Northwest Bancshares, Inc. (NASDAQ:NWBI) Plans $0.20 Quarterly Dividend

Northwest Bancshares, Inc. (NASDAQ:NWBI) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Investors of record on Thursday, May 2nd will be paid a dividend of 0.20 per share by the savings and loans company on Wednesday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date is Wednesday, May 1st.

Northwest Bancshares has increased its dividend payment by an average of 1.7% annually over the last three years. Northwest Bancshares has a payout ratio of 78.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Northwest Bancshares to earn $1.02 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 78.4%.

Northwest Bancshares Stock Performance

Shares of NASDAQ NWBI opened at $11.06 on Tuesday. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 10.43 and a beta of 0.60. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41. Northwest Bancshares has a 1-year low of $9.80 and a 1-year high of $13.07. The stock’s 50-day moving average is $11.32 and its 200 day moving average is $11.50.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. Northwest Bancshares had a return on equity of 9.21% and a net margin of 19.23%. On average, sell-side analysts anticipate that Northwest Bancshares will post 0.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NWBI has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price target on Northwest Bancshares from $12.00 to $13.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 23rd. Piper Sandler reduced their price target on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday.

Insider Transactions at Northwest Bancshares

In other Northwest Bancshares news, EVP Scott J. Watson acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were purchased at an average cost of $12.90 per share, for a total transaction of $64,500.00. Following the transaction, the executive vice president now owns 35,282 shares in the company, valued at $455,137.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Northwest Bancshares Company Profile

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.