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

Northwest Bancshares, Inc. (NASDAQ:NWBI) – Investment analysts at DA Davidson lowered their FY2024 EPS estimates for shares of Northwest Bancshares in a research note issued on Tuesday, April 23rd. DA Davidson analyst M. Navas now anticipates that the savings and loans company will post earnings per share of $0.91 for the year, down from their previous forecast of $1.00. The consensus estimate for Northwest Bancshares’ current full-year earnings is $0.95 per share.

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 analysts’ consensus estimates of $0.23. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.77%. The company had revenue of $188.20 million for the quarter, compared to the consensus estimate of $132.80 million.

Other research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $12.00 price target (down from $13.00) on shares of Northwest Bancshares in a research report on Tuesday. Piper Sandler cut their price objective on shares of 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 %

Northwest Bancshares stock opened at $10.89 on Thursday. The firm’s 50-day moving average is $11.27 and its 200-day moving average is $11.49. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.96. Northwest Bancshares has a 1 year low of $9.80 and a 1 year high of $13.07. The company has a market cap of $1.38 billion, a P/E ratio of 10.57 and a beta of 0.60.

Northwest Bancshares Announces Dividend

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

Hedge Funds Weigh In On Northwest Bancshares

Several large investors have recently bought and sold shares of NWBI. Vanguard Group Inc. increased its position in shares of Northwest Bancshares by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 14,959,190 shares of the savings and loans company’s stock worth $186,691,000 after acquiring an additional 54,526 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Northwest Bancshares by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,712,088 shares of the savings and loans company’s stock worth $108,729,000 after acquiring an additional 90,425 shares in the last quarter. Invesco Ltd. increased its position in shares of Northwest Bancshares by 4.9% in the third quarter. Invesco Ltd. now owns 4,917,212 shares of the savings and loans company’s stock worth $50,303,000 after acquiring an additional 230,058 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Northwest Bancshares by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,581,520 shares of the savings and loans company’s stock worth $44,697,000 after acquiring an additional 78,513 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Northwest Bancshares by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 3,001,622 shares of the savings and loans company’s stock worth $37,460,000 after acquiring an additional 53,518 shares in the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

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.