Northwest Bancshares, Inc. (NASDAQ:NWBI) Expected to Post Q3 2024 Earnings of $0.26 Per Share

Northwest Bancshares, Inc. (NASDAQ:NWBI) – Analysts at DA Davidson issued their Q3 2024 earnings per share estimates for Northwest Bancshares in a report issued on Thursday, August 8th. DA Davidson analyst M. Navas forecasts that the savings and loans company will post earnings of $0.26 per share for the quarter. The consensus estimate for Northwest Bancshares’ current full-year earnings is $0.92 per share. DA Davidson also issued estimates for Northwest Bancshares’ FY2025 earnings at $1.07 EPS.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price objective (down from $13.00) on shares of Northwest Bancshares in a report on Tuesday, April 23rd. 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 research report on Tuesday, April 23rd.

Northwest Bancshares Stock Performance

Shares of NWBI stock opened at $12.77 on Friday. The stock has a fifty day moving average price of $12.03 and a 200 day moving average price of $11.62. The stock has a market cap of $1.63 billion, a PE ratio of 12.40 and a beta of 0.64. Northwest Bancshares has a 1 year low of $9.80 and a 1 year high of $14.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.95 and a current ratio of 0.95.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in 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 valued at $44,697,000 after acquiring an additional 78,513 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Northwest Bancshares by 3,568.5% in the fourth quarter. Hsbc Holdings PLC now owns 580,655 shares of the savings and loans company’s stock valued at $7,298,000 after acquiring an additional 564,827 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in Northwest Bancshares by 63.8% in the fourth quarter. Rafferty Asset Management LLC now owns 146,317 shares of the savings and loans company’s stock valued at $1,826,000 after acquiring an additional 57,015 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 valued at $108,729,000 after acquiring an additional 90,425 shares during the last quarter. Finally, WBI Investments LLC boosted its holdings in Northwest Bancshares by 4.6% in the fourth quarter. WBI Investments LLC now owns 32,399 shares of the savings and loans company’s stock valued at $404,000 after acquiring an additional 1,416 shares during the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

Insider Activity

In other Northwest Bancshares news, CFO Douglas M. Schosser acquired 7,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was acquired at an average price of $14.19 per share, with a total value of $99,330.00. Following the completion of the transaction, the chief financial officer now directly owns 46,347 shares in the company, valued at $657,663.93. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO William W. Harvey sold 13,614 shares of Northwest Bancshares stock in a transaction on Friday, July 26th. The stock was sold at an average price of $14.18, for a total value of $193,046.52. Following the completion of the sale, the chief operating officer now owns 208,302 shares of the company’s stock, valued at $2,953,722.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Douglas M. Schosser acquired 7,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was acquired at an average cost of $14.19 per share, with a total value of $99,330.00. Following the transaction, the chief financial officer now owns 46,347 shares of the company’s stock, valued at $657,663.93. The disclosure for this purchase can be found here. Insiders sold a total of 21,885 shares of company stock valued at $306,645 over the last quarter. Company insiders own 1.10% of the company’s stock.

Northwest Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date of this dividend is Friday, August 2nd. Northwest Bancshares’s dividend payout ratio 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.