DA Davidson Analysts Decrease Earnings Estimates for Northwest Bancshares, Inc. (NASDAQ:NWBI)

Northwest Bancshares, Inc. (NASDAQ:NWBI) – Research analysts at DA Davidson dropped their FY2024 earnings per share (EPS) estimates for shares of Northwest Bancshares in a research note issued to investors on Tuesday, April 23rd. DA Davidson analyst M. Navas now expects that the savings and loans company will post earnings per share of $0.91 for the year, down from their prior forecast of $1.00. The consensus estimate for Northwest Bancshares’ current full-year earnings is $0.92 per share.

A number of other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price target (down from $13.00) on shares of Northwest Bancshares in a report on Tuesday. Piper Sandler dropped their price target on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday.

Northwest Bancshares Trading Down 0.6 %

NWBI stock opened at $10.82 on Thursday. The business has a fifty day moving average price of $11.25 and a 200 day moving average price of $11.50. Northwest Bancshares has a fifty-two week low of $9.80 and a fifty-two week high of $13.07. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 10.50 and a beta of 0.60. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.96 and a quick ratio of 0.95.

Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. Northwest Bancshares had a return on equity of 8.77% and a net margin of 17.84%. The firm had revenue of $188.20 million during the quarter, compared to analysts’ expectations of $132.80 million.

Institutional Investors Weigh In On Northwest Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC increased its stake in shares of Northwest Bancshares by 164.6% in the 4th quarter. CWM LLC now owns 4,918 shares of the savings and loans company’s stock valued at $61,000 after buying an additional 3,059 shares during the period. International Assets Investment Management LLC increased its stake in shares of Northwest Bancshares by 1,148.0% in the 4th quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loans company’s stock valued at $64,000 after buying an additional 4,684 shares during the period. IVC Wealth Advisors LLC acquired a new stake in shares of Northwest Bancshares in the 1st quarter valued at $124,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Northwest Bancshares in the 3rd quarter valued at $125,000. Finally, First Merchants Corp acquired a new stake in shares of Northwest Bancshares in the 4th quarter valued at $126,000. 66.32% of the stock is owned by institutional investors and hedge funds.

Northwest Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.39%. Northwest Bancshares’s dividend payout ratio (DPR) is currently 77.67%.

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.