Northwest Bancshares (NASDAQ:NWBI) Posts Earnings Results, Hits Expectations

Northwest Bancshares (NASDAQ:NWBI) released its quarterly earnings results on Monday. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23, Yahoo Finance reports. The business had revenue of $188.20 million for the quarter, compared to analyst estimates of $132.80 million. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.81%.

Northwest Bancshares Stock Down 1.2 %

Shares of NWBI traded down $0.13 during mid-day trading on Wednesday, hitting $10.87. 271,764 shares of the company’s stock were exchanged, compared to its average volume of 807,318. The firm has a fifty day moving average of $11.30 and a two-hundred day moving average of $11.50. Northwest Bancshares has a twelve month low of $9.80 and a twelve month high of $13.07. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 10.50 and a beta of 0.60. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.41.

Northwest Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.36%. Northwest Bancshares’s dividend payout ratio (DPR) is 77.67%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NWBI. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $12.00 price objective (down previously from $13.00) on shares of Northwest Bancshares in a research note on Tuesday. Piper Sandler dropped their price objective on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note 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.