Northwest Bancshares (NASDAQ:NWBI) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Wednesday, December 20th.
A number of other brokerages have also issued reports on NWBI. Boenning Scattergood reiterated a “hold” rating on shares of Northwest Bancshares in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $16.00 price target on shares of Northwest Bancshares in a research report on Sunday, October 8th. Finally, Zacks Investment Research lowered Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 26th. Five analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $17.25.
Shares of Northwest Bancshares (NASDAQ NWBI) traded up $0.05 on Wednesday, reaching $16.97. The company had a trading volume of 363,916 shares, compared to its average volume of 457,400. The company has a market cap of $1,740.00, a P/E ratio of 17.86, a P/E/G ratio of 1.62 and a beta of 0.63. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.99 and a current ratio of 0.99. Northwest Bancshares has a 52-week low of $14.95 and a 52-week high of $18.63.
Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings results on Monday, October 23rd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. Northwest Bancshares had a return on equity of 7.54% and a net margin of 20.59%. The company had revenue of $107.83 million during the quarter, compared to analyst estimates of $106.63 million. equities analysts predict that Northwest Bancshares will post 0.83 EPS for the current year.
In other news, Director Timothy M. Hunter acquired 2,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was acquired at an average price of $16.75 per share, for a total transaction of $33,500.00. Following the completion of the acquisition, the director now directly owns 15,100 shares in the company, valued at approximately $252,925. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jonathan P. Scalise sold 6,047 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $17.21, for a total value of $104,068.87. Following the completion of the sale, the executive vice president now owns 18,402 shares of the company’s stock, valued at approximately $316,698.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,639 shares of company stock valued at $435,808. Insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its holdings in shares of Northwest Bancshares by 2.5% during the second quarter. Public Employees Retirement System of Ohio now owns 7,284 shares of the savings and loans company’s stock valued at $114,000 after purchasing an additional 180 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Northwest Bancshares by 32.9% during the second quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock valued at $133,000 after purchasing an additional 2,112 shares during the last quarter. Shelton Capital Management purchased a new stake in shares of Northwest Bancshares during the second quarter valued at $158,000. Riverhead Capital Management LLC lifted its holdings in shares of Northwest Bancshares by 53.9% during the second quarter. Riverhead Capital Management LLC now owns 10,160 shares of the savings and loans company’s stock valued at $159,000 after purchasing an additional 3,560 shares during the last quarter. Finally, Clinton Group Inc. purchased a new stake in shares of Northwest Bancshares during the second quarter valued at $160,000. 64.51% of the stock is owned by institutional investors and hedge funds.
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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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