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

Northwest Bancshares (NASDAQ:NWBIGet Free Report) 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.

Check Out Our Latest Stock Analysis on Northwest Bancshares

About Northwest Bancshares

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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.

Further Reading

Earnings History for Northwest Bancshares (NASDAQ:NWBI)

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