Northwest Bancshares, Inc. (NWBI) Expected to Post Quarterly Sales of $106.47 Million

Equities analysts expect Northwest Bancshares, Inc. (NASDAQ:NWBI) to report sales of $106.47 million for the current quarter, according to Zacks. Two analysts have made estimates for Northwest Bancshares’ earnings, with the highest sales estimate coming in at $107.39 million and the lowest estimate coming in at $105.54 million. Northwest Bancshares reported sales of $102.08 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.3%. The firm is expected to issue its next earnings report on Monday, April 23rd.

According to Zacks, analysts expect that Northwest Bancshares will report full year sales of $106.47 million for the current fiscal year, with estimates ranging from $436.78 million to $441.22 million. For the next year, analysts expect that the firm will post sales of $454.92 million per share, with estimates ranging from $451.24 million to $458.60 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Northwest Bancshares.

Northwest Bancshares (NASDAQ:NWBI) last issued its earnings results on Monday, January 22nd. The savings and loans company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The company had revenue of $107.15 million during the quarter, compared to the consensus estimate of $108.15 million. Northwest Bancshares had a return on equity of 7.23% and a net margin of 20.11%.

A number of equities analysts have issued reports on NWBI shares. Boenning Scattergood reiterated a “hold” rating on shares of Northwest Bancshares in a research note on Tuesday, October 24th. Zacks Investment Research downgraded Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 26th. Finally, BidaskClub downgraded Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. Five investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.25.

In other news, EVP Gerald J. Ritzert sold 10,800 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $16.57, for a total value of $178,956.00. Following the transaction, the executive vice president now owns 45,857 shares in the company, valued at approximately $759,850.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan P. Scalise sold 19,172 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $17.01, for a total value of $326,115.72. Following the completion of the transaction, the executive vice president now owns 35,202 shares in the company, valued at approximately $598,786.02. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 9,300 shares of company stock valued at $152,330 and have sold 50,964 shares valued at $859,911. 2.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its stake 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 worth $114,000 after buying an additional 180 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Northwest Bancshares by 13.7% in the 2nd quarter. Verition Fund Management LLC now owns 25,799 shares of the savings and loans company’s stock worth $403,000 after buying an additional 3,108 shares during the last quarter. American International Group Inc. boosted its stake in shares of Northwest Bancshares by 5.7% in the 3rd quarter. American International Group Inc. now owns 75,929 shares of the savings and loans company’s stock worth $1,311,000 after buying an additional 4,087 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Northwest Bancshares by 6.5% in the 4th quarter. Victory Capital Management Inc. now owns 70,886 shares of the savings and loans company’s stock worth $1,186,000 after buying an additional 4,301 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of Northwest Bancshares by 11.1% in the 2nd quarter. Voya Investment Management LLC now owns 43,810 shares of the savings and loans company’s stock worth $684,000 after buying an additional 4,366 shares during the last quarter. Hedge funds and other institutional investors own 65.19% of the company’s stock.

Northwest Bancshares (NASDAQ NWBI) opened at $16.97 on Thursday. The stock has a market capitalization of $1,740.00, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.61 and a beta of 0.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.00 and a current ratio of 1.00. Northwest Bancshares has a 12 month low of $14.95 and a 12 month high of $18.63.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, January 31st. This represents a $0.68 dividend on an annualized basis and a yield of 4.01%. This is an increase from Northwest Bancshares’s previous quarterly dividend of $0.16. Northwest Bancshares’s payout ratio is 73.91%.

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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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Earnings History and Estimates for Northwest Bancshares (NASDAQ:NWBI)

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