Northwest Bancshares (NASDAQ:NWBI) Issues Earnings Results

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, hitting analysts’ consensus estimates of $0.23, Yahoo Finance reports. Northwest Bancshares had a return on equity of 8.81% and a net margin of 17.84%. The business had revenue of $188.20 million for the quarter, compared to analyst estimates of $132.80 million.

Northwest Bancshares Price Performance

Shares of NASDAQ NWBI opened at $11.00 on Wednesday. The business’s 50 day moving average price is $11.30 and its 200 day moving average price is $11.50. The firm has a market cap 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 Dividend Announcement

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

Wall Street Analyst Weigh In

NWBI has been the topic of a number of research analyst reports. Piper Sandler dropped their price target on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods restated a “market perform” rating and set a $12.00 price target (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.