Wall Street analysts forecast that Northwest Bancshares, Inc. (NASDAQ:NWBI) will post $111.87 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Northwest Bancshares’ earnings. The lowest sales estimate is $111.76 million and the highest is $111.98 million. Northwest Bancshares reported sales of $103.56 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8%. The company is expected to report its next quarterly earnings report on Wednesday, April 17th.
According to Zacks, analysts expect that Northwest Bancshares will report full year sales of $465.61 million for the current year, with estimates ranging from $464.47 million to $466.76 million. For the next fiscal year, analysts forecast that the business will post sales of $477.78 million, with estimates ranging from $472.43 million to $483.13 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings results on Tuesday, January 22nd. The savings and loans company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.01). The business had revenue of $110.08 million for the quarter, compared to analyst estimates of $109.58 million. Northwest Bancshares had a return on equity of 8.59% and a net margin of 22.57%.
Shares of NASDAQ NWBI traded down $0.16 during mid-day trading on Friday, reaching $17.69. 509,900 shares of the company’s stock were exchanged, compared to its average volume of 529,794. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $1.92 billion, a P/E ratio of 18.26, a P/E/G ratio of 2.53 and a beta of 0.69. Northwest Bancshares has a twelve month low of $15.50 and a twelve month high of $18.81.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Friday, February 1st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, January 31st. This is an increase from Northwest Bancshares’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.07%. Northwest Bancshares’s dividend payout ratio (DPR) is presently 70.59%.
In related news, EVP Shawn O. Walker sold 1,780 shares of the stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $18.68, for a total transaction of $33,250.40. Following the completion of the transaction, the executive vice president now directly owns 35,412 shares in the company, valued at $661,496.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Julia W. Mctavish sold 9,810 shares of the stock in a transaction dated Thursday, January 24th. The stock was sold at an average price of $17.89, for a total value of $175,500.90. Following the transaction, the vice president now owns 74,752 shares of the company’s stock, valued at $1,337,313.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,800 shares of company stock valued at $913,355. 2.20% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund bought a new position in Northwest Bancshares in the fourth quarter valued at approximately $39,000. Bank of Montreal Can grew its stake in Northwest Bancshares by 13.9% in the fourth quarter. Bank of Montreal Can now owns 5,588 shares of the savings and loans company’s stock valued at $94,000 after purchasing an additional 683 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Northwest Bancshares in the fourth quarter valued at approximately $188,000. HRT Financial LLC bought a new position in Northwest Bancshares in the fourth quarter valued at approximately $215,000. Finally, Verity & Verity LLC grew its stake in Northwest Bancshares by 15.6% in the fourth quarter. Verity & Verity LLC now owns 15,720 shares of the savings and loans company’s stock valued at $266,000 after purchasing an additional 2,125 shares in the last quarter. Hedge funds and other institutional investors own 73.94% of the company’s stock.
Northwest Bancshares Company Profile
Northwest Bancshares, Inc operates as a bank holding company for Northwest Savings Bank that offers various personal and business banking solutions in the United States. The company offers personal and business deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts.
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