Northwest Bancshares (NASDAQ:NWBI) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Northwest Bancshares (NASDAQ:NWBIGet Rating) released its earnings results on Monday. The savings and loans company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.01), MarketWatch Earnings reports. Northwest Bancshares had a net margin of 24.18% and a return on equity of 8.52%. The business had revenue of $155.71 million during the quarter, compared to the consensus estimate of $142.80 million.

Northwest Bancshares Stock Up 1.4 %

Shares of NWBI traded up $0.19 on Tuesday, hitting $13.75. 442,877 shares of the stock traded hands, compared to its average volume of 522,278. The company has a market capitalization of $1.75 billion, a PE ratio of 13.61 and a beta of 0.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.91 and a current ratio of 0.91. The business has a 50 day simple moving average of $14.31 and a 200 day simple moving average of $14.19. Northwest Bancshares has a one year low of $12.04 and a one year high of $15.35.

Northwest Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Thursday, February 2nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.82%. The ex-dividend date of this dividend is Wednesday, February 1st. Northwest Bancshares’s dividend payout ratio (DPR) is currently 79.21%.

Insider Activity at Northwest Bancshares

In related news, EVP Thomas K. Iv Creal sold 4,097 shares of the firm’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $15.12, for a total transaction of $61,946.64. Following the completion of the sale, the executive vice president now owns 24,289 shares of the company’s stock, valued at $367,249.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Timothy B. Fannin sold 24,480 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $14.83, for a total transaction of $363,038.40. Following the completion of the sale, the director now owns 25,046 shares of the company’s stock, valued at approximately $371,432.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Thomas K. Iv Creal sold 4,097 shares of the business’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $15.12, for a total transaction of $61,946.64. Following the sale, the executive vice president now directly owns 24,289 shares of the company’s stock, valued at approximately $367,249.68. The disclosure for this sale can be found here. Insiders sold 58,154 shares of company stock valued at $869,836 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NWBI. Raymond James & Associates grew its holdings in Northwest Bancshares by 6.5% during the 1st quarter. Raymond James & Associates now owns 50,662 shares of the savings and loans company’s stock valued at $684,000 after purchasing an additional 3,072 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Northwest Bancshares by 2.9% in the 1st quarter. Bank of New York Mellon Corp now owns 1,713,076 shares of the savings and loans company’s stock worth $23,144,000 after acquiring an additional 47,965 shares in the last quarter. Citigroup Inc. grew its stake in Northwest Bancshares by 14.1% in the 1st quarter. Citigroup Inc. now owns 113,168 shares of the savings and loans company’s stock worth $1,529,000 after acquiring an additional 14,002 shares in the last quarter. Natixis Advisors L.P. bought a new position in Northwest Bancshares in the 1st quarter worth about $204,000. Finally, MetLife Investment Management LLC grew its stake in Northwest Bancshares by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 65,449 shares of the savings and loans company’s stock worth $884,000 after acquiring an additional 23,337 shares in the last quarter. Hedge funds and other institutional investors own 64.62% of the company’s stock.

Wall Street Analysts Forecast Growth

NWBI has been the topic of several recent research reports. Janney Montgomery Scott assumed coverage on Northwest Bancshares in a research report on Thursday, September 29th. They set a “neutral” rating and a $15.00 target price on the stock. Piper Sandler cut their target price on Northwest Bancshares to $12.00 in a research note on Wednesday, October 5th. Finally, StockNews.com assumed coverage on Northwest Bancshares in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

Northwest Bancshares Company Profile

(Get Rating)

Northwest Bancshares, Inc operates as the 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.

Featured Stories

Earnings History for Northwest Bancshares (NASDAQ:NWBI)

Receive News & Ratings for Northwest Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northwest Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.