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

Northwest Bancshares, Inc. (NASDAQ:NWBI) – Stock analysts at DA Davidson issued their Q3 2024 earnings per share estimates for shares of Northwest Bancshares in a research report issued to clients and investors on Thursday, August 8th. DA Davidson analyst M. Navas anticipates that the savings and loans company will earn $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.

A number of other research analysts also recently commented on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $12.00 target price (down from $13.00) on shares of Northwest Bancshares in a research report on Tuesday, April 23rd. Piper Sandler lowered their target price 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 Down 0.9 %

NASDAQ NWBI opened at $12.77 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $1.63 billion, a P/E ratio of 12.40 and a beta of 0.64. Northwest Bancshares has a one year low of $9.80 and a one year high of $14.55. The stock has a 50 day moving average price of $12.03 and a 200-day moving average price of $11.62.

Institutional Trading of Northwest Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in NWBI. International Assets Investment Management LLC lifted its position in shares of Northwest Bancshares by 1,148.0% during the fourth quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loans company’s stock worth $64,000 after purchasing an additional 4,684 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Northwest Bancshares by 9.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,540 shares of the savings and loans company’s stock worth $930,000 after purchasing an additional 6,666 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Northwest Bancshares during the fourth quarter worth $794,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Northwest Bancshares by 12.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,452 shares of the savings and loans company’s stock worth $318,000 after purchasing an additional 2,852 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Northwest Bancshares by 164.6% during the fourth quarter. CWM LLC now owns 4,918 shares of the savings and loans company’s stock worth $61,000 after purchasing an additional 3,059 shares during the last quarter. 66.32% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Douglas M. Schosser purchased 7,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was bought at an average cost of $14.19 per share, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $193,046.52. Following the completion of the sale, the chief operating officer now directly owns 208,302 shares in the company, valued at $2,953,722.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Douglas M. Schosser bought 7,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were 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 owns 46,347 shares of the company’s stock, valued at approximately $657,663.93. The disclosure for this purchase can be found here. Insiders sold a total of 21,885 shares of company stock worth $306,645 over the last three months. 1.10% of the stock is owned by insiders.

Northwest Bancshares Dividend Announcement

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