Northwest Bancshares (NWBI) Posts Earnings Results, Meets Estimates

Northwest Bancshares (NASDAQ:NWBI) announced its quarterly earnings data on Wednesday. The savings and loans company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24, Fidelity Earnings reports. The firm had revenue of $103.56 million during the quarter, compared to analysts’ expectations of $106.47 million. Northwest Bancshares had a net margin of 20.11% and a return on equity of 7.23%.

NASDAQ NWBI opened at $16.45 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.18. Northwest Bancshares has a 52 week low of $14.95 and a 52 week high of $17.78. The company has a market cap of $1,691.51, a price-to-earnings ratio of 19.58, a PEG ratio of 1.60 and a beta of 0.63.

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In other Northwest Bancshares news, Director Philip M. Tredway sold 5,714 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $17.18, for a total transaction of $98,166.52. Following the completion of the transaction, the director now owns 21,888 shares in the company, valued at approximately $376,035.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gerald J. Ritzert sold 10,800 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $16.57, for a total transaction of $178,956.00. Following the transaction, the executive vice president now owns 45,857 shares of the company’s stock, valued at approximately $759,850.49. The disclosure for this sale can be found here. Insiders have sold a total of 38,371 shares of company stock valued at $647,733 in the last quarter. 2.20% of the stock is currently owned by company insiders.

NWBI has been the subject of a number of research reports. BidaskClub upgraded shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Northwest Bancshares from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a report on Wednesday, January 3rd. Boenning Scattergood reiterated a “hold” rating on shares of Northwest Bancshares in a report on Tuesday, January 23rd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $17.00 price target on shares of Northwest Bancshares in a report on Tuesday, February 27th. Five research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $17.33.

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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.

Earnings History for Northwest Bancshares (NASDAQ:NWBI)

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