Northwest Bancshares (NASDAQ:NWBI) Announces Quarterly Earnings Results

Northwest Bancshares (NASDAQ:NWBI) issued its quarterly earnings data on Monday. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23, Yahoo Finance reports. The firm had revenue of $188.20 million during the quarter, compared to the consensus estimate of $132.80 million. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.81%.

Northwest Bancshares Stock Down 0.5 %

Shares of NWBI opened at $11.00 on Wednesday. Northwest Bancshares has a 12 month low of $9.80 and a 12 month high of $13.07. The firm’s 50 day moving average is $11.30 and its 200-day moving average is $11.50. The stock has a market capitalization of $1.40 billion, a PE ratio of 10.68 and a beta of 0.60. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41.

Northwest Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.27%. Northwest Bancshares’s dividend payout ratio is presently 77.67%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler cut their price objective on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 target price (down from $13.00) on shares of Northwest Bancshares in a report on Tuesday.

Northwest Bancshares Company Profile

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.