Equities analysts expect Northwest Bancshares, Inc. (NASDAQ:NWBI) to report $0.21 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Northwest Bancshares’ earnings. Northwest Bancshares reported earnings of $0.25 per share in the same quarter last year, which indicates a negative year over year growth rate of 16%. The firm is expected to announce its next earnings report on Monday, January 22nd.
On average, analysts expect that Northwest Bancshares will report full year earnings of $0.90 per share for the current financial year. For the next year, analysts expect that the company will report earnings of $1.02 per share, with EPS estimates ranging from $0.85 to $1.19. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings data on Monday, October 23rd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The business had revenue of $107.83 million during the quarter, compared to analysts’ expectations of $106.63 million. Northwest Bancshares had a net margin of 20.59% and a return on equity of 7.54%.
NWBI has been the subject of several recent analyst reports. Boenning Scattergood reaffirmed a “hold” rating on shares of Northwest Bancshares in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $16.00 price objective on shares of Northwest Bancshares in a research report on Sunday, October 8th. BidaskClub raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Finally, Zacks Investment Research cut shares of Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 26th. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.25.
In related news, EVP Gerald J. Ritzert sold 9,592 shares of Northwest Bancshares stock in a transaction on Monday, December 11th. The shares were sold at an average price of $16.57, for a total transaction of $158,939.44. Following the sale, the executive vice president now directly owns 50,657 shares in the company, valued at approximately $839,386.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William W. Harvey sold 10,000 shares of Northwest Bancshares stock in a transaction on Monday, December 4th. The stock was sold at an average price of $17.28, for a total transaction of $172,800.00. Following the sale, the chief financial officer now owns 158,649 shares in the company, valued at $2,741,454.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,639 shares of company stock valued at $435,808. Corporate insiders own 2.00% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its stake in Northwest Bancshares by 2.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,284 shares of the savings and loans company’s stock worth $114,000 after acquiring an additional 180 shares in the last quarter. SG Americas Securities LLC raised its stake in Northwest Bancshares by 32.9% during the 2nd quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock worth $133,000 after acquiring an additional 2,112 shares in the last quarter. Shelton Capital Management acquired a new stake in Northwest Bancshares during the 2nd quarter worth $158,000. Riverhead Capital Management LLC raised its stake in Northwest Bancshares by 53.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 10,160 shares of the savings and loans company’s stock worth $159,000 after acquiring an additional 3,560 shares in the last quarter. Finally, Clinton Group Inc. acquired a new stake in Northwest Bancshares during the 2nd quarter worth $160,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.
Northwest Bancshares (NASDAQ:NWBI) traded up $0.05 during trading on Wednesday, hitting $16.97. 363,916 shares of the stock traded hands, compared to its average volume of 506,984. The stock has a market cap of $1,736.34, a PE ratio of 18.05, a P/E/G ratio of 1.66 and a beta of 0.63. Northwest Bancshares has a 1-year low of $14.95 and a 1-year high of $18.63. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.19.
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Northwest Bancshares Company Profile
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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