Northwest Bancshares, Inc. (NWBI) Issues Quarterly Earnings Results
Northwest Bancshares, Inc. (NASDAQ:NWBI) posted its earnings results on Monday. The savings and loans company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02, MarketWatch Earnings reports. Northwest Bancshares had a net margin of 18.91% and a return on equity of 7.45%. The firm had revenue of $107.83 million during the quarter, compared to analysts’ expectations of $106.63 million.
Northwest Bancshares (NASDAQ:NWBI) traded down 0.28% during midday trading on Tuesday, hitting $17.50. 111,710 shares of the stock traded hands. The firm’s 50-day moving average is $16.84 and its 200-day moving average is $16.08. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 20.40 and a beta of 0.65. Northwest Bancshares has a 52-week low of $14.95 and a 52-week high of $19.10.
In other news, EVP Andrew Young sold 5,625 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $16.18, for a total transaction of $91,012.50. Following the completion of the sale, the executive vice president now directly owns 60,254 shares of the company’s stock, valued at $974,909.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip M. Tredway sold 13,560 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $16.13, for a total transaction of $218,722.80. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
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Several equities research analysts have recently commented on NWBI shares. Zacks Investment Research raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $16.00 target price on shares of Northwest Bancshares in a research report on Sunday, October 8th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Northwest Bancshares presently has an average rating of “Hold” and an average target price of $16.50.
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.
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