Northwest Bancshares (NASDAQ:NWBI) announced its quarterly earnings results on Sunday. The savings and loans company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01, Fidelity Earnings reports. Northwest Bancshares had a return on equity of 7.20% and a net margin of 11.80%.
Shares of NASDAQ NWBI traded down $0.22 during midday trading on Tuesday, reaching $13.40. 526,597 shares of the company traded hands, compared to its average volume of 653,550. The firm has a market cap of $1.71 billion, a PE ratio of 23.93 and a beta of 0.68. The stock’s 50-day simple moving average is $13.05 and its 200-day simple moving average is $11.07. Northwest Bancshares has a 12 month low of $8.52 and a 12 month high of $16.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.99 and a current ratio of 0.99.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 15th. Shareholders of record on Thursday, February 4th will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, February 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.67%. Northwest Bancshares’s payout ratio is presently 72.38%.
In other Northwest Bancshares news, EVP Mark T. Reitzes purchased 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 28th. The stock was acquired at an average cost of $10.42 per share, with a total value of $31,260.00. Following the completion of the acquisition, the executive vice president now directly owns 3,625 shares of the company’s stock, valued at approximately $37,772.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy M. Hunter purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was acquired at an average cost of $10.55 per share, with a total value of $105,500.00. Over the last three months, insiders have acquired 14,700 shares of company stock valued at $156,701. Company insiders own 1.20% of the company’s stock.
NWBI has been the topic of several analyst reports. TheStreet upgraded Northwest Bancshares from a “c+” rating to a “b” rating in a report on Tuesday, November 10th. Piper Sandler upgraded shares of Northwest Bancshares from an “underweight” rating to a “neutral” rating and set a $10.00 price objective on the stock in a research note on Tuesday, October 27th. B. Riley raised their price objective on shares of Northwest Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday. Boenning Scattergood assumed coverage on shares of Northwest Bancshares in a research note on Tuesday, October 13th. They issued a “neutral” rating on the stock. Finally, Stephens assumed coverage on Northwest Bancshares in a research report on Wednesday, October 14th. They issued an “equal weight” rating and a $11.00 target price for the company. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $13.75.
Northwest Bancshares Company Profile
Northwest Bancshares, Inc operates as a holding company for Northwest Bank that offers various personal and business banking solutions. The company accepts various deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts. Its loan products include one-to-four family residential real estate, short-term consumer, multi-family residential and commercial real estate, commercial business, and residential mortgage loans; home equity lines of credit; and consumer loans comprising automobile, sales finance, unsecured personal, and credit card loans, as well as loans secured by deposit accounts.
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