Equities Analysts Offer Predictions for Northwest Bancshares, Inc.’s Q1 2023 Earnings (NASDAQ:NWBI)

Northwest Bancshares, Inc. (NASDAQ:NWBIGet Rating) – Equities research analysts at DA Davidson issued their Q1 2023 EPS estimates for Northwest Bancshares in a research note issued to investors on Tuesday, January 24th. DA Davidson analyst M. Navas anticipates that the savings and loans company will post earnings per share of $0.28 for the quarter. The consensus estimate for Northwest Bancshares’ current full-year earnings is $1.16 per share.

NWBI has been the topic of several other reports. StockNews.com assumed coverage on shares of Northwest Bancshares in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Janney Montgomery Scott assumed coverage on shares of Northwest Bancshares in a report on Thursday, September 29th. They issued a “neutral” rating and a $15.00 price target on the stock. Finally, Piper Sandler reduced their price target on shares of Northwest Bancshares to $12.00 in a report on Wednesday, October 5th.

Northwest Bancshares Stock Up 1.4 %

Shares of NWBI stock opened at $13.75 on Wednesday. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 13.61 and a beta of 0.60. Northwest Bancshares has a one year low of $12.04 and a one year high of $15.35. The company’s fifty day moving average price is $14.31 and its 200-day moving average price is $14.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.91.

Northwest Bancshares (NASDAQ:NWBIGet Rating) last released its quarterly earnings results on Monday, January 23rd. The savings and loans company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). Northwest Bancshares had a return on equity of 9.16% and a net margin of 23.88%. The business had revenue of $155.71 million during the quarter, compared to the consensus estimate of $142.80 million.

Institutional Investors Weigh In On Northwest Bancshares

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Northwest Bancshares by 0.6% in the 3rd quarter. BlackRock Inc. now owns 18,628,521 shares of the savings and loans company’s stock valued at $251,673,000 after buying an additional 105,943 shares during the period. Vanguard Group Inc. raised its holdings in shares of Northwest Bancshares by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 14,374,118 shares of the savings and loans company’s stock valued at $194,195,000 after purchasing an additional 368,801 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Northwest Bancshares by 2.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 8,772,097 shares of the savings and loans company’s stock valued at $118,513,000 after purchasing an additional 237,626 shares in the last quarter. State Street Corp raised its holdings in shares of Northwest Bancshares by 59.4% in the 1st quarter. State Street Corp now owns 8,048,444 shares of the savings and loans company’s stock valued at $108,734,000 after purchasing an additional 2,999,249 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Northwest Bancshares by 8.7% in the 1st quarter. Invesco Ltd. now owns 3,966,563 shares of the savings and loans company’s stock valued at $53,588,000 after purchasing an additional 316,431 shares in the last quarter. 64.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Thomas K. Iv Creal sold 4,097 shares of Northwest Bancshares stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $15.12, for a total transaction of $61,946.64. Following the completion of the transaction, the executive vice president now directly owns 24,289 shares of the company’s stock, valued at approximately $367,249.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Northwest Bancshares news, EVP Thomas K. Iv Creal sold 4,097 shares of the business’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $15.12, for a total value of $61,946.64. Following the completion of the sale, the executive vice president now directly owns 24,289 shares of the company’s stock, valued at approximately $367,249.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO William W. Harvey sold 28,252 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $15.04, for a total transaction of $424,910.08. Following the completion of the sale, the chief financial officer now directly owns 191,895 shares of the company’s stock, valued at $2,886,100.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,154 shares of company stock valued at $869,836. Company insiders own 1.00% of the company’s stock.

Northwest Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Thursday, February 2nd will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, February 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.82%. Northwest Bancshares’s dividend payout ratio is presently 79.21%.

About Northwest Bancshares

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Northwest Bancshares, Inc operates as the 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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