Zacks: Analysts Expect Northwest Bancshares, Inc. (NWBI) Will Announce Earnings of $0.22 Per Share
Wall Street analysts predict that Northwest Bancshares, Inc. (NASDAQ:NWBI) will post earnings of $0.22 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Northwest Bancshares’ earnings. Northwest Bancshares also reported earnings of $0.22 per share in the same quarter last year. The firm is scheduled to report its next quarterly earnings results on Monday, October 23rd.
On average, analysts expect that Northwest Bancshares will report full-year earnings of $0.91 per share for the current fiscal year, with EPS estimates ranging from $0.90 to $0.92. For the next financial year, analysts forecast that the company will post earnings of $0.95 per share, with EPS estimates ranging from $0.90 to $1.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that cover Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings results on Monday, July 24th. The savings and loans company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Northwest Bancshares had a net margin of 18.91% and a return on equity of 7.45%. The business had revenue of $124.21 million during the quarter, compared to analyst estimates of $116.82 million.
Several equities research analysts have recently weighed in on NWBI shares. BidaskClub raised shares of Northwest Bancshares from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Zacks Investment Research lowered shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock currently has a consensus rating of “Sell” and a consensus target price of $17.00.
Northwest Bancshares (NASDAQ NWBI) traded up 0.12% on Friday, hitting $16.55. 40,342 shares of the stock traded hands. The stock has a 50-day moving average of $15.76 and a 200-day moving average of $16.04. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 19.29 and a beta of 0.63. Northwest Bancshares has a 12-month low of $14.95 and a 12-month high of $19.10.
In other news, EVP Andrew Young sold 5,625 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $16.18, for a total transaction of $91,012.50. Following the completion of the transaction, the executive vice president now directly owns 60,254 shares of the company’s stock, valued at approximately $974,909.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Philip M. Tredway sold 13,560 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $16.13, for a total transaction of $218,722.80. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its stake in shares of Northwest Bancshares by 2.5% in the second quarter. Public Employees Retirement System of Ohio now owns 7,284 shares of the savings and loans company’s stock valued at $114,000 after buying an additional 180 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Northwest Bancshares by 32.9% during the second quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock worth $133,000 after buying an additional 2,112 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Northwest Bancshares during the first quarter worth $140,000. Shelton Capital Management acquired a new stake in shares of Northwest Bancshares during the second quarter worth $158,000. Finally, Riverhead Capital Management LLC lifted its holdings in shares of Northwest Bancshares by 53.9% during the second quarter. Riverhead Capital Management LLC now owns 10,160 shares of the savings and loans company’s stock worth $159,000 after buying an additional 3,560 shares in the last quarter. 65.39% of the stock is owned by institutional investors and hedge funds.
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Northwest Bancshares Company Profile
Northwest Bancshares, Inc (Northwest) is a savings and loan holding company. The Company’s principal business consists of attracting deposits and making loans secured by various types of collateral, including real estate and other assets in the markets in which it operates. Its segments include Community Banking and Consumer Finance.
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