Analysts forecast that Northwest Bancshares, Inc. (NASDAQ:NWBI) will announce sales of $108.20 million for the current quarter, Zacks reports. Two analysts have provided estimates for Northwest Bancshares’ earnings. The highest sales estimate is $108.95 million and the lowest is $107.45 million. Northwest Bancshares reported sales of $124.21 million during the same quarter last year, which would suggest a negative year over year growth rate of 12.9%. The firm is expected to report its next earnings results on Monday, July 23rd.
On average, analysts expect that Northwest Bancshares will report full year sales of $429.74 million for the current fiscal year, with estimates ranging from $429.28 million to $430.19 million. For the next fiscal year, analysts anticipate that the firm will report sales of $446.05 million per share, with estimates ranging from $445.75 million to $446.34 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings data on Monday, April 23rd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The firm had revenue of $103.56 million for the quarter, compared to analyst estimates of $106.47 million. Northwest Bancshares had a net margin of 21.53% and a return on equity of 7.78%.
In other Northwest Bancshares news, CMO Shawn O. Walker sold 9,536 shares of Northwest Bancshares stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $17.52, for a total value of $167,070.72. Following the completion of the transaction, the chief marketing officer now directly owns 33,714 shares of the company’s stock, valued at approximately $590,669.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO David E. Westerburg sold 18,178 shares of Northwest Bancshares stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $17.53, for a total value of $318,660.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,802 shares of company stock valued at $662,473. 2.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CNB Bank acquired a new position in Northwest Bancshares in the 4th quarter valued at about $105,000. Trexquant Investment LP acquired a new position in Northwest Bancshares in the 1st quarter valued at about $168,000. Raymond James & Associates acquired a new position in Northwest Bancshares in the 4th quarter valued at about $184,000. CIBC Asset Management Inc acquired a new position in Northwest Bancshares in the 4th quarter valued at about $228,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in Northwest Bancshares by 61.7% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,414 shares of the savings and loans company’s stock valued at $237,000 after acquiring an additional 5,501 shares in the last quarter. 68.31% of the stock is owned by institutional investors.
NWBI traded up $0.07 on Friday, hitting $17.76. The company had a trading volume of 314,587 shares, compared to its average volume of 463,219. The firm has a market cap of $1.82 billion, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 2.54 and a beta of 0.65. Northwest Bancshares has a 1 year low of $15.06 and a 1 year high of $17.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.18.
About Northwest Bancshares
Northwest Bancshares, Inc operates as a bank holding company for Northwest Savings Bank that offers various personal and business banking solutions in the United States. The company offers personal and business deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts.
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