Equities analysts expect Northwest Bancshares, Inc. (NASDAQ:NWBI) to post sales of $106.47 million for the current quarter, according to Zacks. Two analysts have issued estimates for Northwest Bancshares’ earnings. The lowest sales estimate is $105.54 million and the highest is $107.39 million. Northwest Bancshares posted sales of $102.08 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.3%. The business is expected to announce its next earnings results on Monday, April 23rd.
On average, analysts expect that Northwest Bancshares will report full-year sales of $106.47 million for the current fiscal year, with estimates ranging from $436.78 million to $441.22 million. For the next year, analysts forecast that the firm will report sales of $454.92 million per share, with estimates ranging from $451.24 million to $458.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last posted its earnings results on Monday, January 22nd. The savings and loans company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $107.15 million during the quarter, compared to analysts’ expectations of $108.15 million. Northwest Bancshares had a net margin of 20.11% and a return on equity of 7.23%.
A number of research analysts have recently commented on NWBI shares. BidaskClub raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Northwest Bancshares in a research note on Sunday, October 8th. Boenning Scattergood reaffirmed a “hold” rating on shares of Northwest Bancshares in a research note on Tuesday, October 24th. Finally, Zacks Investment Research downgraded Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 26th. Five investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $17.25.
Northwest Bancshares (NASDAQ:NWBI) traded down $0.12 during mid-day trading on Monday, hitting $16.90. 1,650,000 shares of the stock were exchanged, compared to its average volume of 475,119. The company has a market capitalization of $1,720.00, a PE ratio of 18.37, a P/E/G ratio of 1.65 and a beta of 0.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.00 and a quick ratio of 1.00. Northwest Bancshares has a 52-week low of $14.95 and a 52-week high of $18.63.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.68 annualized dividend and a dividend yield of 4.02%. This is an increase from Northwest Bancshares’s previous quarterly dividend of $0.16. Northwest Bancshares’s dividend payout ratio is currently 73.91%.
In other news, EVP Jonathan P. Scalise sold 19,172 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $17.01, for a total value of $326,115.72. Following the completion of the transaction, the executive vice president now owns 35,202 shares of the company’s stock, valued at $598,786.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gerald J. Ritzert sold 9,592 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $16.57, for a total value of $158,939.44. Following the completion of the transaction, the executive vice president now directly owns 50,657 shares of the company’s stock, valued at approximately $839,386.49. The disclosure for this sale can be found here. Insiders sold 38,764 shares of company stock valued at $657,855 in the last ninety days. 2.00% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp increased its position in Northwest Bancshares by 3.3% during the 2nd quarter. Northern Trust Corp now owns 2,449,958 shares of the savings and loans company’s stock valued at $38,243,000 after purchasing an additional 78,768 shares during the period. First Trust Advisors LP increased its position in Northwest Bancshares by 7.1% during the 3rd quarter. First Trust Advisors LP now owns 1,636,501 shares of the savings and loans company’s stock valued at $28,262,000 after purchasing an additional 108,610 shares during the period. State Street Corp increased its position in Northwest Bancshares by 3.8% during the 2nd quarter. State Street Corp now owns 2,516,857 shares of the savings and loans company’s stock valued at $39,287,000 after purchasing an additional 93,063 shares during the period. Susquehanna International Group LLP increased its position in Northwest Bancshares by 543.1% during the 2nd quarter. Susquehanna International Group LLP now owns 108,037 shares of the savings and loans company’s stock valued at $1,686,000 after purchasing an additional 91,237 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Northwest Bancshares by 4.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 669,960 shares of the savings and loans company’s stock valued at $11,571,000 after purchasing an additional 28,537 shares during the period. 64.56% of the stock is owned by institutional investors.
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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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