Northwest Bancshares, Inc. (NASDAQ:NWBI - Free Report) - Equities researchers at DA Davidson reduced their FY2024 EPS estimates for Northwest Bancshares in a research report issued on Tuesday, April 23rd. DA Davidson analyst M. Navas now forecasts that the savings and loans company will earn $0.91 per share for the year, down from their previous forecast of $1.00. The consensus estimate for Northwest Bancshares' current full-year earnings is $0.95 per share.
Northwest Bancshares (NASDAQ:NWBI - Get Free Report) last announced its quarterly earnings data on Monday, April 22nd. The savings and loans company reported $0.23 EPS for the quarter, meeting analysts' consensus estimates of $0.23. The company had revenue of $188.20 million during the quarter, compared to the consensus estimate of $132.80 million. Northwest Bancshares had a return on equity of 8.77% and a net margin of 17.84%.
Several other research firms also recently weighed in on NWBI. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $12.00 target price (down from $13.00) on shares of Northwest Bancshares in a research report on Tuesday. Piper Sandler cut their target price on shares of Northwest Bancshares from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Tuesday.
Check Out Our Latest Analysis on NWBI
Northwest Bancshares Trading Down 0.5 %
Shares of NASDAQ:NWBI traded down $0.05 during midday trading on Thursday, reaching $10.89. The company had a trading volume of 662,331 shares, compared to its average volume of 814,120. The company has a fifty day simple moving average of $11.29 and a two-hundred day simple moving average of $11.50. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 10.62 and a beta of 0.60. Northwest Bancshares has a 1-year low of $9.80 and a 1-year high of $13.07. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.96.
Northwest Bancshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, May 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date is Wednesday, May 1st. Northwest Bancshares's payout ratio is presently 77.67%.
Institutional Trading of Northwest Bancshares
Several hedge funds and other institutional investors have recently modified their holdings of the company. IVC Wealth Advisors LLC acquired a new position in Northwest Bancshares in the first quarter worth approximately $124,000. Diversified Trust Co acquired a new position in Northwest Bancshares during the first quarter worth $175,000. Hennion & Walsh Asset Management Inc. raised its holdings in Northwest Bancshares by 22.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 27,683 shares of the savings and loans company's stock valued at $323,000 after buying an additional 5,012 shares in the last quarter. Courier Capital LLC lifted its position in shares of Northwest Bancshares by 10.2% in the first quarter. Courier Capital LLC now owns 13,576 shares of the savings and loans company's stock worth $158,000 after buying an additional 1,253 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Northwest Bancshares by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 14,959,190 shares of the savings and loans company's stock worth $186,691,000 after buying an additional 54,526 shares during the last quarter. 66.32% of the stock is currently owned by hedge funds and other institutional investors.
About Northwest Bancshares
(
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Northwest Bancshares, Inc operates as the bank holding company for Northwest Bank, a state-chartered savings bank that provides personal and business banking solutions. The company accepts various deposits, including checking, savings, money market deposit, term certificate, and individual retirement accounts.
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