Northwest Bancshares, Inc. to Post FY2024 Earnings of $0.91 Per Share, DA Davidson Forecasts (NASDAQ:NWBI)

Northwest Bancshares, Inc. (NASDAQ:NWBI) – Equities researchers at DA Davidson dropped their FY2024 earnings per share estimates for Northwest Bancshares in a research report issued to clients and investors on Tuesday, April 23rd. DA Davidson analyst M. Navas now forecasts that the savings and loans company will earn $0.91 per share for the year, down from their prior estimate of $1.00. The consensus estimate for Northwest Bancshares’ current full-year earnings is $0.95 per share.

Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings results on Monday, April 22nd. The savings and loans company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. Northwest Bancshares had a return on equity of 8.77% and a net margin of 17.84%. The company had revenue of $188.20 million during the quarter, compared to analyst estimates of $132.80 million.

Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods restated a “market perform” rating and set a $12.00 price objective (down from $13.00) on shares of Northwest Bancshares in a research report on Tuesday. Piper Sandler decreased their price objective on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday.

Northwest Bancshares Trading Down 0.5 %

Shares of NWBI stock opened at $10.89 on Thursday. Northwest Bancshares has a 1 year low of $9.80 and a 1 year high of $13.07. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.96 and a quick ratio of 0.95. The stock’s 50 day simple moving average is $11.27 and its two-hundred day simple moving average is $11.49. The company has a market cap of $1.38 billion, a PE ratio of 10.57 and a beta of 0.60.

Northwest Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be issued a $0.20 dividend. The ex-dividend date is Wednesday, May 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.35%. Northwest Bancshares’s payout ratio is 77.67%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Northwest Bancshares in the 3rd quarter valued at $574,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Northwest Bancshares by 40.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 17,021 shares of the savings and loans company’s stock valued at $174,000 after acquiring an additional 4,945 shares during the period. Raymond James & Associates increased its holdings in shares of Northwest Bancshares by 11.4% in the 3rd quarter. Raymond James & Associates now owns 34,584 shares of the savings and loans company’s stock valued at $354,000 after acquiring an additional 3,540 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Northwest Bancshares in the 3rd quarter valued at $199,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Northwest Bancshares by 6.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,874 shares of the savings and loans company’s stock valued at $694,000 after acquiring an additional 3,961 shares during the period. 66.32% of the stock is currently owned by hedge funds and other institutional investors.

About Northwest Bancshares

Northwest Bancshares, Inc operates as the bank 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.