Northwest Bancshares, Inc. (NASDAQ:NWBI) Announces Quarterly Dividend of $0.20

Northwest Bancshares, Inc. (NASDAQ:NWBI) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Shareholders of record on Thursday, May 2nd will be paid a dividend of 0.20 per share by the savings and loans company on Wednesday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date is Wednesday, May 1st.

Northwest Bancshares has increased its dividend payment by an average of 1.7% annually over the last three years. Northwest Bancshares has a dividend payout ratio of 78.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Northwest Bancshares to earn $1.02 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 78.4%.

Northwest Bancshares Stock Down 0.5 %

Shares of NASDAQ:NWBI opened at $11.00 on Wednesday. Northwest Bancshares has a 52 week low of $9.80 and a 52 week high of $13.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.95 and a current ratio of 0.96. The company’s fifty day moving average is $11.30 and its 200-day moving average is $11.50. The company has a market capitalization of $1.40 billion, a PE ratio of 10.68 and a beta of 0.60.

Northwest Bancshares (NASDAQ:NWBI) last issued its earnings results on Monday, April 22nd. The savings and loans company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.81%. The company had revenue of $188.20 million for the quarter, compared to the consensus estimate of $132.80 million. Equities research analysts predict that Northwest Bancshares will post 0.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NWBI shares. Piper Sandler reduced their target price 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $12.00 target price (down previously from $13.00) on shares of Northwest Bancshares in a research note on Tuesday.

About Northwest Bancshares

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.