$0.22 Earnings Per Share Expected for Northwest Bancshares, Inc. (NWBI) This Quarter
Wall Street analysts expect that Northwest Bancshares, Inc. (NASDAQ:NWBI) will post earnings of $0.22 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Northwest Bancshares’ earnings. Northwest Bancshares also posted earnings per share of $0.22 in the same quarter last year. The business is scheduled to issue its next quarterly earnings report on Monday, October 23rd.
According to Zacks, analysts expect that Northwest Bancshares will report full-year earnings of $0.91 per share for the current financial year, with EPS estimates ranging from $0.90 to $0.92. For the next financial year, analysts forecast that the company will post earnings of $0.95 per share, with EPS estimates ranging from $0.90 to $1.00. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last posted its earnings results on Monday, July 24th. 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. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%. The company had revenue of $124.21 million for the quarter, compared to analyst estimates of $116.82 million.
NWBI has been the topic of a number of analyst reports. Zacks Investment Research raised Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $16.00 price objective on shares of Northwest Bancshares in a report on Sunday. Finally, BidaskClub downgraded Northwest Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $16.50.
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In other news, EVP Andrew Young sold 5,625 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $16.18, for a total value of $91,012.50. Following the transaction, the executive vice president now owns 60,254 shares in the company, valued at approximately $974,909.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Philip M. Tredway sold 13,560 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $16.13, for a total value of $218,722.80. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its holdings in shares of Northwest Bancshares by 2.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,284 shares of the savings and loans company’s stock valued at $114,000 after acquiring an additional 180 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Northwest Bancshares by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 53,211 shares of the savings and loans company’s stock valued at $831,000 after acquiring an additional 200 shares during the last quarter. Texas Permanent School Fund grew its stake in Northwest Bancshares by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 74,462 shares of the savings and loans company’s stock worth $1,162,000 after buying an additional 741 shares during the last quarter. Legal & General Group Plc grew its stake in Northwest Bancshares by 0.7% during the 1st quarter. Legal & General Group Plc now owns 224,767 shares of the savings and loans company’s stock worth $3,786,000 after buying an additional 1,475 shares during the last quarter. Finally, Mason Street Advisors LLC grew its stake in Northwest Bancshares by 7.6% during the 1st quarter. Mason Street Advisors LLC now owns 23,810 shares of the savings and loans company’s stock worth $401,000 after buying an additional 1,673 shares during the last quarter. Institutional investors and hedge funds own 65.39% of the company’s stock.
Northwest Bancshares (NWBI) traded up 0.63% during trading on Tuesday, reaching $17.56. The company’s stock had a trading volume of 391,232 shares. The stock has a market capitalization of $1.80 billion, a PE ratio of 20.47 and a beta of 0.65. Northwest Bancshares has a 1-year low of $14.95 and a 1-year high of $19.10. The stock has a 50 day moving average price of $16.34 and a 200 day moving average price of $16.02.
About Northwest Bancshares
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.
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