Zacks: Brokerages Expect Northwest Bancshares, Inc. (NWBI) Will Announce Earnings of $0.23 Per Share
Equities analysts forecast that Northwest Bancshares, Inc. (NASDAQ:NWBI) will announce earnings of $0.23 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Northwest Bancshares’ earnings. The lowest EPS estimate is $0.21 and the highest is $0.24. Northwest Bancshares reported earnings of $0.25 per share in the same quarter last year, which indicates a negative year over year growth rate of 8%. The company is scheduled to report its next quarterly earnings report on Monday, January 22nd.
According to Zacks, analysts expect that Northwest Bancshares will report full-year earnings of $0.92 per share for the current fiscal year, with EPS estimates ranging from $0.90 to $0.93. For the next year, analysts anticipate that the company will post earnings of $0.91 per share, with EPS estimates ranging from $0.85 to $0.97. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last issued its earnings results on Monday, October 23rd. The savings and loans company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $107.83 million for the quarter, compared to analysts’ expectations of $106.63 million. Northwest Bancshares had a net margin of 20.59% and a return on equity of 7.54%.
In other news, CFO William W. Harvey sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $17.28, for a total value of $172,800.00. Following the transaction, the chief financial officer now owns 158,649 shares in the company, valued at $2,741,454.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Andrew Young sold 5,625 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $16.18, for a total transaction of $91,012.50. Following the completion of the transaction, the executive vice president now owns 60,254 shares in the company, valued at approximately $974,909.72. The disclosure for this sale can be found here. Insiders have sold 21,672 shares of company stock worth $367,881 in the last three months. 2.00% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its holdings in Northwest Bancshares by 2.5% during the second 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 buying an additional 180 shares during the last quarter. SG Americas Securities LLC increased its holdings in Northwest Bancshares by 32.9% during the second quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock valued at $133,000 after buying an additional 2,112 shares during the last quarter. Shelton Capital Management purchased a new stake in Northwest Bancshares during the second quarter valued at approximately $158,000. Riverhead Capital Management LLC increased its holdings in Northwest Bancshares by 53.9% during the second quarter. Riverhead Capital Management LLC now owns 10,160 shares of the savings and loans company’s stock valued at $159,000 after buying an additional 3,560 shares during the last quarter. Finally, Clinton Group Inc. purchased a new stake in Northwest Bancshares during the second quarter valued at approximately $160,000. 64.53% of the stock is owned by institutional investors and hedge funds.
Shares of Northwest Bancshares (NASDAQ NWBI) traded down $0.08 during trading hours on Thursday, reaching $16.81. 360,000 shares of the company were exchanged, compared to its average volume of 475,889. The stock has a market cap of $1,733.26, a PE ratio of 19.19, a PEG ratio of 2.00 and a beta of 0.63. Northwest Bancshares has a one year low of $14.95 and a one year high of $19.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.99 and a current ratio of 0.99.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Thursday, November 2nd were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.81%. The ex-dividend date was Wednesday, November 1st. Northwest Bancshares’s payout ratio is currently 68.09%.
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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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