Northwest Bancshares, Inc. Declares Quarterly Dividend of $0.20 (NASDAQ:NWBI)

Northwest Bancshares, Inc. (NASDAQ:NWBI) declared a quarterly dividend on Thursday, October 17th, Zacks reports. Shareholders of record on Friday, November 8th will be paid a dividend of 0.20 per share by the savings and loans company on Monday, November 18th. This represents a $0.80 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date is Friday, November 8th.

Northwest Bancshares has raised its dividend by an average of 1.7% per year over the last three years. Northwest Bancshares has a payout ratio of 78.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Northwest Bancshares to earn $1.05 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 76.2%.

Northwest Bancshares Stock Performance

Shares of NASDAQ NWBI opened at $13.40 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 17.63 and a beta of 0.62. The stock’s fifty day moving average price is $13.33 and its two-hundred day moving average price is $12.38. Northwest Bancshares has a one year low of $10.45 and a one year high of $14.55.

Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Tuesday, October 29th. The savings and loans company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Northwest Bancshares had a net margin of 13.19% and a return on equity of 8.24%. The company had revenue of $199.21 million for the quarter, compared to analysts’ expectations of $140.80 million. During the same period last year, the firm earned $0.31 earnings per share. On average, equities analysts forecast that Northwest Bancshares will post 1.02 EPS for the current year.

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.