Northwest Bancshares, Inc. (NASDAQ:NWBI) Announces Quarterly Earnings Results
Northwest Bancshares, Inc. (NASDAQ:NWBI) released its quarterly earnings data on Monday. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01, MarketWatch Earnings reports. The firm had revenue of $124.21 million for the quarter, compared to analyst estimates of $116.82 million. Northwest Bancshares had a return on equity of 7.28% and a net margin of 11.30%.
Northwest Bancshares (NASDAQ:NWBI) opened at 16.42 on Tuesday. Northwest Bancshares has a 52-week low of $14.65 and a 52-week high of $19.10. The firm has a market cap of $1.68 billion, a P/E ratio of 34.07 and a beta of 0.62. The stock has a 50 day moving average price of $15.64 and a 200 day moving average price of $16.57.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Tuesday, August 1st. Northwest Bancshares’s payout ratio is 133.33%.
Several research firms have issued reports on NWBI. Zacks Investment Research upgraded Northwest Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, March 29th. BidaskClub upgraded Northwest Bancshares from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, ValuEngine lowered Northwest Bancshares from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research note on Thursday, May 11th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $16.60.
ILLEGAL ACTIVITY WARNING: This piece was reported by American Banking News and is owned by of American Banking News. If you are reading this piece on another publication, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/07/25/northwest-bancshares-inc-nasdaqnwbi-announces-quarterly-earnings-results.html.
Northwest Bancshares Company Profile
Northwest Bancshares, Inc (Northwest) is a savings and loan holding company. The Company’s principal business consists of attracting deposits and making loans secured by various types of collateral, including real estate and other assets in the markets in which it operates. Its segments include Community Banking and Consumer Finance.
Receive News & Ratings for Northwest Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northwest Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.