Northwest Bancshares (NASDAQ:NWBI) Releases Quarterly Earnings Results, Meets Expectations

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

Northwest Bancshares Trading Down 0.5 %

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

Northwest Bancshares Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $0.80 annualized dividend and a yield of 7.27%. Northwest Bancshares’s payout ratio is currently 77.67%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler reduced their price target on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $12.00 price target (down from $13.00) on shares of Northwest Bancshares in a report on Tuesday.

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Northwest Bancshares Company Profile

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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.

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Earnings History for Northwest Bancshares (NASDAQ:NWBI)

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