Northwest Bancshares (NASDAQ:NWBI) Posts Earnings Results, Beats Expectations By $0.01 EPS

Northwest Bancshares (NASDAQ:NWBI) issued its quarterly earnings data on Sunday. The savings and loans company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01, Fidelity Earnings reports. Northwest Bancshares had a return on equity of 7.20% and a net margin of 11.80%.

Northwest Bancshares stock traded down $0.21 during midday trading on Tuesday, hitting $13.41. 49,108 shares of the company were exchanged, compared to its average volume of 662,009. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.99 and a current ratio of 0.99. Northwest Bancshares has a fifty-two week low of $8.52 and a fifty-two week high of $16.16. The business has a fifty day simple moving average of $13.05 and a two-hundred day simple moving average of $11.07. The firm has a market capitalization of $1.71 billion, a PE ratio of 24.32 and a beta of 0.68.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 15th. Investors of record on Thursday, February 4th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 5.67%. The ex-dividend date is Wednesday, February 3rd. Northwest Bancshares’s dividend payout ratio (DPR) is 72.38%.

A number of brokerages recently weighed in on NWBI. B. Riley upped their price objective on Northwest Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday. Stephens started coverage on Northwest Bancshares in a research note on Wednesday, October 14th. They issued an “equal weight” rating and a $11.00 price target for the company. Piper Sandler upgraded Northwest Bancshares from an “underweight” rating to a “neutral” rating and set a $10.00 price target for the company in a research note on Tuesday, October 27th. TheStreet raised Northwest Bancshares from a “c+” rating to a “b” rating in a report on Tuesday, November 10th. Finally, Boenning Scattergood initiated coverage on Northwest Bancshares in a report on Tuesday, October 13th. They issued a “neutral” rating on the stock. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.75.

In other Northwest Bancshares news, EVP Mark T. Reitzes acquired 3,000 shares of the company’s stock in a transaction on Wednesday, October 28th. The shares were bought at an average cost of $10.42 per share, with a total value of $31,260.00. Following the completion of the acquisition, the executive vice president now owns 3,625 shares in the company, valued at $37,772.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy M. Hunter acquired 10,000 shares of the company’s stock in a transaction on Thursday, November 5th. The stock was acquired at an average cost of $10.55 per share, for a total transaction of $105,500.00. Over the last three months, insiders acquired 14,700 shares of company stock worth $156,701. 1.20% of the stock is owned by corporate insiders.

About Northwest Bancshares

Northwest Bancshares, Inc operates as a holding company for Northwest Bank that offers various personal and business banking solutions. The company accepts various deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts. Its loan products include one-to-four family residential real estate, short-term consumer, multi-family residential and commercial real estate, commercial business, and residential mortgage loans; home equity lines of credit; and consumer loans comprising automobile, sales finance, unsecured personal, and credit card loans, as well as loans secured by deposit accounts.

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