Northwest Bancshares, Inc. to Issue Quarterly Dividend of $0.20 (NASDAQ:NWBI)

Northwest Bancshares, Inc. (NASDAQ:NWBI) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Shareholders of record on Thursday, May 2nd will be paid a dividend of 0.20 per share by the savings and loans company on Wednesday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 7.23%. The ex-dividend date of this dividend is Wednesday, May 1st.

Northwest Bancshares has increased its dividend by an average of 1.7% per year over the last three years. Northwest Bancshares has a dividend 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. Equities research analysts expect Northwest Bancshares to earn $1.02 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 78.4%.

Northwest Bancshares Stock Down 0.6 %

Shares of NASDAQ:NWBI opened at $11.06 on Tuesday. The company has a market capitalization of $1.41 billion, a PE ratio of 10.43 and a beta of 0.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.95. The business has a fifty day moving average price of $11.32 and a two-hundred day moving average price of $11.50. Northwest Bancshares has a 1 year low of $9.80 and a 1 year high of $13.07.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. Northwest Bancshares had a return on equity of 9.21% and a net margin of 19.23%. Analysts forecast that Northwest Bancshares will post 0.95 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Scott J. Watson acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were acquired at an average price of $12.90 per share, with a total value of $64,500.00. Following the acquisition, the executive vice president now owns 35,282 shares of the company’s stock, valued at approximately $455,137.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on NWBI. Keefe, Bruyette & Woods increased their price target on Northwest Bancshares from $12.00 to $13.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 23rd. Piper Sandler cut their price target on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday.

Northwest Bancshares Company Profile

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.