$0.21 EPS Expected for Northwest Bancshares, Inc. (NASDAQ:NWBI) This Quarter
Analysts expect Northwest Bancshares, Inc. (NASDAQ:NWBI) to post earnings per share (EPS) of $0.21 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Northwest Bancshares’ earnings, with estimates ranging from $0.20 to $0.23. Northwest Bancshares reported earnings per share of $0.20 during the same quarter last year, which would indicate a positive year-over-year growth rate of 5%. The company is expected to issue its next quarterly earnings report on Monday, July 24th.
According to Zacks, analysts expect that Northwest Bancshares will report full year earnings of $0.83 per share for the current financial year, with EPS estimates ranging from $0.80 to $0.90. For the next financial year, analysts expect that the business will post earnings of $0.96 per share, with EPS estimates ranging from $0.90 to $1.07. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Northwest Bancshares.
A number of research analysts recently commented on NWBI shares. ValuEngine cut Northwest Bancshares from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a report on Thursday, May 11th. Zacks Investment Research upgraded Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, March 29th. Finally, BidaskClub upgraded Northwest Bancshares from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.60.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NWBI. Carlton Hofferkamp & Jenks Wealth Management LLC boosted its position in Northwest Bancshares by 99.6% in the second quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 45,700 shares of the savings and loans company’s stock worth $713,000 after buying an additional 22,800 shares during the period. State Street Corp boosted its position in Northwest Bancshares by 2.9% in the first quarter. State Street Corp now owns 2,423,794 shares of the savings and loans company’s stock worth $40,816,000 after buying an additional 69,226 shares during the period. Bank of America Corp DE boosted its position in Northwest Bancshares by 13.8% in the first quarter. Bank of America Corp DE now owns 394,988 shares of the savings and loans company’s stock worth $6,652,000 after buying an additional 48,028 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Northwest Bancshares by 7.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 613,709 shares of the savings and loans company’s stock worth $10,335,000 after buying an additional 41,510 shares during the period. Finally, KCG Holdings Inc. boosted its position in Northwest Bancshares by 65.8% in the first quarter. KCG Holdings Inc. now owns 28,871 shares of the savings and loans company’s stock worth $486,000 after buying an additional 11,455 shares during the period. Institutional investors own 67.27% of the company’s stock.
Northwest Bancshares (NWBI) traded down 0.19% during midday trading on Tuesday, hitting $15.54. The stock had a trading volume of 384,584 shares. The firm has a 50-day moving average of $15.58 and a 200-day moving average of $16.90. Northwest Bancshares has a 12-month low of $14.65 and a 12-month high of $19.10. The company has a market cap of $1.59 billion, a PE ratio of 32.24 and a beta of 0.62.
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Northwest Bancshares Company Profile
Northwest Bancshares, Inc (Northwest) is a savings and loan holding company. The Company’s principal business consists of attracting deposits and making loans secured by various types of collateral, including real estate and other assets in the markets in which it operates. Its segments include Community Banking and Consumer Finance.
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