Northwest Bancshares (NASDAQ:NWBI) Announces Quarterly Earnings Results, Meets Expectations

Northwest Bancshares (NASDAQ:NWBI) announced its quarterly earnings data on Monday. The savings and loans company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23, Yahoo Finance reports. The company had revenue of $188.20 million for the quarter, compared to the consensus estimate of $132.80 million. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.81%.

Northwest Bancshares Price Performance

Shares of NASDAQ:NWBI opened at $11.00 on Wednesday. The firm’s 50 day moving average price is $11.30 and its 200-day moving average price is $11.50. Northwest Bancshares has a twelve month low of $9.80 and a twelve month high of $13.07. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $1.40 billion, a PE ratio of 10.68 and a beta of 0.60.

Northwest Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date of this dividend is Wednesday, May 1st. Northwest Bancshares’s payout ratio is presently 77.67%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NWBI. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price target (down previously from $13.00) on shares of Northwest Bancshares in a report on Tuesday. Piper Sandler dropped their price target on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday.

Northwest Bancshares Company Profile

Northwest Bancshares, Inc operates as the bank holding company for Northwest Bank, a state-chartered savings bank that provides personal and business banking solutions. The company accepts various deposits, including checking, savings, money market deposit, term certificate, and individual retirement accounts.