Analysts Set Northwest Bancshares, Inc. (NASDAQ:NWBI) PT at $12.01

Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) have been assigned an average rating of “Hold” from the seven research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $12.01.

Several brokerages have recently commented on NWBI. Keefe, Bruyette & Woods began coverage on Northwest Bancshares in a research note on Monday, July 26th. They issued a “market perform” rating and a $13.51 target price for the company. Boenning Scattergood reiterated a “neutral” rating on shares of Northwest Bancshares in a research note on Monday, July 26th. Zacks Investment Research downgraded Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, September 28th. Finally, B. Riley downgraded Northwest Bancshares from a “buy” rating to a “neutral” rating and cut their price target for the company from $16.00 to $13.51 in a research note on Tuesday, July 27th.

Shares of NWBI stock traded up $0.13 during mid-day trading on Friday, hitting $13.97. The company’s stock had a trading volume of 10,217 shares, compared to its average volume of 618,277. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 0.92. The company’s fifty day simple moving average is $13.10 and its 200-day simple moving average is $13.65. The company has a market cap of $1.77 billion, a PE ratio of 10.81 and a beta of 0.64. Northwest Bancshares has a 52 week low of $9.82 and a 52 week high of $15.48.

Northwest Bancshares (NASDAQ:NWBI) last issued its earnings results on Sunday, July 25th. The savings and loans company reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.04). The firm had revenue of $150.44 million during the quarter, compared to analyst estimates of $135.13 million. Northwest Bancshares had a net margin of 27.46% and a return on equity of 10.71%. On average, equities analysts anticipate that Northwest Bancshares will post 1.12 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 16th. Stockholders of record on Thursday, August 5th were paid a $0.20 dividend. The ex-dividend date was Wednesday, August 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.73%. Northwest Bancshares’s payout ratio is presently 73.39%.

In other Northwest Bancshares news, Director Timothy M. Hunter bought 10,000 shares of the business’s stock in a transaction dated Thursday, August 12th. The shares were purchased at an average price of $13.41 per share, for a total transaction of $134,100.00. Following the purchase, the director now directly owns 104,900 shares of the company’s stock, valued at $1,406,709. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in NWBI. CX Institutional purchased a new position in shares of Northwest Bancshares in the 2nd quarter worth approximately $27,000. Meeder Asset Management Inc. boosted its stake in shares of Northwest Bancshares by 90.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,232 shares of the savings and loans company’s stock worth $44,000 after buying an additional 1,532 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Northwest Bancshares by 1,489.6% in the 1st quarter. Captrust Financial Advisors now owns 3,974 shares of the savings and loans company’s stock worth $57,000 after purchasing an additional 3,724 shares during the period. Pinz Capital Management LP bought a new stake in shares of Northwest Bancshares in the 1st quarter worth approximately $131,000. Finally, Axiom Investment Management LLC bought a new stake in shares of Northwest Bancshares in the 1st quarter worth approximately $145,000. Hedge funds and other institutional investors own 61.45% of the company’s stock.

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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Analyst Recommendations for Northwest Bancshares (NASDAQ:NWBI)

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