Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) have earned an average rating of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $12.50.
Several equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, April 28th. BidaskClub cut shares of Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, B. Riley assumed coverage on shares of Northwest Bancshares in a research report on Friday, June 19th. They issued a “buy” rating and a $12.50 target price on the stock.
NWBI stock traded up $0.15 during trading on Friday, reaching $10.16. The company had a trading volume of 6,481 shares, compared to its average volume of 882,054. The firm has a 50-day simple moving average of $10.05 and a 200-day simple moving average of $12.98. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 10.89 and a beta of 0.60. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.03 and a current ratio of 1.03. Northwest Bancshares has a twelve month low of $8.52 and a twelve month high of $17.74.
Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Monday, April 27th. The savings and loans company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). The company had revenue of $115.20 million during the quarter, compared to analyst estimates of $113.77 million. Northwest Bancshares had a return on equity of 6.94% and a net margin of 17.84%. Sell-side analysts expect that Northwest Bancshares will post 0.58 earnings per share for the current year.
In related news, EVP Mark T. Reitzes acquired 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average price of $10.25 per share, for a total transaction of $30,750.00. Following the transaction, the executive vice president now owns 3,000 shares in the company, valued at approximately $30,750. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy M. Hunter acquired 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were bought at an average price of $10.35 per share, with a total value of $155,250.00. Over the last ninety days, insiders have purchased 20,000 shares of company stock valued at $205,310. Corporate insiders own 1.20% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Alliancebernstein L.P. lifted its stake in shares of Northwest Bancshares by 0.4% in the 4th quarter. Alliancebernstein L.P. now owns 160,447 shares of the savings and loans company’s stock valued at $2,668,000 after purchasing an additional 650 shares in the last quarter. Advisor Group Inc. lifted its stake in shares of Northwest Bancshares by 19.7% in the 4th quarter. Advisor Group Inc. now owns 4,467 shares of the savings and loans company’s stock valued at $74,000 after purchasing an additional 736 shares in the last quarter. Mason Street Advisors LLC lifted its stake in shares of Northwest Bancshares by 2.6% in the 4th quarter. Mason Street Advisors LLC now owns 34,926 shares of the savings and loans company’s stock valued at $581,000 after purchasing an additional 888 shares in the last quarter. BHZ Capital Management LP lifted its position in Northwest Bancshares by 2.1% during the 1st quarter. BHZ Capital Management LP now owns 57,052 shares of the savings and loans company’s stock worth $660,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Northwest Bancshares by 8.2% during the 4th quarter. Amalgamated Bank now owns 16,756 shares of the savings and loans company’s stock worth $279,000 after acquiring an additional 1,267 shares in the last quarter. 58.80% of the stock is currently owned by hedge funds and other institutional investors.
Northwest Bancshares Company Profile
Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.
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