Zacks: Analysts Expect Northwest Bancshares, Inc. (NWBI) Will Announce Earnings of $0.27 Per Share
Wall Street brokerages expect that Northwest Bancshares, Inc. (NASDAQ:NWBI) will post earnings per share of $0.27 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Northwest Bancshares’ earnings. The highest EPS estimate is $0.27 and the lowest is $0.26. Northwest Bancshares reported earnings per share of $0.25 in the same quarter last year, which suggests a positive year over year growth rate of 8%. The business is expected to issue its next quarterly earnings results on Monday, July 22nd.
On average, analysts expect that Northwest Bancshares will report full-year earnings of $1.05 per share for the current year, with EPS estimates ranging from $1.03 to $1.07. For the next year, analysts forecast that the company will report earnings of $1.08 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Wednesday, April 17th. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The firm had revenue of $109.64 million for the quarter, compared to analyst estimates of $110.59 million. Northwest Bancshares had a return on equity of 8.48% and a net margin of 22.08%. Northwest Bancshares’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 earnings per share.
In related news, VP Julia W. Mctavish sold 9,810 shares of the company’s stock in a transaction dated Thursday, January 24th. The stock was sold at an average price of $17.89, for a total value of $175,500.90. Following the completion of the sale, the vice president now owns 74,752 shares in the company, valued at $1,337,313.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Shawn O. Walker sold 1,780 shares of the company’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $18.68, for a total value of $33,250.40. Following the completion of the sale, the executive vice president now owns 35,412 shares of the company’s stock, valued at approximately $661,496.16. The disclosure for this sale can be found here. In the last three months, insiders sold 50,800 shares of company stock worth $913,355. Insiders own 1.40% of the company’s stock.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Northwest Bancshares by 2.6% during the fourth quarter. BlackRock Inc. now owns 15,127,626 shares of the savings and loans company’s stock valued at $256,260,000 after purchasing an additional 388,953 shares during the last quarter. Vanguard Group Inc increased its stake in Northwest Bancshares by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 9,931,921 shares of the savings and loans company’s stock worth $172,021,000 after acquiring an additional 163,989 shares during the period. Vanguard Group Inc. increased its stake in Northwest Bancshares by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,931,921 shares of the savings and loans company’s stock worth $172,021,000 after acquiring an additional 163,989 shares during the period. First Trust Advisors LP increased its stake in Northwest Bancshares by 5.6% during the 4th quarter. First Trust Advisors LP now owns 1,816,577 shares of the savings and loans company’s stock worth $30,773,000 after acquiring an additional 96,684 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in Northwest Bancshares by 5.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,774,327 shares of the savings and loans company’s stock worth $30,037,000 after acquiring an additional 85,906 shares during the period. Institutional investors and hedge funds own 74.22% of the company’s stock.
NASDAQ:NWBI traded down $0.09 during mid-day trading on Monday, reaching $17.12. 407,600 shares of the stock were exchanged, compared to its average volume of 549,113. The firm has a market cap of $1.78 billion, a P/E ratio of 16.65, a PEG ratio of 2.34 and a beta of 0.69. Northwest Bancshares has a 1-year low of $15.50 and a 1-year high of $18.81. The company has a quick ratio of 1.02, a current ratio of 1.00 and a debt-to-equity ratio of 0.18.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Wednesday, May 1st. Northwest Bancshares’s dividend payout ratio is currently 70.59%.
About Northwest Bancshares
Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.
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