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

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

Northwest Bancshares Stock Down 0.5 %

NWBI stock opened at $11.00 on Wednesday. Northwest Bancshares has a twelve month low of $9.80 and a twelve month 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. The stock’s 50 day moving average is $11.30 and its 200-day moving average is $11.50. The firm has a market capitalization of $1.40 billion, a PE ratio of 10.68 and a beta of 0.60.

Northwest Bancshares Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Piper Sandler decreased their target price on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 target price (down previously from $13.00) on shares of Northwest Bancshares in a research note on Tuesday.

About Northwest Bancshares

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.