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

Northwest Bancshares (NASDAQ:NWBI) announced its quarterly earnings data on Monday. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23, Yahoo Finance reports. The company had revenue of $188.20 million for the quarter, compared to the consensus estimate 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. The stock’s 50 day simple moving average is $11.30 and its 200 day simple moving average is $11.50. Northwest Bancshares has a fifty-two week low of $9.80 and a fifty-two week high of $13.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market cap of $1.40 billion, a P/E ratio of 10.68 and a beta of 0.60.

Northwest Bancshares Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NWBI. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $12.00 price objective (down from $13.00) on shares of Northwest Bancshares in a research note on Tuesday. Piper Sandler dropped their price objective on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock 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.