Northwest Bancshares, Inc. (NWBI) to Issue Quarterly Dividend of $0.20 on November 18th

Northwest Bancshares, Inc. (NASDAQ:NWBI) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Investors of record on Friday, November 8th will be paid a dividend of 0.20 per share by the savings and loans company on Monday, November 18th. This represents a $0.80 annualized dividend and a yield of 5.94%. The ex-dividend date is Friday, November 8th.

Northwest Bancshares has raised its dividend payment by an average of 1.7% per year 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 tumble. Equities research analysts expect Northwest Bancshares to earn $1.04 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 76.9%.

Northwest Bancshares Stock Performance

Shares of NASDAQ:NWBI opened at $13.46 on Thursday. The business’s 50-day moving average is $13.35 and its 200 day moving average is $12.30. Northwest Bancshares has a 1 year low of $10.09 and a 1 year high of $14.55. The firm has a market capitalization of $1.71 billion, a P/E ratio of 16.62 and a beta of 0.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.95 and a quick ratio of 0.95.

Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Tuesday, October 29th. The savings and loans company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $199.21 million for the quarter, compared to analyst estimates of $140.80 million. Northwest Bancshares had a return on equity of 8.72% and a net margin of 14.28%. During the same period in the prior year, the company posted $0.31 EPS. On average, research analysts predict that Northwest Bancshares will post 0.97 earnings per share for the current fiscal year.

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.