Northwest Bancshares (NASDAQ:NWBI) Issues Quarterly Earnings Results, Hits Estimates

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

Northwest Bancshares Price Performance

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 firm has a market capitalization of $1.40 billion, a PE ratio of 10.68 and a beta of 0.60. 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 has a fifty day moving average price of $11.30 and a two-hundred day moving average price of $11.50.

Northwest Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders 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 yield of 7.27%. The ex-dividend date is Wednesday, May 1st. Northwest Bancshares’s dividend payout ratio is presently 77.67%.

Analysts Set New Price Targets

Several analysts have recently weighed in on NWBI shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price objective (down previously from $13.00) on shares of Northwest Bancshares in a report on Tuesday. Piper Sandler dropped their price objective on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a report 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.