Northwest Bancshares, Inc. (NASDAQ:NWBI) Expected to Post Earnings of $0.27 Per Share

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Wall Street analysts expect Northwest Bancshares, Inc. (NASDAQ:NWBI) to announce earnings per share of $0.27 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Northwest Bancshares’ earnings. The highest EPS estimate is $0.28 and the lowest is $0.26. Northwest Bancshares posted earnings per share of $0.26 during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.8%. The business is scheduled to report its next quarterly earnings report on Tuesday, January 28th.

On average, analysts expect that Northwest Bancshares will report full-year earnings of $1.09 per share for the current year, with EPS estimates ranging from $1.08 to $1.10. For the next financial year, analysts anticipate that the company will report earnings of $1.08 per share, with EPS estimates ranging from $1.03 to $1.13. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Northwest Bancshares.

Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Monday, October 21st. The savings and loans company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.05. The business had revenue of $117.11 million for the quarter, compared to analyst estimates of $116.30 million. Northwest Bancshares had a net margin of 21.99% and a return on equity of 8.57%.

Several brokerages have recently issued reports on NWBI. ValuEngine raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Zacks Investment Research raised shares of Northwest Bancshares from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Thursday, November 21st. BidaskClub downgraded shares of Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, Raymond James began coverage on shares of Northwest Bancshares in a research report on Wednesday, November 27th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.00.

In other news, Director John P. Meegan sold 6,000 shares of Northwest Bancshares stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $16.80, for a total value of $100,800.00. Following the completion of the transaction, the director now owns 65,350 shares of the company’s stock, valued at approximately $1,097,880. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy M. Hunter acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average cost of $16.94 per share, with a total value of $169,400.00. Following the transaction, the director now owns 34,500 shares in the company, valued at $584,430. The disclosure for this purchase can be found here. In the last three months, insiders sold 26,030 shares of company stock valued at $444,776. Insiders own 1.40% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley raised its stake in Northwest Bancshares by 346.7% in the 2nd quarter. Morgan Stanley now owns 533,637 shares of the savings and loans company’s stock worth $9,397,000 after purchasing an additional 414,180 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Northwest Bancshares by 31.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,687,684 shares of the savings and loans company’s stock valued at $29,718,000 after purchasing an additional 400,589 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Northwest Bancshares in the 2nd quarter valued at $6,841,000. First Trust Advisors LP boosted its stake in shares of Northwest Bancshares by 13.5% in the 3rd quarter. First Trust Advisors LP now owns 2,615,219 shares of the savings and loans company’s stock valued at $42,863,000 after purchasing an additional 311,292 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Northwest Bancshares by 2.0% in the 2nd quarter. BlackRock Inc. now owns 15,573,520 shares of the savings and loans company’s stock valued at $274,250,000 after purchasing an additional 305,917 shares during the last quarter. 69.82% of the stock is owned by institutional investors.

Shares of NWBI stock opened at $16.64 on Friday. The firm has a fifty day moving average of $16.81 and a 200-day moving average of $16.81. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.28. Northwest Bancshares has a 12-month low of $15.46 and a 12-month high of $18.81. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 16.31 and a beta of 0.67.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Thursday, October 31st. Northwest Bancshares’s dividend payout ratio (DPR) is presently 70.59%.

Northwest Bancshares Company Profile

Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.

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Earnings History and Estimates for Northwest Bancshares (NASDAQ:NWBI)

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