Equities analysts expect Northwest Bancshares, Inc. (NASDAQ:NWBI) to post sales of $106.47 million for the current quarter, Zacks reports. Two analysts have provided estimates for Northwest Bancshares’ earnings. The lowest sales estimate is $105.54 million and the highest is $107.39 million. Northwest Bancshares reported sales of $102.08 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.3%. The business is expected to report its next earnings results on Monday, April 23rd.
According to Zacks, analysts expect that Northwest Bancshares will report full-year sales of $106.47 million for the current financial year, with estimates ranging from $436.78 million to $441.22 million. For the next year, analysts anticipate that the business will report sales of $454.92 million per share, with estimates ranging from $451.24 million to $458.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last posted its earnings results on Monday, January 22nd. The savings and loans company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $107.15 million during the quarter, compared to analyst estimates of $108.15 million. Northwest Bancshares had a return on equity of 7.23% and a net margin of 20.11%.
In other Northwest Bancshares news, COO Ronald J. Seiffert purchased 6,300 shares of Northwest Bancshares stock in a transaction dated Tuesday, November 21st. The shares were acquired at an average cost of $16.30 per share, with a total value of $102,690.00. Following the completion of the transaction, the chief operating officer now owns 6,300 shares in the company, valued at approximately $102,690. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO William W. Harvey sold 10,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $17.28, for a total value of $172,800.00. Following the transaction, the chief financial officer now directly owns 158,649 shares in the company, valued at $2,741,454.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 9,300 shares of company stock worth $152,330 and have sold 50,964 shares worth $859,911. Corporate insiders own 2.00% of the company’s stock.
Several hedge funds have recently modified their holdings of NWBI. BlackRock Inc. increased its position in shares of Northwest Bancshares by 4.3% during the fourth quarter. BlackRock Inc. now owns 13,113,000 shares of the savings and loans company’s stock worth $219,380,000 after purchasing an additional 535,670 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Northwest Bancshares by 185.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 503,919 shares of the savings and loans company’s stock worth $8,431,000 after purchasing an additional 327,659 shares in the last quarter. Koch Industries Inc. acquired a new position in shares of Northwest Bancshares during the second quarter worth $237,000. Dean Investment Associates LLC increased its position in shares of Northwest Bancshares by 319.4% during the fourth quarter. Dean Investment Associates LLC now owns 267,159 shares of the savings and loans company’s stock worth $4,470,000 after purchasing an additional 203,459 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Northwest Bancshares by 33.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 562,856 shares of the savings and loans company’s stock valued at $9,416,000 after acquiring an additional 142,041 shares during the period. 65.19% of the stock is currently owned by institutional investors and hedge funds.
Northwest Bancshares (NASDAQ:NWBI) traded up $0.08 during trading on Thursday, reaching $17.15. The company’s stock had a trading volume of 774,998 shares, compared to its average volume of 627,375. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $1,761.10, a price-to-earnings ratio of 20.18, a P/E/G ratio of 1.67 and a beta of 0.64. Northwest Bancshares has a one year low of $14.95 and a one year high of $18.63.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, January 31st. This is an increase from Northwest Bancshares’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.97%. Northwest Bancshares’s dividend payout ratio is presently 73.91%.
Northwest Bancshares Company Profile
Northwest Bancshares, Inc (Northwest) is a savings and loan holding company. The Company’s principal business consists of attracting deposits and making loans secured by various types of collateral, including real estate and other assets in the markets in which it operates. Its segments include Community Banking and Consumer Finance.
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