Northwest Bancshares (NASDAQ:NWBI) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
Other analysts also recently issued reports about the company. Boenning Scattergood reissued a “hold” rating on shares of Northwest Bancshares in a research report on Wednesday, June 13th. Zacks Investment Research raised Northwest Bancshares from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Wednesday, June 20th.
Shares of NASDAQ:NWBI opened at $17.19 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $1.79 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 2.44 and a beta of 0.71. Northwest Bancshares has a 12-month low of $15.34 and a 12-month high of $18.56.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings data on Thursday, July 26th. The savings and loans company reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. The firm had revenue of $108.34 million during the quarter, compared to the consensus estimate of $108.20 million. Northwest Bancshares had a return on equity of 8.06% and a net margin of 21.20%. On average, sell-side analysts forecast that Northwest Bancshares will post 1.01 EPS for the current year.
In other Northwest Bancshares news, insider William J. Wagner sold 21,816 shares of Northwest Bancshares stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $18.43, for a total value of $402,068.88. Following the completion of the transaction, the insider now directly owns 100,874 shares of the company’s stock, valued at approximately $1,859,107.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO William W. Harvey sold 13,714 shares of Northwest Bancshares stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $18.09, for a total value of $248,086.26. Following the completion of the transaction, the chief financial officer now directly owns 159,613 shares of the company’s stock, valued at $2,887,399.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 290,415 shares of company stock valued at $5,250,731. 2.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Koch Industries Inc. grew its position in Northwest Bancshares by 16.0% in the 1st quarter. Koch Industries Inc. now owns 22,288 shares of the savings and loans company’s stock valued at $369,000 after acquiring an additional 3,081 shares in the last quarter. Swiss National Bank grew its position in Northwest Bancshares by 1.9% in the 1st quarter. Swiss National Bank now owns 169,100 shares of the savings and loans company’s stock valued at $2,800,000 after acquiring an additional 3,200 shares in the last quarter. Bessemer Group Inc. grew its position in Northwest Bancshares by 0.8% in the 2nd quarter. Bessemer Group Inc. now owns 418,944 shares of the savings and loans company’s stock valued at $7,286,000 after acquiring an additional 3,200 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in Northwest Bancshares by 27.6% in the 1st quarter. Xact Kapitalforvaltning AB now owns 19,904 shares of the savings and loans company’s stock valued at $330,000 after acquiring an additional 4,300 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in Northwest Bancshares by 61.7% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,414 shares of the savings and loans company’s stock valued at $237,000 after acquiring an additional 5,501 shares in the last quarter. 70.32% of the stock is owned by institutional investors.
About Northwest Bancshares
Northwest Bancshares, Inc operates as a bank holding company for Northwest Savings Bank that offers various personal and business banking solutions in the United States. The company offers personal and business deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts.
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