Wall Street analysts expect that Northwest Bancshares, Inc. (NASDAQ:NWBI) will announce sales of $114.90 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Northwest Bancshares’ earnings, with estimates ranging from $113.80 million to $116.00 million. Northwest Bancshares posted sales of $110.08 million in the same quarter last year, which suggests a positive year over year growth rate of 4.4%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, January 28th.
According to Zacks, analysts expect that Northwest Bancshares will report full year sales of $458.25 million for the current financial year, with estimates ranging from $456.50 million to $460.00 million. For the next fiscal year, analysts expect that the firm will post sales of $522.40 million, with estimates ranging from $521.80 million to $523.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Northwest Bancshares.
Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Monday, October 21st. The savings and loans company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.05. The company had revenue of $117.11 million for the quarter, compared to analysts’ expectations of $116.30 million. Northwest Bancshares had a return on equity of 8.57% and a net margin of 21.99%.
In other Northwest Bancshares news, EVP Michael G. Smelko sold 25,684 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $16.60, for a total value of $426,354.40. Following the completion of the sale, the executive vice president now owns 91,386 shares in the company, valued at approximately $1,517,007.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sonia M. Probst sold 7,030 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $17.53, for a total transaction of $123,235.90. Following the completion of the sale, the director now owns 47,686 shares of the company’s stock, valued at approximately $835,935.58. The disclosure for this sale can be found here. Insiders have sold 51,714 shares of company stock worth $871,130 in the last quarter. 1.40% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Morgan Stanley grew its position in shares of Northwest Bancshares by 346.7% in the second quarter. Morgan Stanley now owns 533,637 shares of the savings and loans company’s stock valued at $9,397,000 after purchasing an additional 414,180 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Northwest Bancshares by 31.1% during the second quarter. Acadian Asset Management LLC now owns 1,687,684 shares of the savings and loans company’s stock worth $29,718,000 after buying an additional 400,589 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in Northwest Bancshares during the second quarter worth $6,841,000. First Trust Advisors LP grew its holdings in Northwest Bancshares by 13.5% in the 3rd quarter. First Trust Advisors LP now owns 2,615,219 shares of the savings and loans company’s stock valued at $42,863,000 after buying an additional 311,292 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Northwest Bancshares by 2.0% in the 2nd quarter. BlackRock Inc. now owns 15,573,520 shares of the savings and loans company’s stock valued at $274,250,000 after buying an additional 305,917 shares in the last quarter. Institutional investors and hedge funds own 69.82% of the company’s stock.
Shares of NWBI traded down $0.07 during midday trading on Tuesday, hitting $16.56. 313,333 shares of the company traded hands, compared to its average volume of 481,210. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 16.25 and a beta of 0.66. The firm has a 50 day moving average of $16.71 and a 200-day moving average of $16.75. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.03 and a current ratio of 1.03. Northwest Bancshares has a 52 week low of $15.46 and a 52 week high of $18.81.
Northwest Bancshares Company Profile
Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.
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