$127.93 million in sales expected for Northwest Bancshares, Inc. (NASDAQ:NWBI) this quarter
Brokers expect Northwest Bancshares, Inc. (NASDAQ:NWBI) to report sales of $127.93 million for the current quarter, according to Zacks Investment Research. Four analysts provided earnings estimates for Northwest Bancshares. The lowest sales estimate is $126.70 million and the highest is $129.00 million. Northwest Bancshares reported sales of $135.01 million in the same quarter last year, suggesting a negative 5.2% year-over-year growth rate. The company is expected to release its next quarterly earnings report on Monday, January 24.
According to Zacks, analysts expect Northwest Bancshares to report annual sales of $520.44 million for the current year, with estimates ranging from $512.00 million to $540.36 million. For the next fiscal year, analysts expect the company to post sales of $507.75 million, with estimates ranging from $504.52 million to $510.50 million. Zacks Investment Research’s sell calculations are an average average based on a survey of sell-side research firms that cover Northwest Banc stocks.
Northwest Bancshares (NASDAQ:NWBI) last announced its results on Sunday, October 24. The savings and loan company reported earnings per share (EPS) of $0.27 for the quarter, beating the consensus estimate of $0.22 by $0.05. Northwest Bancshares had a net margin of 27.70% and a return on equity of 10.36%. The company posted revenue of $127.61 million in the quarter, versus analyst estimates of $128.23 million.
Separately, Zacks Investment Research downgraded shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a Wednesday, Jan. 5 research report.
Separately, CFO William W. Harvey sold 11,520 shares in a trade dated Monday, December 6. The shares were sold at an average price of $14.19, for a total value of $163,468.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, CFO William W. Harvey sold 14,400 shares in a trade dated Wednesday, October 27. The stock was sold at an average price of $14.14, for a total transaction of $203,616.00. The disclosure of this sale can be found here. During the last quarter, insiders bought 11,476 shares of the company worth $152,521 and sold 46,304 shares worth $654,323. Company insiders own 0.80% of the company’s shares.
Hedge funds have recently increased or reduced their holdings in the stock. Citigroup Inc. increased its stake in Northwest Bancshares by 307.9% in the second quarter. Citigroup Inc. now owns 73,908 shares of the savings and loan company worth $1,007,000 after buying an additional 55,787 shares last quarter. Stifel Financial Corp increased its stake in shares of Northwest Bancshares by 12.7% during the second quarter. Stifel Financial Corp now owns 229,830 shares in the savings and loan company valued at $3,135,000 after buying an additional 25,872 shares last quarter. US Asset Management LLC bought a new stock position in Northwest Bancshares during the third quarter valued at around $78,000. Renaissance Technologies LLC increased its stake in shares of Northwest Bancshares by 47.2% during the second quarter. Renaissance Technologies LLC now owns 224,614 shares of the savings and loan company valued at $3,064,000 after purchasing an additional 72,021 shares last quarter. Finally, Goldman Sachs Group Inc. increased its equity stake in Northwest Bancshares by 25.8% during the second quarter. Goldman Sachs Group Inc. now owns 1,621,184 shares of the savings and loan company valued at $22,113,000 after buying 332,640 additional shares last quarter. 60.42% of the shares are held by institutional investors.
NASDAQ:NWBI shares opened at $15.01 on Friday. The company has a fifty-day moving average of $14.06 and a 200-day moving average of $13.61. The company has a debt ratio of 0.24, a quick ratio of 0.91 and a current ratio of 0.92. Northwest Bancshares has a 52-week low of $12.37 and a 52-week high of $15.48. The company has a market capitalization of $1.90 billion, a PE ratio of 12.01 and a beta of 0.61.
The company also recently announced a quarterly dividend, which was paid on Monday, November 15. Shareholders of record on Friday, November 5 received a dividend of $0.20 per share. The ex-dividend date was Thursday, November 4. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 5.33%. Northwest Bancshares’ dividend payout ratio is currently 64.00%.
Northwest Bancshares Company Profile
Northwest Bancshares, Inc is a holding company. It offers personal and commercial banking products, including employee benefits, investment management services, insurance and trusts. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.
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