FY2024 EPS Estimates for Northwest Bancshares, Inc. Reduced by DA Davidson (NASDAQ:NWBI)

Northwest Bancshares, Inc. (NASDAQ:NWBI) – Equities research analysts at DA Davidson cut their FY2024 EPS estimates for Northwest Bancshares in a note issued to investors on Tuesday, April 23rd. DA Davidson analyst M. Navas now expects that the savings and loans company will post earnings of $0.91 per share for the year, down from their prior estimate of $1.00. The consensus estimate for Northwest Bancshares’ current full-year earnings is $0.95 per share.

NWBI has been the subject of a number of other reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $12.00 target price (down from $13.00) on shares of Northwest Bancshares in a report on Tuesday. Piper Sandler decreased 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.

Northwest Bancshares Price Performance

Northwest Bancshares stock opened at $10.94 on Thursday. Northwest Bancshares has a 1 year low of $9.80 and a 1 year high of $13.07. The firm has a 50 day moving average price of $11.29 and a 200 day moving average price of $11.50. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 10.62 and a beta of 0.60. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.96.

Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.77%. The firm had revenue of $188.20 million during the quarter, compared to the consensus estimate of $132.80 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC boosted its stake in Northwest Bancshares by 164.6% during the 4th quarter. CWM LLC now owns 4,918 shares of the savings and loans company’s stock valued at $61,000 after acquiring an additional 3,059 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Northwest Bancshares by 1,148.0% during the 4th quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loans company’s stock valued at $64,000 after acquiring an additional 4,684 shares during the last quarter. IVC Wealth Advisors LLC bought a new position in Northwest Bancshares during the 1st quarter valued at $124,000. Kestra Private Wealth Services LLC bought a new position in Northwest Bancshares during the 3rd quarter valued at $125,000. Finally, First Merchants Corp bought a new position in Northwest Bancshares during the 4th quarter valued at $126,000. 66.32% of the stock is currently owned by hedge funds and other institutional investors.

Northwest Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be paid a $0.20 dividend. The ex-dividend date is Wednesday, May 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.31%. Northwest Bancshares’s dividend payout ratio (DPR) is presently 77.67%.

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.