Northwest Bancshares, Inc. (NASDAQ:NWBI) to Issue Dividend Increase – $0.20 Per Share

Northwest Bancshares, Inc. (NASDAQ:NWBI) announced a quarterly dividend on Monday, April 26th, Zacks reports. Stockholders of record on Thursday, May 6th will be paid a dividend of 0.20 per share by the savings and loans company on Monday, May 17th. This represents a $0.80 annualized dividend and a dividend yield of 5.70%. The ex-dividend date of this dividend is Wednesday, May 5th. This is a boost from Northwest Bancshares’s previous quarterly dividend of $0.19.

Northwest Bancshares has raised its dividend by 18.8% over the last three years and has raised its dividend every year for the last 1 years. Northwest Bancshares has a payout ratio of 76.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Northwest Bancshares to earn $0.98 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 81.6%.

NASDAQ:NWBI opened at $14.04 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $1.78 billion, a PE ratio of 25.07 and a beta of 0.68. The stock has a fifty day simple moving average of $14.55 and a 200-day simple moving average of $13.11. Northwest Bancshares has a 52-week low of $8.52 and a 52-week high of $15.48.

Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Sunday, April 25th. The savings and loans company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.04. Northwest Bancshares had a net margin of 11.80% and a return on equity of 7.20%. As a group, equities analysts anticipate that Northwest Bancshares will post 0.89 earnings per share for the current year.

Separately, B. Riley increased their target price on Northwest Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, January 26th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Northwest Bancshares currently has an average rating of “Hold” and an average price target of $12.33.

In related news, EVP Mark T. Reitzes purchased 2,110 shares of Northwest Bancshares stock in a transaction dated Monday, February 22nd. The shares were acquired at an average price of $14.07 per share, with a total value of $29,687.70. Following the completion of the transaction, the executive vice president now owns 5,025 shares of the company’s stock, valued at approximately $70,701.75. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Julia W. Mctavish sold 47,000 shares of Northwest Bancshares stock in a transaction dated Wednesday, February 24th. The stock was sold at an average price of $14.55, for a total value of $683,850.00. The disclosure for this sale can be found here. Over the last three months, insiders have bought 17,485 shares of company stock worth $238,624 and have sold 79,376 shares worth $1,123,809. Insiders own 1.20% of the company’s stock.

Northwest Bancshares Company Profile

Northwest Bancshares, Inc operates as a holding company for Northwest Bank that offers various personal and business banking solutions. The company accepts various deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts. Its loan products include one-to-four family residential real estate, short-term consumer, multi-family residential and commercial real estate, commercial business, and residential mortgage loans; home equity lines of credit; and consumer loans comprising automobile, sales finance, unsecured personal, and credit card loans, as well as loans secured by deposit accounts.

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Dividend History for Northwest Bancshares (NASDAQ:NWBI)

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