Northwest Bancshares, Inc. (NASDAQ:NWBI) – Equities research analysts at Boenning Scattergood boosted their FY2017 EPS estimates for Northwest Bancshares in a report released on Tuesday, Zacks Investment Research reports. Boenning Scattergood analyst M. Schultheis now anticipates that the savings and loans company will earn $0.86 per share for the year, up from their previous forecast of $0.85. Boenning Scattergood has a “Hold” rating on the stock.
Northwest Bancshares (NASDAQ:NWBI) last issued its earnings results on Monday, October 23rd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. Northwest Bancshares had a return on equity of 7.54% and a net margin of 20.59%. The business had revenue of $107.83 million during the quarter, compared to analysts’ expectations of $106.63 million.
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Other analysts have also recently issued research reports about the company. Zacks Investment Research cut Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $16.00 price target on shares of Northwest Bancshares in a research report on Sunday, October 8th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $16.67.
Shares of Northwest Bancshares (NASDAQ:NWBI) traded up $0.05 during trading hours on Thursday, hitting $15.58. The stock had a trading volume of 556,800 shares, compared to its average volume of 481,046. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.19. Northwest Bancshares has a 1-year low of $14.95 and a 1-year high of $19.10. The stock has a market cap of $1,593.69, a PE ratio of 17.65, a P/E/G ratio of 1.84 and a beta of 0.64.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Thursday, November 2nd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.11%. The ex-dividend date is Wednesday, November 1st. Northwest Bancshares’s dividend payout ratio (DPR) is presently 68.09%.
In other Northwest Bancshares news, EVP Jonathan P. Scalise sold 6,047 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $17.21, for a total value of $104,068.87. Following the transaction, the executive vice president now directly owns 18,402 shares of the company’s stock, valued at approximately $316,698.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Andrew Young sold 5,625 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $16.18, for a total value of $91,012.50. Following the completion of the transaction, the executive vice president now directly owns 60,254 shares in the company, valued at $974,909.72. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in NWBI. Public Employees Retirement System of Ohio raised its position in shares of Northwest Bancshares by 2.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,284 shares of the savings and loans company’s stock valued at $114,000 after purchasing an additional 180 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Northwest Bancshares by 32.9% in the 2nd quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock valued at $133,000 after purchasing an additional 2,112 shares in the last quarter. Shelton Capital Management acquired a new position in shares of Northwest Bancshares in the 2nd quarter valued at approximately $158,000. Riverhead Capital Management LLC raised its position in shares of Northwest Bancshares by 53.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 10,160 shares of the savings and loans company’s stock valued at $159,000 after purchasing an additional 3,560 shares in the last quarter. Finally, Clinton Group Inc. acquired a new position in shares of Northwest Bancshares in the 2nd quarter valued at approximately $160,000. 65.36% of the stock is currently owned by institutional investors.
About Northwest Bancshares
Northwest Bancshares, Inc (Northwest) is a savings and loan holding company. The Company’s principal business consists of attracting deposits and making loans secured by various types of collateral, including real estate and other assets in the markets in which it operates. Its segments include Community Banking and Consumer Finance.
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