Boenning Scattergood Analysts Cut Earnings Estimates for Northwest Bancshares, Inc. (NASDAQ:NWBI)

Northwest Bancshares, Inc. (NASDAQ:NWBI – Get Rating) – Research analysts at Boenning Scattergood reduced their Q2 2022 EPS estimates for shares of Northwest Bancshares in a report issued on Tuesday, April 26th. Boenning Scattergood analyst D. Cardenas now forecasts that the savings and loans company will post earnings of $0.22 per share for the quarter, down from their previous estimate of $0.23. Boenning Scattergood also issued estimates for Northwest Bancshares’ Q4 2022 earnings at $0.27 EPS.

Northwest Bancshares (NASDAQ:NWBI – Get Rating) last posted its quarterly earnings data on Monday, April 25th. The savings and loans company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Northwest Bancshares had a return on equity of 9.86% and a net margin of 27.49%.

NWBI has been the subject of several other reports. StockNews.com started coverage on Northwest Bancshares in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research downgraded Northwest Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, March 30th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Northwest Bancshares has an average rating of “Hold” and an average target price of $14.01.

NWBI stock opened at $12.85 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average price of $13.64 and a 200-day moving average price of $13.94. The firm has a market cap of $1.63 billion, a PE ratio of 10.62 and a beta of 0.55. Northwest Bancshares has a 1-year low of $12.37 and a 1-year high of $15.15.

Hedge funds have recently modified their holdings of the business. CWM LLC grew its position in Northwest Bancshares by 125.1% in the first quarter. CWM LLC now owns 2,530 shares of the savings and loans company’s stock worth $34,000 after acquiring an additional 1,406 shares in the last quarter. Confluence Wealth Services Inc. purchased a new stake in Northwest Bancshares during the fourth quarter valued at about $36,000. Point72 Hong Kong Ltd boosted its position in Northwest Bancshares by 87.1% during the third quarter. Point72 Hong Kong Ltd now owns 4,787 shares of the savings and loans company’s stock valued at $64,000 after buying an additional 2,229 shares during the period. US Asset Management LLC purchased a new stake in Northwest Bancshares during the third quarter valued at about $78,000. Finally, First Citizens Bank & Trust Co. bought a new position in shares of Northwest Bancshares during the fourth quarter valued at about $146,000. 60.52% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Sonia M. Probst sold 6,022 shares of Northwest Bancshares stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $13.99, for a total value of $84,247.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by insiders.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Thursday, May 5th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.23%. Northwest Bancshares’s payout ratio is presently 66.12%.

Northwest Bancshares Company Profile (Get Rating)

Northwest Bancshares, Inc operates as the 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.

Featured Articles