares by 97.9% in the 1st quarter. Captrust Financial Advisors now owns 8,984 shares of the savings and loans company’s stock valued at $121,000 after acquiring an additional 4,445 shares in the last quarter. Institutional investors and hedge funds own 61.18% of the company’s stock.

Northwest Bancshares Company Profile (Get Rating)

Northwest Bancshares, Inc operates as the holding company for Northwest Bank, a state-chartered savings bank that provides personal and business banking solutions. The company accepts various deposits, including checking, savings, money market deposit, term certificate, and individual retirement accounts.

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