DA Davidson Analysts Decrease Earnings Estimates for Northwest Bancshares, Inc. (NASDAQ:NWBI)

Northwest Bancshares, Inc. (NASDAQ:NWBI) – Equities research analysts at DA Davidson reduced their FY2024 EPS estimates for Northwest Bancshares in a research note issued to investors on Tuesday, April 23rd. DA Davidson analyst M. Navas now anticipates that the savings and loans company will post earnings per share of $0.91 for the year, down from their previous estimate of $1.00. The consensus estimate for Northwest Bancshares’ current full-year earnings is $0.92 per share.

NWBI has been the topic of several other research reports. Piper Sandler dropped their price target on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $12.00 price target (down previously from $13.00) on shares of Northwest Bancshares in a research note on Tuesday.

Northwest Bancshares Trading Down 0.6 %

Shares of Northwest Bancshares stock opened at $10.82 on Thursday. The company’s fifty day simple moving average is $11.25 and its 200-day simple moving average is $11.50. The stock has a market capitalization of $1.38 billion, a PE ratio of 10.50 and a beta of 0.60. Northwest Bancshares has a 1-year low of $9.80 and a 1-year high of $13.07. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.96 and a quick ratio of 0.95.

Northwest Bancshares (NASDAQ:NWBI) last issued its earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.77%. The company had revenue of $188.20 million for the quarter, compared to analysts’ expectations of $132.80 million.

Northwest Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.39%. Northwest Bancshares’s payout ratio is 77.67%.

Institutional Trading of Northwest Bancshares

Several institutional investors and hedge funds have recently modified their holdings of NWBI. SG Americas Securities LLC bought a new stake in shares of Northwest Bancshares during the 3rd quarter valued at $574,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Northwest Bancshares by 40.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 17,021 shares of the savings and loans company’s stock valued at $174,000 after purchasing an additional 4,945 shares during the period. Raymond James & Associates raised its position in shares of Northwest Bancshares by 11.4% during the 3rd quarter. Raymond James & Associates now owns 34,584 shares of the savings and loans company’s stock valued at $354,000 after purchasing an additional 3,540 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Northwest Bancshares during the 3rd quarter valued at $199,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Northwest Bancshares by 6.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,874 shares of the savings and loans company’s stock valued at $694,000 after purchasing an additional 3,961 shares during the period. 66.32% of the stock is currently owned by institutional investors.

About Northwest Bancshares

Northwest Bancshares, Inc operates as the bank 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.