Northwest Bancshares (NASDAQ:NWBI) Releases Quarterly Earnings Results, Hits Estimates

Northwest Bancshares (NASDAQ:NWBI) released its quarterly 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 firm had revenue of $188.20 million during the quarter, compared to the consensus estimate of $132.80 million.

Northwest Bancshares Price Performance

Shares of NASDAQ NWBI opened at $11.00 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $1.40 billion, a PE ratio of 10.68 and a beta of 0.60. The firm has a fifty day simple moving average of $11.30 and a 200 day simple moving average of $11.50. Northwest Bancshares has a twelve month low of $9.80 and a twelve 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. Investors of record on Thursday, May 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 7.27%. The ex-dividend date is Wednesday, May 1st. Northwest Bancshares’s dividend payout ratio is presently 77.67%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NWBI shares. Piper Sandler lowered their target price on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $12.00 target price (down previously from $13.00) on shares of Northwest Bancshares 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.