Northwest Bancshares, Inc. (NWBI) Earns “Hold” Rating from Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reissued their hold rating on shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) in a research note issued to investors on Sunday. The brokerage currently has a $16.00 price target on the savings and loans company’s stock.
Other analysts have also issued research reports about the company. Zacks Investment Research raised Northwest Bancshares from a sell rating to a hold rating in a report on Tuesday, July 4th. BidaskClub raised Northwest Bancshares from a strong sell rating to a sell rating in a report on Saturday, June 10th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock currently has an average rating of Hold and a consensus target price of $16.50.
Northwest Bancshares (NASDAQ:NWBI) opened at 17.56 on Friday. Northwest Bancshares has a 12 month low of $14.95 and a 12 month high of $19.10. The firm has a 50 day moving average price of $16.34 and a 200-day moving average price of $16.02. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 20.47 and a beta of 0.65.
Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Monday, July 24th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. The firm had revenue of $124.21 million for the quarter, compared to analyst estimates of $116.82 million. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%. On average, equities analysts forecast that Northwest Bancshares will post $0.93 EPS for the current year.
In other Northwest Bancshares news, EVP Andrew Young sold 5,625 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $16.18, for a total value of $91,012.50. Following the sale, the executive vice president now owns 60,254 shares of the company’s stock, valued at approximately $974,909.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Philip M. Tredway sold 13,560 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $16.13, for a total value of $218,722.80. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio lifted its position in shares of Northwest Bancshares by 2.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,284 shares of the savings and loans company’s stock worth $114,000 after acquiring an additional 180 shares during the period. Koch Industries Inc. bought a new stake in shares of Northwest Bancshares in the 2nd quarter worth approximately $237,000. Verition Fund Management LLC lifted its position in shares of Northwest Bancshares by 13.7% in the 2nd quarter. Verition Fund Management LLC now owns 25,799 shares of the savings and loans company’s stock worth $403,000 after acquiring an additional 3,108 shares during the period. Piedmont Investment Advisors LLC bought a new stake in shares of Northwest Bancshares in the 2nd quarter worth approximately $344,000. Finally, Susquehanna International Group LLP lifted its position in shares of Northwest Bancshares by 543.1% in the 2nd quarter. Susquehanna International Group LLP now owns 108,037 shares of the savings and loans company’s stock worth $1,686,000 after acquiring an additional 91,237 shares during the period. Institutional investors own 65.39% of the company’s stock.
About Northwest Bancshares
Northwest Bancshares, Inc (Northwest) is a savings and loan holding company. The Company’s principal business consists of attracting deposits and making loans secured by various types of collateral, including real estate and other assets in the markets in which it operates. Its segments include Community Banking and Consumer Finance.
Receive News & Stock Ratings for Northwest Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northwest Bancshares Inc. and related stocks with our FREE daily email newsletter.