Northwest Bancshares (NASDAQ:NWBI) Posts Earnings Results, Beats Expectations By $0.01 EPS

Northwest Bancshares (NASDAQ:NWBI) released its quarterly earnings results on Sunday. The savings and loans company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01, Fidelity Earnings reports. Northwest Bancshares had a net margin of 11.80% and a return on equity of 7.20%.

Shares of Northwest Bancshares stock traded down $0.22 during trading on Tuesday, hitting $13.40. The company’s stock had a trading volume of 526,597 shares, compared to its average volume of 653,550. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.99 and a quick ratio of 0.99. Northwest Bancshares has a 52 week low of $8.52 and a 52 week high of $16.16. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 23.93 and a beta of 0.68. The stock has a 50-day moving average price of $13.05 and a two-hundred day moving average price of $11.07.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 15th. Investors of record on Thursday, February 4th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, February 3rd. This represents a $0.76 annualized dividend and a dividend yield of 5.67%. Northwest Bancshares’s dividend payout ratio is 72.38%.

In other news, EVP Mark T. Reitzes bought 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 28th. The shares were acquired at an average price of $10.42 per share, for a total transaction of $31,260.00. Following the completion of the acquisition, the executive vice president now directly owns 3,625 shares in the company, valued at $37,772.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Meegan sold 6,000 shares of the business’s stock in a transaction on Wednesday, December 9th. The shares were sold at an average price of $12.56, for a total transaction of $75,360.00. In the last three months, insiders purchased 14,700 shares of company stock worth $156,701. 1.20% of the stock is currently owned by insiders.

A number of research firms have weighed in on NWBI. B. Riley boosted their target price on shares of Northwest Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday. Stephens began coverage on shares of Northwest Bancshares in a research note on Wednesday, October 14th. They set an “equal weight” rating and a $11.00 target price on the stock. TheStreet raised shares of Northwest Bancshares from a “c+” rating to a “b” rating in a research note on Tuesday, November 10th. Piper Sandler raised shares of Northwest Bancshares from an “underweight” rating to a “neutral” rating and set a $10.00 target price on the stock in a research note on Tuesday, October 27th. Finally, Boenning Scattergood assumed coverage on shares of Northwest Bancshares in a research note on Tuesday, October 13th. They set a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $13.75.

About Northwest Bancshares

Northwest Bancshares, Inc operates as a holding company for Northwest Bank that offers various personal and business banking solutions. The company accepts various deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts. Its loan products include one-to-four family residential real estate, short-term consumer, multi-family residential and commercial real estate, commercial business, and residential mortgage loans; home equity lines of credit; and consumer loans comprising automobile, sales finance, unsecured personal, and credit card loans, as well as loans secured by deposit accounts.

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Earnings History for Northwest Bancshares (NASDAQ:NWBI)

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