Northwest Bancshares, Inc. (NASDAQ: NWBI – Get a rating) announced a quarterly dividend on Tuesday, April 26, the wall street journal reports. Shareholders of record on Thursday May 5 will receive a dividend of 0.20 per share from the savings and loan company on Monday May 16. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 6.23%. The ex-date of this dividend is Wednesday, May 4.
Northwest Bancshares has increased its dividend by an average of 5.1% per year over the past three years and has increased its dividend every year for the past 13 years. Northwest Bancshares has a dividend payout ratio of 82.5%, which means its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Northwest Bancshares to earn $0.95 per share next year, meaning the company should continue to be able to cover its $0.80 annual dividend with a future payout ratio. forecast of 84.2%.
Shares of Northwest Bancshares traded down $0.41 on Tuesday, hitting $12.85. The company had a trading volume of 863,525 shares, compared to an average volume of 969,472. The company’s 50-day moving average price is $13.67 and its two-hundred-day moving average price is 13, $94. The company has a market capitalization of $1.63 billion, a PE ratio of 10.75 and a beta of 0.55. Northwest Bancshares has a 52-week low of $12.37 and a 52-week high of $15.15. The company has a debt ratio of 0.25, a quick ratio of 0.91 and a current ratio of 0.91.
Northwest Bancshares (NASDAQ:NWBI – Get a rating) last released its quarterly results on Monday, April 25. The savings and loan company reported earnings per share (EPS) of $0.22 for the quarter, beating consensus analyst estimates of $0.20 by $0.02. Northwest Bancshares had a net margin of 27.49% and a return on equity of 9.86%. As a group, sell-side analysts expect Northwest Bancshares to post year-to-date EPS of 0.87.
Several equity research analysts have recently weighed in on NWBI shares. Zacks Investment Research downgraded Northwest Bancshares shares from a “buy” to a “hold” rating in a Wednesday, March 30, research note. StockNews.com began covering Northwest Bancshares shares in a research note on Thursday, March 31. They have set a “holding” rating on the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.01.
In other news, Director Sonia M. Probst sold 6,022 shares of the company in a transaction on Thursday, February 10. The shares were sold at an average price of $13.99, for a total value of $84,247.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this hyperlink. Insiders own 1.00% of the shares of the company.
Institutional investors have recently changed their positions in the company. Wells Fargo & Company MN increased its stake in Northwest Bancshares by 73.3% during the 4th quarter. Wells Fargo & Company MN now owns 148,524 shares of the savings and loan company valued at $2,103,000 after acquiring an additional 62,814 shares last quarter. Royal Bank of Canada increased its position in shares of Northwest Bancshares by 36.6% in the third quarter. Royal Bank of Canada now owns 97,903 shares of the savings and loans company worth $1,300,000 after acquiring 26,230 more shares in the last quarter. Deutsche Bank AG increased its holdings in Northwest Bancshares by 5.0% in the fourth quarter. Deutsche Bank AG now owns 81,430 shares in the savings and loan company valued at $1,153,000 after purchasing an additional 3,902 shares during the period. Millennium Management LLC increased its holdings in Northwest Bancshares by 18.3% in the third quarter. Millennium Management LLC now owns 80,061 shares of the savings and loan company valued at $1,063,000 after purchasing an additional 12,380 shares during the period. Finally, DE Shaw & Co. Inc. increased its holdings in Northwest Bancshares by 65.6% in the fourth quarter. DE Shaw & Co. Inc. now owns 68,725 shares of the savings and loan company valued at $973,000 after purchasing an additional 27,236 shares during the period. Institutional investors hold 60.52% of the company’s shares.
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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