DA Davidson Has Strong Estimate for NWBI FY2024 Earnings

Northwest Bancshares, Inc. (NASDAQ:NWBI) – Investment analysts at DA Davidson lifted their FY2024 EPS estimates for Northwest Bancshares in a research note issued on Wednesday, November 6th. DA Davidson analyst M. Navas now expects that the savings and loans company will post earnings of $1.03 per share for the year, up from their previous forecast of $1.02. The consensus estimate for Northwest Bancshares’ current full-year earnings is $1.02 per share. DA Davidson also issued estimates for Northwest Bancshares’ Q4 2024 earnings at $0.26 EPS and FY2025 earnings at $1.08 EPS.

Northwest Bancshares Stock Performance

Shares of NWBI opened at $14.63 on Thursday. The firm has a market capitalization of $1.86 billion, a P/E ratio of 19.25 and a beta of 0.62. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.95 and a quick ratio of 0.95. Northwest Bancshares has a one year low of $10.45 and a one year high of $15.35. The business has a fifty day moving average of $13.38 and a 200 day moving average of $12.42.

Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Tuesday, October 29th. The savings and loans company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The business had revenue of $199.21 million during the quarter, compared to analyst estimates of $140.80 million. Northwest Bancshares had a net margin of 13.19% and a return on equity of 8.24%. During the same period in the previous year, the business earned $0.31 EPS.

Northwest Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, November 8th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.47%. The ex-dividend date of this dividend is Friday, November 8th. Northwest Bancshares’s payout ratio is currently 105.26%.

Hedge Funds Weigh In On Northwest Bancshares

Institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its position in Northwest Bancshares by 93.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,935 shares of the savings and loans company’s stock valued at $34,000 after purchasing an additional 1,420 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Northwest Bancshares by 33.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 99,307 shares of the savings and loans company’s stock valued at $1,191,000 after acquiring an additional 24,767 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in Northwest Bancshares by 42.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 39,416 shares of the savings and loans company’s stock worth $455,000 after acquiring an additional 11,733 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Northwest Bancshares by 66.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,769 shares of the savings and loans company’s stock worth $67,000 after acquiring an additional 2,304 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Northwest Bancshares by 79.8% during the first quarter. BNP Paribas Financial Markets now owns 66,076 shares of the savings and loans company’s stock valued at $770,000 after purchasing an additional 29,324 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.