Northwest Bancshares, Inc. (NWBI) To Go Ex-Dividend on May 1st

Northwest Bancshares, Inc. (NASDAQ:NWBI) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Investors of record on Thursday, May 2nd will be paid a dividend of 0.20 per share by the savings and loans company on Wednesday, May 15th. This represents a $0.80 annualized dividend and a yield of 7.27%. The ex-dividend date of this dividend is Wednesday, May 1st.

Northwest Bancshares has raised its dividend by an average of 1.7% annually over the last three years. Northwest Bancshares has a payout ratio of 78.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Northwest Bancshares to earn $1.02 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 78.4%.

Northwest Bancshares Stock Performance

Shares of NWBI opened at $11.00 on Wednesday. The business’s fifty day moving average price is $11.30 and its 200 day moving average price is $11.50. Northwest Bancshares has a 12-month low of $9.80 and a 12-month high of $13.07. The stock has a market capitalization of $1.40 billion, a PE ratio of 10.68 and a beta of 0.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.95.

Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. Northwest Bancshares had a return on equity of 8.81% and a net margin of 17.84%. The firm had revenue of $188.20 million for the quarter, compared to analysts’ expectations of $132.80 million. Equities research analysts forecast that Northwest Bancshares will post 0.95 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Piper Sandler reduced their price objective on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $12.00 target price (down from $13.00) on shares of Northwest Bancshares in a research note on Tuesday.

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.