Northwest Bancshares, Inc. (NWBI) Expected to Announce Earnings of $0.24 Per Share

Equities research analysts forecast that Northwest Bancshares, Inc. (NASDAQ:NWBI) will report $0.24 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Northwest Bancshares’ earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.25. Northwest Bancshares also reported earnings per share of $0.24 in the same quarter last year. The company is scheduled to report its next quarterly earnings report on Wednesday, April 17th.

According to Zacks, analysts expect that Northwest Bancshares will report full year earnings of $1.05 per share for the current year, with EPS estimates ranging from $1.03 to $1.07. For the next year, analysts anticipate that the business will post earnings of $1.08 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Northwest Bancshares.

Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings results on Tuesday, January 22nd. The savings and loans company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $110.08 million for the quarter, compared to the consensus estimate of $109.58 million. Northwest Bancshares had a net margin of 22.57% and a return on equity of 8.54%.

NWBI has been the topic of several research analyst reports. BidaskClub cut Northwest Bancshares from a “strong-buy” rating to a “buy” rating in a report on Friday, November 30th. Zacks Investment Research raised Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, February 7th.

Shares of NASDAQ NWBI traded down $0.11 during midday trading on Friday, hitting $16.97. 598,611 shares of the stock traded hands, compared to its average volume of 611,275. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 2.32 and a beta of 0.71. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.02 and a quick ratio of 1.02. Northwest Bancshares has a one year low of $15.50 and a one year high of $18.81.

In other news, VP Julia W. Mctavish sold 9,810 shares of the company’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $17.89, for a total value of $175,500.90. Following the completion of the sale, the vice president now directly owns 74,752 shares in the company, valued at approximately $1,337,313.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Shawn O. Walker sold 1,780 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $18.68, for a total value of $33,250.40. Following the completion of the sale, the executive vice president now owns 35,412 shares of the company’s stock, valued at $661,496.16. The disclosure for this sale can be found here. Insiders have sold a total of 50,800 shares of company stock worth $913,355 over the last three months. Insiders own 1.40% of the company’s stock.

Several large investors have recently bought and sold shares of NWBI. Norges Bank purchased a new stake in shares of Northwest Bancshares in the 4th quarter worth $22,234,000. Oregon Public Employees Retirement Fund purchased a new stake in shares of Northwest Bancshares in the 4th quarter worth $39,000. BlackRock Inc. increased its stake in shares of Northwest Bancshares by 4.4% in the 3rd quarter. BlackRock Inc. now owns 14,738,673 shares of the savings and loans company’s stock worth $255,274,000 after purchasing an additional 617,235 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Northwest Bancshares by 91.1% in the 4th quarter. Acadian Asset Management LLC now owns 844,444 shares of the savings and loans company’s stock worth $14,305,000 after purchasing an additional 402,456 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Northwest Bancshares by 26.5% in the 4th quarter. Bank of America Corp DE now owns 943,867 shares of the savings and loans company’s stock worth $15,989,000 after purchasing an additional 197,440 shares in the last quarter. Hedge funds and other institutional investors own 74.22% of the company’s stock.

Northwest Bancshares Company Profile

Northwest Bancshares, Inc operates as a holding company for Northwest Bank that offers various personal and business banking solutions. The company accepts various deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts. Its loan products include one-to-four family residential real estate, short-term consumer, multi-family residential and commercial real estate, commercial business, and residential mortgage loans; home equity lines of credit; and consumer loans comprising automobile, sales finance, unsecured personal, and credit card loans, as well as loans secured by deposit accounts.

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

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