Northwest Bancshares’ (NWBI) “Hold” Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their hold rating on shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) in a report published on Sunday morning. The brokerage currently has a $16.00 target price on the savings and loans company’s stock.

A number of other equities research analysts also recently issued reports on the company. BidaskClub downgraded Northwest Bancshares from a sell rating to a strong sell rating in a research note on Saturday, June 24th. Zacks Investment Research upgraded Northwest Bancshares from a sell rating to a hold rating in a research note on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $16.50.

Shares of Northwest Bancshares (NASDAQ:NWBI) opened at 17.52 on Friday. Northwest Bancshares has a one year low of $14.95 and a one year high of $19.10. The stock has a 50 day moving average of $16.22 and a 200-day moving average of $16.02. The stock has a market capitalization of $1.80 billion, a P/E ratio of 20.42 and a beta of 0.65.

Northwest Bancshares (NASDAQ:NWBI) last released its quarterly 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 business had revenue of $124.21 million during the quarter, compared to the consensus estimate of $116.82 million. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%. Equities analysts forecast that Northwest Bancshares will post $0.93 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Northwest Bancshares’ (NWBI) “Hold” Rating Reaffirmed at Keefe, Bruyette & Woods” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another website, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be read at https://ledgergazette.com/2017/10/09/northwest-bancshares-nwbi-hold-rating-reaffirmed-at-keefe-bruyette-woods.html.

In related news, Director Philip M. Tredway sold 13,560 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $16.13, for a total transaction of $218,722.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Young sold 5,625 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $16.18, for a total value of $91,012.50. Following the transaction, the executive vice president now owns 60,254 shares of the company’s stock, valued at $974,909.72. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Several large investors have recently made changes to their positions in NWBI. BlackRock Inc. grew its stake in shares of Northwest Bancshares by 52,513.7% during the 1st quarter. BlackRock Inc. now owns 12,529,950 shares of the savings and loans company’s stock valued at $211,005,000 after acquiring an additional 12,506,135 shares during the period. Renaissance Technologies LLC grew its stake in shares of Northwest Bancshares by 27.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,644,554 shares of the savings and loans company’s stock valued at $41,281,000 after acquiring an additional 576,154 shares during the period. Vanguard Group Inc. grew its stake in shares of Northwest Bancshares by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 9,155,426 shares of the savings and loans company’s stock valued at $154,177,000 after acquiring an additional 478,726 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Northwest Bancshares by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,574,522 shares of the savings and loans company’s stock valued at $133,848,000 after acquiring an additional 367,413 shares during the period. Finally, Denver Investment Advisors LLC grew its stake in shares of Northwest Bancshares by 42.6% during the 2nd quarter. Denver Investment Advisors LLC now owns 1,144,535 shares of the savings and loans company’s stock valued at $17,866,000 after acquiring an additional 341,916 shares during the period. Institutional investors own 6

A number of other equities research analysts also recently issued reports on the company. BidaskClub downgraded Northwest Bancshares from a sell rating to a strong sell rating in a research note on Saturday, June 24th. Zacks Investment Research upgraded Northwest Bancshares from a sell rating to a hold rating in a research note on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $16.50.

Shares of Northwest Bancshares (NASDAQ:NWBI) opened at 17.52 on Friday. Northwest Bancshares has a one year low of $14.95 and a one year high of $19.10. The stock has a 50 day moving average of $16.22 and a 200-day moving average of $16.02. The stock has a market capitalization of $1.80 billion, a P/E ratio of 20.42 and a beta of 0.65.

Northwest Bancshares (NASDAQ:NWBI) last released its quarterly 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 business had revenue of $124.21 million during the quarter, compared to the consensus estimate of $116.82 million. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%. Equities analysts forecast that Northwest Bancshares will post $0.93 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Northwest Bancshares’ (NWBI) “Hold” Rating Reaffirmed at Keefe, Bruyette & Woods” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another website, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be read at https://ledgergazette.com/2017/10/09/northwest-bancshares-nwbi-hold-rating-reaffirmed-at-keefe-bruyette-woods.html.

In related news, Director Philip M. Tredway sold 13,560 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $16.13, for a total transaction of $218,722.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Young sold 5,625 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $16.18, for a total value of $91,012.50. Following the transaction, the executive vice president now owns 60,254 shares of the company’s stock, valued at $974,909.72. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Several large investors have recently made changes to their positions in NWBI. BlackRock Inc. grew its stake in shares of Northwest Bancshares by 52,513.7% during the 1st quarter. BlackRock Inc. now owns 12,529,950 shares of the savings and loans company’s stock valued at $211,005,000 after acquiring an additional 12,506,135 shares during the period. Renaissance Technologies LLC grew its stake in shares of Northwest Bancshares by 27.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,644,554 shares of the savings and loans company’s stock valued at $41,281,000 after acquiring an additional 576,154 shares during the period. Vanguard Group Inc. grew its stake in shares of Northwest Bancshares by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 9,155,426 shares of the savings and loans company’s stock valued at $154,177,000 after acquiring an additional 478,726 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Northwest Bancshares by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,574,522 shares of the savings and loans company’s stock valued at $133,848,000 after acquiring an additional 367,413 shares during the period. Finally, Denver Investment Advisors LLC grew its stake in shares of Northwest Bancshares by 42.6% during the 2nd quarter. Denver Investment Advisors LLC now owns 1,144,535 shares of the savings and loans company’s stock valued at $17,866,000 after acquiring an additional 341,916 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.

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