Analysts Expect Northwest Bancshares, Inc. (NWBI) to Announce $0.21 Earnings Per Share
Equities research analysts expect Northwest Bancshares, Inc. (NASDAQ:NWBI) to announce earnings per share (EPS) of $0.21 for the current quarter, Zacks reports. Two analysts have provided estimates for Northwest Bancshares’ earnings. Northwest Bancshares reported earnings of $0.25 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 16%. The business is scheduled to announce its next earnings results on Monday, January 22nd.
According to Zacks, analysts expect that Northwest Bancshares will report full year earnings of $0.90 per share for the current financial year. For the next financial year, analysts forecast that the business will report earnings of $1.02 per share, with EPS estimates ranging from $0.85 to $1.19. Zacks’ EPS averages are a mean average based on a survey of analysts that cover Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings data on Monday, October 23rd. The savings and loans company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. Northwest Bancshares had a return on equity of 7.54% and a net margin of 20.59%. The company had revenue of $107.83 million during the quarter, compared to analyst estimates of $106.63 million.
A number of research firms recently weighed in on NWBI. Zacks Investment Research raised Northwest Bancshares from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research report on Wednesday, January 3rd. BidaskClub raised Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Boenning Scattergood reaffirmed a “hold” rating on shares of Northwest Bancshares in a research report on Tuesday, October 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $16.00 price objective on shares of Northwest Bancshares in a research report on Sunday, October 8th. Five research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Northwest Bancshares has an average rating of “Hold” and an average price target of $17.25.
Northwest Bancshares (NASDAQ NWBI) traded up $0.05 during mid-day trading on Wednesday, reaching $16.97. The company had a trading volume of 363,916 shares, compared to its average volume of 506,984. Northwest Bancshares has a one year low of $14.95 and a one year high of $18.63. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.19. The company has a market cap of $1,736.34, a price-to-earnings ratio of 18.05, a PEG ratio of 1.66 and a beta of 0.63.
In other Northwest Bancshares news, EVP Gerald J. Ritzert sold 9,592 shares of Northwest Bancshares stock in a transaction on Monday, December 11th. The stock was sold at an average price of $16.57, for a total value of $158,939.44. Following the completion of the sale, the executive vice president now owns 50,657 shares of the company’s stock, valued at approximately $839,386.49. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan P. Scalise sold 6,047 shares of Northwest Bancshares stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $17.21, for a total value of $104,068.87. Following the completion of the sale, the executive vice president now directly owns 18,402 shares of the company’s stock, valued at approximately $316,698.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,639 shares of company stock valued at $435,808. 2.00% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of NWBI. Renaissance Technologies LLC increased its holdings in shares of Northwest Bancshares by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,644,554 shares of the savings and loans company’s stock worth $41,281,000 after purchasing an additional 576,154 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Northwest Bancshares by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,574,522 shares of the savings and loans company’s stock worth $133,848,000 after purchasing an additional 367,413 shares in the last quarter. Koch Industries Inc. bought a new stake in shares of Northwest Bancshares in the 2nd quarter worth $237,000. Citadel Advisors LLC increased its holdings in shares of Northwest Bancshares by 232.1% in the 2nd quarter. Citadel Advisors LLC now owns 301,147 shares of the savings and loans company’s stock worth $4,701,000 after purchasing an additional 210,455 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Northwest Bancshares in the 3rd quarter worth $3,044,000. 64.51% of the stock is owned by institutional investors and hedge funds.
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Northwest Bancshares Company Profile
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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