Brokerages expect Northwest Bancshares, Inc. (NASDAQ:NWBI) to report sales of $115.89 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Northwest Bancshares’ earnings, with estimates ranging from $113.80 million to $117.86 million. Northwest Bancshares posted sales of $110.08 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.3%. The business is expected to issue its next earnings results on Tuesday, January 28th.
According to Zacks, analysts expect that Northwest Bancshares will report full year sales of $459.02 million for the current year, with estimates ranging from $456.50 million to $460.55 million. For the next financial year, analysts expect that the company will post sales of $509.18 million, with estimates ranging from $482.73 million to $523.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings data on Monday, October 21st. The savings and loans company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. The business had revenue of $117.11 million for the quarter, compared to analysts’ expectations of $116.30 million. Northwest Bancshares had a return on equity of 8.57% and a net margin of 21.99%.
Several research firms recently issued reports on NWBI. Zacks Investment Research cut Northwest Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. Raymond James began coverage on Northwest Bancshares in a research report on Wednesday, November 27th. They issued a “market perform” rating on the stock. ValuEngine raised Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, BidaskClub cut Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Northwest Bancshares has a consensus rating of “Hold” and an average price target of $19.00.
NWBI stock opened at $16.46 on Wednesday. The stock has a market capitalization of $1.74 billion, a PE ratio of 16.14 and a beta of 0.65. Northwest Bancshares has a 12-month low of $15.46 and a 12-month high of $18.81. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.28. The stock’s 50 day simple moving average is $16.58 and its 200 day simple moving average is $16.69.
In other news, EVP Michael G. Smelko sold 13,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $16.98, for a total transaction of $220,740.00. Following the transaction, the executive vice president now directly owns 92,596 shares of the company’s stock, valued at approximately $1,572,280.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sonia M. Probst sold 7,030 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $17.53, for a total value of $123,235.90. Following the transaction, the director now directly owns 47,686 shares in the company, valued at $835,935.58. The disclosure for this sale can be found here. Insiders sold a total of 51,714 shares of company stock worth $871,130 over the last ninety days. 1.40% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Northwest Bancshares by 2.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 29,964 shares of the savings and loans company’s stock valued at $528,000 after buying an additional 626 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Northwest Bancshares by 1.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 60,966 shares of the savings and loans company’s stock valued at $999,000 after buying an additional 632 shares during the period. Metropolitan Life Insurance Co NY lifted its holdings in shares of Northwest Bancshares by 2.8% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 32,535 shares of the savings and loans company’s stock valued at $533,000 after buying an additional 873 shares during the period. Carroll Financial Associates Inc. lifted its holdings in shares of Northwest Bancshares by 4.0% during the 3rd quarter. Carroll Financial Associates Inc. now owns 35,749 shares of the savings and loans company’s stock valued at $585,000 after buying an additional 1,363 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in shares of Northwest Bancshares during the 3rd quarter valued at $25,000. 69.82% of the stock is currently owned by hedge funds and other institutional investors.
About Northwest Bancshares
Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.
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