Northwest Bancshares, Inc. (NASDAQ:NWBI – Get Free Report) announced a quarterly dividend on Monday, April 22nd, Zacks reports. Investors of record on Thursday, May 2nd will be given a dividend of 0.20 per share by the savings and loans company on Wednesday, May 15th. This represents a $0.80 annualized dividend and a dividend yield of 7.45%. The ex-dividend date is Wednesday, May 1st.
Northwest Bancshares has increased its dividend by an average of 1.7% annually over the last three years. Northwest Bancshares has a payout ratio of 78.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Northwest Bancshares to earn $1.00 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 80.0%.
Northwest Bancshares Trading Down 0.7 %
NASDAQ NWBI opened at $10.74 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.42. Northwest Bancshares has a twelve month low of $9.80 and a twelve month high of $13.07. The firm has a market capitalization of $1.37 billion, a PE ratio of 10.43 and a beta of 0.60. The stock’s 50 day moving average is $11.22 and its 200 day moving average is $11.51.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $12.00 price objective (down previously from $13.00) on shares of Northwest Bancshares in a research note on Tuesday, April 23rd. Piper Sandler lowered their price objective on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, April 23rd.
Get Our Latest Analysis on Northwest Bancshares
About Northwest Bancshares
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.
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