Northwest Bancshares (NWBI) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Northwest Bancshares (NASDAQ:NWBI) released its quarterly earnings data on Wednesday. The savings and loans company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01), MarketWatch Earnings reports. Northwest Bancshares had a return on equity of 8.54% and a net margin of 22.57%. The business had revenue of $109.64 million during the quarter, compared to analysts’ expectations of $110.59 million. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Northwest Bancshares’s quarterly revenue was up 5.9% on a year-over-year basis.

Shares of NWBI stock opened at $17.28 on Thursday. Northwest Bancshares has a twelve month low of $15.50 and a twelve month high of $18.81. The stock has a market capitalization of $1.74 billion, a P/E ratio of 16.94, a PEG ratio of 2.29 and a beta of 0.69. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.02 and a quick ratio of 1.02.

Several brokerages recently weighed in on NWBI. Zacks Investment Research raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. BidaskClub downgraded shares of Northwest Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Northwest Bancshares in a research note on Wednesday.

In related news, Director Philip M. Tredway sold 39,210 shares of the business’s stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $17.97, for a total value of $704,603.70. Following the completion of the transaction, the director now owns 25,470 shares of the company’s stock, valued at approximately $457,695.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Julia W. Mctavish sold 9,810 shares of the business’s stock in a transaction dated Thursday, January 24th. The shares were sold at an average price of $17.89, for a total transaction of $175,500.90. Following the completion of the transaction, the vice president now directly owns 74,752 shares of the company’s stock, valued at approximately $1,337,313.28. The disclosure for this sale can be found here. Insiders sold a total of 50,800 shares of company stock valued at $913,355 in the last three months. 1.40% of the stock is currently owned by corporate insiders.

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Northwest Bancshares Company Profile

Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.

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Earnings History for Northwest Bancshares (NASDAQ:NWBI)

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