Brokerages Anticipate Northwest Bancshares (NWBI) Will Post Quarterly Sales of $106.47 Million

Analysts expect Northwest Bancshares (NASDAQ:NWBI) to announce $106.47 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Northwest Bancshares’ earnings, with the highest sales estimate coming in at $107.39 million and the lowest estimate coming in at $105.54 million. Northwest Bancshares posted sales of $102.08 million during the same quarter last year, which suggests a positive year over year growth rate of 4.3%. The business is expected to issue its next quarterly earnings report on Monday, April 23rd.

On average, 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’ sales calculations are an average based on a survey of sell-side analysts that follow Northwest Bancshares.

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Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings data on Monday, January 22nd. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Northwest Bancshares had a return on equity of 7.23% and a net margin of 20.11%. The firm had revenue of $107.15 million during the quarter, compared to analysts’ expectations of $108.15 million.

A number of equities analysts have recently issued reports on NWBI shares. BidaskClub cut Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $17.00 price objective on shares of Northwest Bancshares in a report on Tuesday, February 27th. Zacks Investment Research upgraded Northwest Bancshares from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a report on Wednesday, January 3rd. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Northwest Bancshares in a report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $17.33.

NWBI opened at $16.31 on Friday. Northwest Bancshares has a 12-month low of $14.95 and a 12-month high of $17.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $1,694.58, a PE ratio of 19.42, a PEG ratio of 1.60 and a beta of 0.63.

In related news, EVP Jonathan P. Scalise sold 19,172 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $17.01, for a total transaction of $326,115.72. Following the completion of the sale, the executive vice president now directly owns 35,202 shares in the company, valued at approximately $598,786.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Philip M. Tredway sold 5,714 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $17.18, for a total value of $98,166.52. Following the sale, the director now owns 21,888 shares of the company’s stock, valued at $376,035.84. The disclosure for this sale can be found here. Insiders have sold a total of 38,371 shares of company stock valued at $647,733 over the last 90 days. 2.20% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. CNB Bank purchased a new stake in Northwest Bancshares during the 4th quarter valued at about $105,000. Raymond James & Associates purchased a new stake in Northwest Bancshares during the 4th quarter valued at about $184,000. Algert Global LLC purchased a new stake in Northwest Bancshares during the 3rd quarter valued at about $205,000. CIBC Asset Management Inc purchased a new stake in Northwest Bancshares during the 4th quarter valued at about $228,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in Northwest Bancshares during the 4th quarter valued at about $261,000. Institutional investors own 67.67% of the company’s stock.

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About Northwest Bancshares

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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Earnings History and Estimates for Northwest Bancshares (NASDAQ:NWBI)

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