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Fiscal 2022 EPS estimates for Northwest Bancshares, Inc. augmented by DA Davidson (NASDAQ:NWBI)

By on October 12, 2022 0

Northwest Bancshares, Inc. (NASDAQ: NWBI – Get a rating) – DA Davidson Research analysts raised their FY2022 EPS estimates for Northwest Bancshares shares in a note to investors on Monday, October 10. DA Davidson analyst Mr Navas now expects the savings and loan company to post earnings of $1.08 per share for the year, up from its previous forecast of $1.07 . DA Davidson has a “Neutral” rating on the stock. The consensus estimate of Northwest Bancshares’ current annual earnings is $1.08 per share.

The NWBI has been the subject of a number of other research reports. Piper Sandler cut her price target on shares of Northwest Bancshares to $12.00 in a Wednesday, October 5, report. B. Riley cut his price target on Northwest Bancshares shares from $14.00 to $11.00 in a Monday, July 11 report. Janney Montgomery Scott launched a hedge on Northwest Bancshares shares in a Thursday, September 29 report. They set a “neutral” rating and a price target of $15.00 for the company. To finish, StockNews.com launched a hedge on Northwest Bancshares shares in a report on Wednesday. They set a “hold” rating for the company.

Performance of Northwest Bancshares shares

The NASDAQ NWBI opened Wednesday at $13.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a leverage ratio of 0.25. The company has a market capitalization of $1.75 billion, a P/E ratio of 13.90 and a beta of 0.53. Northwest Bancshares has a 12-month low of $12.04 and a 12-month high of $15.22. The company has a 50-day moving average price of $14.20 and a two-hundred-day moving average price of $13.36.

Northwest Bancshares (NASDAQ:NWBI – Get a rating) last released its quarterly earnings data on Monday, July 25. The savings and loan company reported earnings per share (EPS) of $0.26 for the quarter, beating consensus analyst estimates of $0.23 by $0.03. The company posted revenue of $130.71 million in the quarter, versus a consensus estimate of $123.21 million. Northwest Bancshares had a net margin of 24.27% and a return on equity of 8.23%.

Hedge funds weigh on Northwest Bancshares shares

Several institutional investors and hedge funds have recently increased or reduced their stake in the stock. Maryland State Retirement & Pension System increased its stake in Northwest Bancshares by 1.7% in the first quarter. Maryland State Retirement & Pension System now owns 51,193 shares of the savings and loan company valued at $692,000 after buying 876 additional shares in the last quarter. Mutual of America Capital Management LLC increased its position in Northwest Bancshares by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 18,244 shares of the savings and loan company valued at $246,000 after acquiring 953 additional shares during the period. CWM LLC increased its position in Northwest Bancshares by 125.1% in Q1. CWM LLC now owns 2,530 shares of the savings and loan company valued at $34,000 after acquiring 1,406 additional shares during the period. Advisor Group Holdings Inc. increased its position in Northwest Bancshares by 6.0% in Q1. Advisor Group Holdings Inc. now owns 25,808 shares of the savings and loan company valued at $931,000 after acquiring 1,451 additional shares during the period. Finally, Teacher Retirement System of Texas increased its position in Northwest Bancshares by 6.6% in the 1st quarter. Teacher Retirement System of Texas now owns 24,723 shares of the savings and loan company valued at $334,000 after acquiring 1,520 additional shares during the period. Institutional investors hold 65.11% of the company’s shares.

Insider Activity at Northwest Bancshares

In related news, the director Sonia M. Probst sold 6,119 shares in a trade that took place on Monday, August 22. The shares were sold at an average price of $14.64, for a total value of $89,582.16. Following completion of the transaction, the director now owns 55,530 shares of the company, valued at approximately $812,959.20. The sale was disclosed in a legal filing with the SEC, which is available via the SEC website. 1.00% of the shares are held by insiders.

Northwest Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15. Investors of record on Thursday August 4 received a dividend of $0.20. This represents an annualized dividend of $0.80 and a yield of 5.81%. The ex-dividend date was Wednesday, August 3. Northwest Bancshares’ payout ratio is 80.81%.

About Northwest Bancshares

(Get a rating)

Northwest Bancshares, Inc. operates as the holding company of Northwest Bank, a state-chartered savings bank that provides personal and business banking solutions. The company accepts a variety of deposits, including checks, savings, money market deposits, term certificates, and individual retirement accounts.

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Earnings history and estimates for Northwest Bancshares (NASDAQ:NWBI)

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