Northwest Bancshares, Inc. (NASDAQ: NWBI) to report earnings of $ 0.22 per share
Analysts expect Northwest Bancshares, Inc. (NASDAQ: NWBI) to post earnings per share (EPS) of $ 0.22 for the current quarter, Zacks reports. Four analysts provided earnings estimates for Northwest Bancshares, with the highest EPS estimate being $ 0.24 and the lowest estimate being $ 0.20. Northwest Bancshares posted earnings of $ 0.29 per share in the same quarter last year, suggesting a negative year-over-year growth rate of 24.1%. The company is expected to release its next quarterly results on Monday, January 24.
On average, analysts expect Northwest Bancshares to report annual earnings of $ 1.08 per share for the current year, with EPS estimates ranging from $ 0.97 to $ 1.29. For the next fiscal year, analysts predict the company will report earnings of $ 0.85 per share, with EPS estimates ranging from $ 0.70 to $ 1.00. Zacks’ earnings per share calculations are an average based on a survey of analysts who follow Northwest Bancshares.
Northwest Bancshares (NASDAQ: NWBI) last reported its quarterly results on Sunday, October 24. The savings and loan company reported $ 0.27 of EPS for the quarter, beating the Zacks’ consensus estimate by $ 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 for the quarter, compared to a consensus estimate of $ 128.23 million.
Meanwhile, Zacks Investment Research upgraded Northwest Bancshares shares from a “strong sell” rating to a “conservation” rating in a research note on Thursday, October 28.
In other Northwest Bancshares news, director Timothy M. Hunter bought 10,000 shares in a trade on Tuesday, November 30. The shares were purchased at an average price of $ 13.26 per share, for a total value of $ 132,600.00. The transaction was disclosed in a legal file with the SEC, which is available on the SEC’s website. In addition, CFO William W. Harvey sold 11,520 shares of the company in a trade on Monday, December 6. The shares were sold at an average price of $ 14.19, for a total trade of $ 163,468.80. Disclosure of this sale can be found here. During the last quarter, insiders bought 11,476 shares of the company valued at $ 152,521 and sold 46,304 shares valued at $ 654,323. 0.80% of the shares are held by insiders of the company.
Several institutional investors and hedge funds have recently bought and sold shares in the company. Vanguard Group Inc. increased its holdings of Northwest Bancshares shares by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 13,577,185 shares of the savings and loan company valued at $ 185,192,000 after purchasing an additional 471,301 shares in the last quarter. State Street Corp increased its holdings in Northwest Bancshares by 4.0% in the 2nd quarter. State Street Corp now owns 4,797,835 shares of the savings and loan company valued at $ 65,442,000 after acquiring an additional 183,058 shares in the last quarter. Invesco Ltd. increased its holdings in Northwest Bancshares by 30.5% in the 3rd quarter. Invesco Ltd. now owns 3,945,871 shares of the savings and loan company valued at $ 52,401,000 after acquiring an additional 921,659 shares during the last quarter. Geode Capital Management LLC increased its stake in Northwest Bancshares by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,403,409 shares of the savings and loan company valued at $ 32,782,000 after acquiring an additional 93,850 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Northwest Bancshares by 8.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,234,144 shares of the savings and loan company valued at $ 30,474,000 after acquiring an additional 183,321 shares in the last quarter. 61.39% of the shares are currently held by institutional investors and hedge funds.
Shares of NWBI opened at $ 14.00 on Friday. The company’s 50-day mobile average price is $ 13.93, and its 200-day mobile average price is $ 13.56. Northwest Bancshares has a 52-week low of $ 12.37 and a 52-week high of $ 15.48. The company has a market cap of $ 1.78 billion, a PE ratio of 11.20 and a beta of 0.60. The company has a debt ratio of 0.24, a quick ratio of 0.91, and a current ratio of 0.92.
The company also recently announced a quarterly dividend, which was paid on Monday, November 15. Investors of record on Friday, November 5 received a dividend of $ 0.20 per share. This represents an annualized dividend of $ 0.80 and a return of 5.71%. The ex-dividend date was Thursday, November 4. Northwest Bancshares’ payout ratio is currently 64.00%.
About Northwest Bancshares
Northwest Bancshares, Inc is a holding company. It offers banking products to individuals and businesses, including employee benefits, investment management services, insurance and trusts. It collects deposits and grants loans secured by various types of collateral, including real estate and other assets.
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