Northwest Bancshares, Inc. (NASDAQ:NWBI) – Equities researchers at Piper Sandler increased their Q1 2021 EPS estimates for Northwest Bancshares in a report issued on Tuesday, September 15th. Piper Sandler analyst F. Schiraldi now forecasts that the savings and loans company will earn $0.18 per share for the quarter, up from their prior estimate of $0.17. Piper Sandler also issued estimates for Northwest Bancshares’ Q2 2021 earnings at $0.19 EPS, Q3 2021 earnings at $0.23 EPS and Q4 2021 earnings at $0.24 EPS.
A number of other research analysts have also recently commented on the company. BidaskClub upgraded Northwest Bancshares from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 9th. B. Riley started coverage on Northwest Bancshares in a research note on Friday, June 19th. They issued a “buy” rating and a $12.50 target price for the company. Finally, ValuEngine cut Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Northwest Bancshares currently has a consensus rating of “Hold” and a consensus price target of $15.25.
NASDAQ NWBI opened at $10.21 on Wednesday. Northwest Bancshares has a fifty-two week low of $8.52 and a fifty-two week high of $17.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50 day simple moving average of $10.11 and a two-hundred day simple moving average of $10.56. The stock has a market cap of $1.30 billion, a P/E ratio of 17.90 and a beta of 0.63.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings data on Monday, July 27th. The savings and loans company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.18. Northwest Bancshares had a return on equity of 6.97% and a net margin of 11.31%. The business had revenue of $133.57 million for the quarter, compared to analysts’ expectations of $125.99 million.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP purchased a new position in Northwest Bancshares during the first quarter valued at $407,000. BNP Paribas Arbitrage SA increased its holdings in shares of Northwest Bancshares by 5.9% in the first quarter. BNP Paribas Arbitrage SA now owns 42,185 shares of the savings and loans company’s stock worth $488,000 after purchasing an additional 2,334 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Northwest Bancshares by 149.2% in the first quarter. Squarepoint Ops LLC now owns 159,429 shares of the savings and loans company’s stock worth $1,845,000 after purchasing an additional 95,440 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Northwest Bancshares by 1.8% in the first quarter. Legal & General Group Plc now owns 294,789 shares of the savings and loans company’s stock worth $3,411,000 after purchasing an additional 5,150 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Northwest Bancshares in the second quarter worth about $300,000. Institutional investors own 64.49% of the company’s stock.
About Northwest Bancshares
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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