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

Northwest Bancshares (NASDAQ:NWBI) announced its earnings results on Monday. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23, Yahoo Finance reports. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.81%. 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 NWBI traded down $0.06 during trading hours on Wednesday, reaching $10.94. The company had a trading volume of 813,625 shares, compared to its average volume of 810,130. The firm has a 50 day simple moving average of $11.30 and a 200-day simple moving average of $11.50. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 10.63 and a beta of 0.60. Northwest Bancshares has a 12-month low of $9.80 and a 12-month high of $13.07.

Northwest Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 7.31%. The ex-dividend date of this dividend is Wednesday, May 1st. Northwest Bancshares’s dividend payout ratio (DPR) is presently 77.67%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NWBI shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $12.00 target price (down previously from $13.00) on shares of Northwest Bancshares in a research report on Tuesday. Piper Sandler lowered their price target on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report 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.