Q2 2023 EPS Estimates for Northwest Bancshares, Inc. Decreased by Analyst (NASDAQ:NWBI)

Northwest Bancshares, Inc. (NASDAQ:NWBI – Get Rating) – Stock analysts at B. Riley decreased their Q2 2023 EPS estimates for shares of Northwest Bancshares in a report released on Monday, July 25th. B. Riley analyst S. Moss now anticipates that the savings and loans company will earn $0.23 per share for the quarter, down from their prior forecast of $0.24. The consensus estimate for Northwest Bancshares’ current full-year earnings is $0.95 per share.

Several other analysts have also recently commented on the stock. StockNews.com began coverage on shares of Northwest Bancshares in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler downgraded shares of Northwest Bancshares from a “neutral” rating to an “underweight” rating and cut their price target for the company from $14.00 to $12.00 in a report on Friday, May 6th. Finally, DA Davidson reiterated a “neutral” rating on shares of Northwest Bancshares in a report on Wednesday.

Northwest Bancshares Stock Up 2.2 %

NWBI stock opened at $14.15 on Thursday. Northwest Bancshares has a one year low of $12.04 and a one year high of $15.15. The stock has a market capitalization of $1.79 billion, a PE ratio of 14.29 and a beta of 0.53. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 0.91. The company has a fifty day moving average of $12.78 and a 200-day moving average of $13.34.

Northwest Bancshares (NASDAQ:NWBI – Get Rating) last released its earnings results on Monday, July 25th. The savings and loans company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. Northwest Bancshares had a net margin of 24.27% and a return on equity of 8.15%.

Northwest Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Thursday, August 4th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.65%. Northwest Bancshares’s dividend payout ratio is presently 80.81%.

Insider Activity

In other Northwest Bancshares news, Director Deborah J. Esq. Chadsey sold 7,200 shares of the firm’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $12.50, for a total transaction of $90,000.00. Following the completion of the transaction, the director now directly owns 30,746 shares in the company, valued at approximately $384,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Northwest Bancshares news, Director Deborah J. Esq. Chadsey sold 7,200 shares of the firm’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $12.50, for a total transaction of $90,000.00. Following the completion of the transaction, the director now directly owns 30,746 shares in the company, valued at approximately $384,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ronald B. Andzelik sold 7,590 shares of the firm’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $12.58, for a total transaction of $95,482.20. Following the transaction, the executive vice president now owns 57,102 shares of the company’s stock, valued at $718,343.16. The disclosure for this sale can be found here. Insiders sold 15,905 shares of company stock worth $199,712 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northwest Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of NWBI. State Street Corp grew its holdings in shares of Northwest Bancshares by 59.4% during the first quarter. State Street Corp now owns 8,048,444 shares of the savings and loans company’s stock worth $108,734,000 after buying an additional 2,999,249 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Northwest Bancshares by 84.5% during the first quarter. Victory Capital Management Inc. now owns 1,341,413 shares of the savings and loans company’s stock worth $17,009,000 after buying an additional 614,164 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Northwest Bancshares by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 8,116,084 shares of the savings and loans company’s stock worth $109,649,000 after buying an additional 328,495 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Northwest Bancshares by 8.7% during the first quarter. Invesco Ltd. now owns 3,966,563 shares of the savings and loans company’s stock worth $53,588,000 after buying an additional 316,431 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Northwest Bancshares by 2.1% in the first quarter. Vanguard Group Inc. now owns 13,896,726 shares of the savings and loans company’s stock worth $187,745,000 after acquiring an additional 284,414 shares during the last quarter. 61.18% of the stock is currently owned by hedge funds and other institutional investors.

Northwest Bancshares Company Profile

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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.