Northwest Bancshares, Inc. (NASDAQ:NWBI) Announces $0.20 Quarterly Dividend

Northwest Bancshares, Inc. (NASDAQ:NWBI) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Investors of record on Friday, November 8th will be given a dividend of 0.20 per share by the savings and loans company on Monday, November 18th. This represents a $0.80 annualized dividend and a yield of 5.94%. The ex-dividend date is Friday, November 8th.

Northwest Bancshares has raised its dividend payment by an average of 1.7% annually over the last three years. Northwest Bancshares has a payout ratio of 78.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Northwest Bancshares to earn $1.04 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 76.9%.

Northwest Bancshares Price Performance

Northwest Bancshares stock opened at $13.46 on Thursday. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 16.62 and a beta of 0.62. Northwest Bancshares has a 52 week low of $10.09 and a 52 week high of $14.55. The business’s 50-day moving average price is $13.35 and its 200 day moving average price is $12.30. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.31.

Northwest Bancshares (NASDAQ:NWBI) last posted its earnings results on Tuesday, October 29th. The savings and loans company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. The firm had revenue of $199.21 million for the quarter, compared to analysts’ expectations of $140.80 million. Northwest Bancshares had a return on equity of 8.72% and a net margin of 14.28%. During the same period last year, the firm earned $0.31 EPS. As a group, sell-side analysts anticipate that Northwest Bancshares will post 0.97 earnings per share for the current year.

Northwest Bancshares Company Profile

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.