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In a recent 8-K filing with the Securities and Exchange Commission, Northwest Bancshares (NASDAQ:NWBI), Inc. reported the outcomes of its annual shareholder meeting held on April 17, 2025. The Maryland-incorporated company, trading on the NASDAQ Stock Market under the ticker NWBI, disclosed the results of several key votes. With a market capitalization of $1.45 billion and a P/E ratio of 14.35, InvestingPro analysis suggests the stock is currently trading below its Fair Value.
At the meeting, shareholders elected four directors to the company’s board. Robert M. Campana received 83,822,162 votes for and 2,599,560 withheld, with 14,673,730 broker non-votes. Timothy B. Fannin was elected with 81,875,950 votes for and 4,545,772 withheld. John P. Meegan garnered 78,147,157 votes for, with 8,274,565 withheld. Mark A. Paup received the highest number of votes in favor, with 85,331,768 for and 1,089,954 withheld. The strong shareholder participation comes as Northwest Bancshares maintains its impressive 31-year streak of consecutive dividend payments, currently yielding 7.04%.
Additionally, the appointment of KPMG LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified by shareholders with 99,165,506 votes for, 1,716,409 against, and 213,537 abstentions.
A non-binding advisory resolution to approve executive compensation as described in the company’s proxy statement also passed. The compensation package received 68,014,673 votes in favor, 17,749,915 against, and 657,134 abstentions, along with 14,673,730 broker non-votes.
The filing did not include any financial statements or exhibits applicable to the reported events. The results from the annual meeting reflect shareholder sentiment on the governance and oversight of the company as well as approval of its accounting firm and executive compensation practices.
This news is based on a press release statement and provides a summary of the most recent corporate governance outcomes for Northwest Bancshares, Inc. Investors should note that the company’s next earnings report is scheduled for April 28, 2025. InvestingPro subscribers can access additional analysis, including 6 key ProTips and detailed financial metrics to better evaluate the company’s performance.
In other recent news, Northwest Bancshares, Inc. reported earnings that showed a mixed performance. The company exceeded expectations in core pre-provision net revenue, driven by strong net interest income, fees, and operating expenses. However, earnings per share fell short of estimates due to higher-than-anticipated credit costs. Following these results, DA Davidson revised its price target for Northwest Bancshares to $13.00 from $14.00, maintaining a Neutral rating. The revision reflects concerns over slower loan growth, although analysts anticipate lower credit costs in the future. Notably, the company saw a 26% growth in commercial and industrial lending and a slight improvement in core net interest margin. Despite these positive developments, DA Davidson suggests the stock’s valuation is fair, with limited potential for appreciation. The firm’s analysis highlights a projected 2026 return on average assets of 1.6% and a return on tangible common equity of about 15%.
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