Northwest Bancshares, Inc. (NASDAQ:NWBI) – Stock analysts at DA Davidson issued their Q3 2020 EPS estimates for shares of Northwest Bancshares in a research report issued on Wednesday, July 29th. DA Davidson analyst R. Gunther expects that the savings and loans company will post earnings per share of $0.28 for the quarter.
A number of other analysts have also recently commented on the stock. B. Riley initiated coverage on shares of Northwest Bancshares in a research report on Friday, June 19th. They set a “buy” rating and a $12.50 price target on the stock. BidaskClub cut shares of Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, Zacks Investment Research raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Northwest Bancshares presently has an average rating of “Hold” and a consensus price target of $15.25.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings results on Monday, July 27th. The savings and loans company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.18. The business had revenue of $133.57 million for the quarter, compared to analysts’ expectations of $125.99 million. Northwest Bancshares had a net margin of 11.31% and a return on equity of 6.97%.
A number of hedge funds and other institutional investors have recently made changes to their positions in NWBI. Amundi Pioneer Asset Management Inc. bought a new position in Northwest Bancshares in the 1st quarter valued at about $146,000. Envestnet Asset Management Inc. bought a new position in Northwest Bancshares in the 4th quarter valued at about $182,000. Advisor Group Inc. lifted its position in Northwest Bancshares by 19.7% in the 4th quarter. Advisor Group Inc. now owns 4,467 shares of the savings and loans company’s stock valued at $74,000 after acquiring an additional 736 shares in the last quarter. UBS Group AG lifted its position in Northwest Bancshares by 47.5% in the 4th quarter. UBS Group AG now owns 160,140 shares of the savings and loans company’s stock valued at $2,663,000 after acquiring an additional 51,535 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Northwest Bancshares by 32.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 511,318 shares of the savings and loans company’s stock valued at $8,503,000 after buying an additional 125,716 shares during the last quarter. 58.74% of the stock is currently owned by institutional investors and hedge funds.
In other Northwest Bancshares news, Director Timothy M. Hunter purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average price of $10.35 per share, with a total value of $155,250.00. Insiders have bought a total of 17,845 shares of company stock worth $182,757 in the last three months. Insiders own 1.20% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 7.72%. Northwest Bancshares’s dividend payout ratio (DPR) is presently 72.38%.
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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