Northwest Bancshares, Inc. (NASDAQ:NWBI - Free Report) - Equities researchers at DA Davidson lifted their FY2024 earnings estimates for Northwest Bancshares in a report released on Wednesday, November 6th. DA Davidson analyst M. Navas now expects that the savings and loans company will post earnings per share of $1.03 for the year, up from their previous forecast of $1.02. The consensus estimate for Northwest Bancshares' current full-year earnings is $1.02 per share. DA Davidson also issued estimates for Northwest Bancshares' Q4 2024 earnings at $0.26 EPS and FY2025 earnings at $1.08 EPS.
Northwest Bancshares (NASDAQ:NWBI - Get Free Report) last announced its earnings results on Tuesday, October 29th. The savings and loans company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $199.21 million during the quarter, compared to the consensus estimate of $140.80 million. Northwest Bancshares had a net margin of 13.19% and a return on equity of 8.24%. During the same period last year, the firm earned $0.31 earnings per share.
Northwest Bancshares Stock Performance
NASDAQ NWBI traded down $0.65 on Thursday, reaching $14.63. 1,031,248 shares of the company's stock traded hands, compared to its average volume of 722,409. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 19.25 and a beta of 0.62. The stock has a 50 day moving average price of $13.38 and a 200-day moving average price of $12.42. Northwest Bancshares has a fifty-two week low of $10.45 and a fifty-two week high of $15.35. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 0.95.
Northwest Bancshares Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, November 8th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 5.47%. Northwest Bancshares's payout ratio is 105.26%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in Northwest Bancshares by 148.3% in the 2nd quarter. American Century Companies Inc. now owns 1,225,917 shares of the savings and loans company's stock valued at $14,159,000 after purchasing an additional 732,172 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Northwest Bancshares by 80.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 488,161 shares of the savings and loans company's stock worth $5,638,000 after acquiring an additional 218,158 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Northwest Bancshares by 17,247,500.0% in the 3rd quarter. Quest Partners LLC now owns 172,476 shares of the savings and loans company's stock worth $2,308,000 after acquiring an additional 172,475 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Northwest Bancshares by 710.9% in the 2nd quarter. AQR Capital Management LLC now owns 144,163 shares of the savings and loans company's stock worth $1,665,000 after acquiring an additional 126,384 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Northwest Bancshares by 47.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 156,043 shares of the savings and loans company's stock worth $2,088,000 after acquiring an additional 50,395 shares during the last quarter. Hedge funds and other institutional investors own 66.32% of the company's stock.
Northwest Bancshares Company Profile
(
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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.
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