Brokers expect Northwest Bancshares, Inc. (NASDAQ:NWBI) to post earnings of $0.22 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made earnings estimates for Northwest Bancshares, with the highest EPS estimate of $0.24 and the lowest estimate of $0.20. Northwest Bancshares posted earnings per share of $0.29 in the same quarter last year, which would indicate a negative 24.1% year-over-year growth rate. The company is expected to release its next earnings report 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 expect the company to post earnings of $0.85 per share, with EPS estimates ranging from $0.70 to $1.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts who follow Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last reported quarterly earnings data on Sunday, October 24. The savings and loan company reported earnings per share of $0.27 for the quarter, beating the Zacks consensus estimate of $0.22 by $0.05. The company posted revenue of $127.61 million for the quarter, versus $128.23 million expected by analysts. Northwest Bancshares had a net margin of 27.70% and a return on equity of 10.36%.
Separately, Zacks Investment Research cut shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a Wednesday, Jan. 5, report.
Separately, CFO William W. Harvey sold 14,400 shares in a trade that took place on Wednesday, October 27. The shares were sold at an average price of $14.14, for a total transaction of $203,616.00. The sale was disclosed in an SEC filing, available at the SEC website. Additionally, CFO William W. Harvey sold 11,520 shares in a trade that took place on Monday, December 6. The shares were sold at an average price of $14.19, for a total transaction of $163,468.80. 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.
A number of institutional investors and hedge funds have recently increased or reduced their stakes in the company. Carroll Financial Associates Inc. increased its position in Northwest Bancshares by 26.7% in the fourth quarter. Carroll Financial Associates Inc. now owns 48,964 shares of the savings and loan company worth $691,000 after acquiring 10,321 additional shares during the period. Bank of New York Mellon Corp increased its position in Northwest Bancshares by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 1,849,765 shares of the savings and loan company worth $24,565,000 after acquiring 10,129 additional shares during the period. BNP Paribas Arbitrage SA increased its position in Northwest Bancshares by 116.4% in the third quarter. BNP Paribas Arbitrage SA now owns 134,504 shares in the savings and loan company worth $1,786,000 after acquiring an additional 72,340 shares during the period. Janus Henderson Group PLC bought a new position in Northwest Bancshares in the third quarter worth approximately $162,000. Finally, Jane Street Group LLC bought a new position in Northwest Bancshares in the third quarter worth approximately $226,000. Institutional investors and hedge funds hold 60.42% of the company’s shares.
NWBI traded down $0.17 at midday on Friday, hitting $15.01. The company’s stock had a trading volume of 837,910 shares, compared to its average volume of 800,175. The stock’s 50-day moving average is $14.05 and its 200-day moving average is $13.60. Northwest Bancshares has a 1-year low of $12.37 and a 1-year high of $15.48. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt ratio of 0.24. The company has a market capitalization of $1.90 billion, a price-earnings ratio of 12.01 and a beta of 0.61.
The company also recently declared 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. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 5.33%. The ex-dividend date was Thursday, November 4. The payout ratio of Northwest Bancshares is 64.00%.
About Northwest Bancshares
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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