Wall Street brokerages expect Northwest Bancshares, Inc. (NASDAQ:NWBI) to announce sales of $109.30 million for the current quarter, Zacks reports. Two analysts have issued estimates for Northwest Bancshares’ earnings. The highest sales estimate is $109.62 million and the lowest is $108.97 million. Northwest Bancshares posted sales of $107.83 million in the same quarter last year, which suggests a positive year over year growth rate of 1.4%. The company is scheduled to report its next quarterly earnings results on Monday, October 22nd.
According to Zacks, analysts expect that Northwest Bancshares will report full year sales of $431.44 million for the current fiscal year, with estimates ranging from $430.52 million to $432.36 million. For the next financial year, analysts anticipate that the business will post sales of $466.44 million per share, with estimates ranging from $462.78 million to $470.10 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Thursday, July 26th. The savings and loans company reported $0.25 earnings per share for the quarter, meeting the consensus estimate of $0.25. Northwest Bancshares had a return on equity of 8.06% and a net margin of 21.20%. The company had revenue of $108.34 million for the quarter, compared to the consensus estimate of $108.20 million.
Shares of NWBI stock traded down $0.06 during midday trading on Friday, hitting $18.28. The company had a trading volume of 267,400 shares, compared to its average volume of 438,727. Northwest Bancshares has a 52-week low of $15.06 and a 52-week high of $18.56. The company has a market capitalization of $1.89 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 2.58 and a beta of 0.71. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.17.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Thursday, August 2nd were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, August 1st. This represents a $0.68 annualized dividend and a dividend yield of 3.72%. Northwest Bancshares’s dividend payout ratio (DPR) is currently 80.95%.
In other news, Chairman William J. Wagner sold 5,400 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $18.35, for a total value of $99,090.00. Following the completion of the sale, the chairman now directly owns 100,874 shares of the company’s stock, valued at approximately $1,851,037.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan P. Scalise sold 10,088 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $17.52, for a total value of $176,741.76. Following the completion of the sale, the executive vice president now directly owns 26,652 shares of the company’s stock, valued at $466,943.04. The disclosure for this sale can be found here. Insiders sold a total of 317,717 shares of company stock worth $5,720,004 over the last quarter. Company insiders own 2.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of NWBI. Itau Unibanco Holding S.A. acquired a new stake in shares of Northwest Bancshares in the 2nd quarter valued at approximately $112,000. Trexquant Investment LP acquired a new stake in shares of Northwest Bancshares in the 1st quarter valued at approximately $168,000. WBI Investments Inc. acquired a new stake in shares of Northwest Bancshares in the 2nd quarter valued at approximately $175,000. Raymond James & Associates acquired a new stake in shares of Northwest Bancshares in the 4th quarter valued at approximately $184,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Northwest Bancshares by 61.7% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,414 shares of the savings and loans company’s stock valued at $237,000 after buying an additional 5,501 shares during the period. 71.16% of the stock is owned by institutional investors and hedge funds.
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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