Brokerages Expect Northwest Bancshares, Inc. (NWBI) Will Post Quarterly Sales of $108.15 Million
Wall Street brokerages forecast that Northwest Bancshares, Inc. (NASDAQ:NWBI) will announce $108.15 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Northwest Bancshares’ earnings, with the lowest sales estimate coming in at $107.22 million and the highest estimate coming in at $109.08 million. Northwest Bancshares posted sales of $107.76 million during the same quarter last year, which suggests a positive year over year growth rate of 0.4%. The firm is expected to report its next earnings results on Monday, January 22nd.
On average, analysts expect that Northwest Bancshares will report full-year sales of $108.15 million for the current financial year, with estimates ranging from $443.82 million to $445.68 million. For the next financial year, analysts expect that the business will report sales of $435.61 million per share, with estimates ranging from $434.91 million to $436.31 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings data on Monday, October 23rd. The savings and loans company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Northwest Bancshares had a return on equity of 7.54% and a net margin of 20.59%. The firm had revenue of $107.83 million during the quarter, compared to analysts’ expectations of $106.63 million.
NWBI has been the subject of a number of recent research reports. Zacks Investment Research upgraded Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $16.00 target price on shares of Northwest Bancshares in a report on Sunday, October 8th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Northwest Bancshares in a report on Tuesday, October 24th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Northwest Bancshares currently has a consensus rating of “Hold” and an average price target of $16.67.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Thursday, November 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Wednesday, November 1st. Northwest Bancshares’s dividend payout ratio (DPR) is 68.09%.
In other news, EVP Jonathan P. Scalise sold 6,047 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $17.21, for a total value of $104,068.87. Following the completion of the sale, the executive vice president now directly owns 18,402 shares of the company’s stock, valued at approximately $316,698.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Young sold 5,625 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $16.18, for a total value 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 disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of NWBI. UBS Asset Management Americas Inc. lifted its holdings in shares of Northwest Bancshares by 60.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 63,589 shares of the savings and loans company’s stock valued at $1,071,000 after purchasing an additional 23,837 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Northwest Bancshares by 64.6% in the 1st quarter. OppenheimerFunds Inc. now owns 20,145 shares of the savings and loans company’s stock valued at $339,000 after purchasing an additional 7,908 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Northwest Bancshares by 2.3% in the 1st quarter. Teachers Advisors LLC now owns 186,754 shares of the savings and loans company’s stock valued at $3,145,000 after purchasing an additional 4,258 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Northwest Bancshares by 0.7% in the 1st quarter. Legal & General Group Plc now owns 224,767 shares of the savings and loans company’s stock valued at $3,786,000 after purchasing an additional 1,475 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its holdings in shares of Northwest Bancshares by 4.6% in the 1st quarter. Thrivent Financial For Lutherans now owns 57,700 shares of the savings and loans company’s stock valued at $972,000 after purchasing an additional 2,550 shares during the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.
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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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