Northwest Bancshares (NASDAQ:NWBI) Announces Quarterly Earnings Results, Meets Expectations

Northwest Bancshares (NASDAQ:NWBI) released its quarterly earnings results on Monday. The savings and loans company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23, Yahoo Finance reports. Northwest Bancshares had a return on equity of 9.21% and a net margin of 19.23%.

Northwest Bancshares Trading Up 3.2 %

NWBI opened at $11.13 on Monday. Northwest Bancshares has a one year low of $9.80 and a one year high of $13.07. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 10.50 and a beta of 0.60. The business has a 50 day simple moving average of $11.34 and a two-hundred day simple moving average of $11.49. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.95.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price target on Northwest Bancshares from $12.00 to $13.00 and gave the company a “market perform” rating in a research report on Tuesday, January 23rd.

Insider Transactions at Northwest Bancshares

In other news, EVP Scott J. Watson bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was purchased at an average price of $12.90 per share, with a total value of $64,500.00. Following the transaction, the executive vice president now owns 35,282 shares of the company’s stock, valued at $455,137.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State Street Corp increased its position in Northwest Bancshares by 59.4% during the 1st quarter. State Street Corp now owns 8,048,444 shares of the savings and loans company’s stock valued at $108,734,000 after buying an additional 2,999,249 shares in the last quarter. Norges Bank bought a new position in Northwest Bancshares during the 4th quarter valued at approximately $15,875,000. BlackRock Inc. increased its position in Northwest Bancshares by 2.4% during the 1st quarter. BlackRock Inc. now owns 18,659,483 shares of the savings and loans company’s stock valued at $224,474,000 after buying an additional 428,733 shares in the last quarter. Vanguard Group Inc. increased its position in Northwest Bancshares by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 14,374,118 shares of the savings and loans company’s stock valued at $194,195,000 after buying an additional 368,801 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Northwest Bancshares by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,116,084 shares of the savings and loans company’s stock valued at $109,649,000 after buying an additional 328,495 shares in the last quarter. Institutional investors own 66.32% 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.