Separately, Zacks Investment Research downgraded Northwest Bancshares from a hold rating to a sell rating in a report on Thursday, August 22nd.
Shares of NASDAQ:NWBI traded down $0.23 on Tuesday, hitting $17.24. 29,584 shares of the company’s stock were exchanged, compared to its average volume of 467,608. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50 day simple moving average is $16.41 and its two-hundred day simple moving average is $16.87. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 16.93 and a beta of 0.68. Northwest Bancshares has a 12 month low of $15.46 and a 12 month high of $18.81.
Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings data on Monday, October 21st. The savings and loans company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. The firm had revenue of $117.11 million during the quarter, compared to the consensus estimate of $116.30 million. Northwest Bancshares had a return on equity of 8.65% and a net margin of 21.99%. Equities analysts forecast that Northwest Bancshares will post 1.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 4.18%. Northwest Bancshares’s payout ratio is currently 70.59%.
In related news, Director Sonia M. Probst sold 7,030 shares of Northwest Bancshares stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $17.53, for a total value of $123,235.90. Following the completion of the sale, the director now directly owns 47,686 shares in the company, valued at $835,935.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Northwest Bancshares by 2.0% in the second quarter. BlackRock Inc. now owns 15,573,520 shares of the savings and loans company’s stock valued at $274,250,000 after acquiring an additional 305,917 shares in the last quarter. Vanguard Group Inc. grew its stake in Northwest Bancshares by 1.9% in the second quarter. Vanguard Group Inc. now owns 10,790,484 shares of the savings and loans company’s stock valued at $190,020,000 after purchasing an additional 200,718 shares during the last quarter. First Trust Advisors LP grew its stake in Northwest Bancshares by 13.8% in the second quarter. First Trust Advisors LP now owns 2,303,927 shares of the savings and loans company’s stock valued at $40,572,000 after purchasing an additional 278,500 shares during the last quarter. Acadian Asset Management LLC grew its stake in Northwest Bancshares by 31.1% in the second quarter. Acadian Asset Management LLC now owns 1,687,684 shares of the savings and loans company’s stock valued at $29,718,000 after purchasing an additional 400,589 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Northwest Bancshares by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 1,555,280 shares of the savings and loans company’s stock valued at $27,389,000 after purchasing an additional 56,134 shares during the last quarter. Hedge funds and other institutional investors own 70.83% of the company’s stock.
Northwest Bancshares Company Profile
Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.
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