Northwest Bancshares (NASDAQ:NWBI) Issues Quarterly Earnings Results, Hits Estimates

Northwest Bancshares (NASDAQ:NWBIGet Free Report) posted its quarterly earnings results on Monday. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23, Yahoo Finance reports. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.81%. The firm had revenue of $188.20 million during the quarter, compared to analyst estimates of $132.80 million.

Northwest Bancshares Price Performance

NWBI opened at $11.00 on Wednesday. Northwest Bancshares has a 52 week low of $9.80 and a 52 week high of $13.07. The firm has a market capitalization of $1.40 billion, a PE ratio of 10.68 and a beta of 0.60. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.95 and a current ratio of 0.96. The company has a fifty day moving average price of $11.30 and a two-hundred day moving average price of $11.50.

Northwest Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, May 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 7.27%. The ex-dividend date is Wednesday, May 1st. Northwest Bancshares’s dividend payout ratio is presently 77.67%.

Analysts Set New Price Targets

Several analysts have recently weighed in on NWBI shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price objective (down previously from $13.00) on shares of Northwest Bancshares in a report on Tuesday. Piper Sandler dropped their price objective on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday.

Read Our Latest Stock Report on Northwest Bancshares

About Northwest Bancshares

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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.

Further Reading

Earnings History for Northwest Bancshares (NASDAQ:NWBI)

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