Zacks: Analysts Anticipate Northwest Bancshares, Inc. (NASDAQ:NWBI) to Post $0.26 EPS

Equities analysts forecast that Northwest Bancshares, Inc. (NASDAQ:NWBI) will announce earnings per share (EPS) of $0.26 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Northwest Bancshares’ earnings, with estimates ranging from $0.23 to $0.29. Northwest Bancshares reported earnings of $0.31 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 16.1%. The firm is scheduled to announce its next earnings report on Monday, October 19th.

According to Zacks, analysts expect that Northwest Bancshares will report full year earnings of $0.54 per share for the current year, with EPS estimates ranging from $0.41 to $0.62. For the next year, analysts forecast that the firm will report earnings of $0.88 per share, with EPS estimates ranging from $0.73 to $0.98. Zacks’ earnings per share averages are a mean average based on a survey of analysts that cover Northwest Bancshares.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings data on Monday, July 27th. The savings and loans company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.18. The firm had revenue of $133.57 million for the quarter, compared to the consensus estimate of $125.99 million. Northwest Bancshares had a net margin of 11.31% and a return on equity of 6.97%.

A number of equities research analysts have recently weighed in on NWBI shares. Boenning Scattergood initiated coverage on shares of Northwest Bancshares in a report on Tuesday, October 13th. They set a “neutral” rating on the stock. ValuEngine downgraded Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Stephens assumed coverage on Northwest Bancshares in a research note on Wednesday. They issued an “equal weight” rating and a $11.00 price objective for the company. Finally, BidaskClub upgraded Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, October 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.83.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NWBI. Vanguard Group Inc. lifted its holdings in shares of Northwest Bancshares by 14.3% in the 2nd quarter. Vanguard Group Inc. now owns 13,284,860 shares of the savings and loans company’s stock valued at $135,838,000 after buying an additional 1,663,100 shares during the period. PL Capital Advisors LLC acquired a new position in Northwest Bancshares in the second quarter valued at approximately $8,490,000. State Street Corp boosted its position in Northwest Bancshares by 24.8% in the 1st quarter. State Street Corp now owns 4,091,283 shares of the savings and loans company’s stock worth $47,336,000 after purchasing an additional 813,697 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Northwest Bancshares by 43.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,831,018 shares of the savings and loans company’s stock worth $18,723,000 after purchasing an additional 557,111 shares in the last quarter. Finally, Ancora Advisors LLC grew its stake in shares of Northwest Bancshares by 1,491.5% during the 2nd quarter. Ancora Advisors LLC now owns 558,409 shares of the savings and loans company’s stock worth $5,709,000 after purchasing an additional 523,323 shares during the period. Institutional investors and hedge funds own 64.49% of the company’s stock.

Shares of Northwest Bancshares stock opened at $10.24 on Thursday. The firm’s 50 day simple moving average is $9.86 and its two-hundred day simple moving average is $10.11. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 17.97 and a beta of 0.67. Northwest Bancshares has a 12-month low of $8.52 and a 12-month high of $17.74. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.37.

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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Earnings History and Estimates for Northwest Bancshares (NASDAQ:NWBI)

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