Northwest Bancshares (NASDAQ:NWBI) Announces Earnings Results

Northwest Bancshares (NASDAQ:NWBI) released its earnings results on Monday. The savings and loans company reported $0.23 EPS for the quarter, hitting analysts’ consensus estimates of $0.23, Yahoo Finance reports. The company had revenue of $188.20 million for 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 Price Performance

Shares of NASDAQ NWBI traded down $0.13 during midday trading on Wednesday, hitting $10.87. 271,764 shares of the company’s stock were exchanged, compared to its average volume of 807,318. Northwest Bancshares has a 12-month low of $9.80 and a 12-month high of $13.07. 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 cap of $1.38 billion, a price-to-earnings ratio of 10.50 and a beta of 0.60. The business’s fifty day moving average price is $11.30 and its two-hundred day moving average price is $11.50.

Northwest Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 7.36%. The ex-dividend date of this dividend is Wednesday, May 1st. Northwest Bancshares’s payout ratio is 77.67%.

Analyst Ratings Changes

NWBI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $12.00 target price (down from $13.00) on shares of Northwest Bancshares in a research note on Tuesday. Piper Sandler lowered 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.