DA Davidson Has Positive Outlook of NWBI FY2024 Earnings

Northwest Bancshares, Inc. (NASDAQ:NWBI) – DA Davidson boosted their FY2024 earnings per share estimates for Northwest Bancshares in a note issued to investors on Wednesday, November 6th. DA Davidson analyst M. Navas now expects that the savings and loans company will earn $1.03 per share for the year, up from their previous estimate 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 Price Performance

NASDAQ:NWBI opened at $15.28 on Thursday. Northwest Bancshares has a 52 week low of $10.45 and a 52 week high of $15.35. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50-day simple moving average is $13.36 and its 200 day simple moving average is $12.40. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 20.11 and a beta of 0.62.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings data on Tuesday, October 29th. The savings and loans company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of $199.21 million for the quarter, compared to analysts’ expectations of $140.80 million. Northwest Bancshares had a return on equity of 8.24% and a net margin of 13.19%. During the same quarter last year, the business earned $0.31 EPS.

Northwest Bancshares Announces Dividend

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 $0.20 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.24%. Northwest Bancshares’s payout ratio is 105.26%.

Institutional Investors Weigh In On Northwest Bancshares

A number of large investors have recently added to or reduced their stakes in NWBI. Empowered Funds LLC lifted its position in shares of Northwest Bancshares by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 343,459 shares of the savings and loans company’s stock valued at $4,595,000 after acquiring an additional 17,420 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Northwest Bancshares by 12.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,601 shares of the savings and loans company’s stock worth $1,023,000 after purchasing an additional 8,413 shares during the period. International Assets Investment Management LLC grew its stake in Northwest Bancshares by 1,238.0% during the third quarter. International Assets Investment Management LLC now owns 5,459 shares of the savings and loans company’s stock worth $73,000 after buying an additional 5,051 shares in the last quarter. Creative Planning increased its holdings in Northwest Bancshares by 7.2% in the 3rd quarter. Creative Planning now owns 12,699 shares of the savings and loans company’s stock valued at $170,000 after buying an additional 851 shares during the period. Finally, CWM LLC raised its position in shares of Northwest Bancshares by 51.5% in the 3rd quarter. CWM LLC now owns 10,897 shares of the savings and loans company’s stock valued at $146,000 after buying an additional 3,702 shares in the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

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.