Northwest Bancshares (NASDAQ:NWBI) Price Target Lowered to $10.00 at Piper Sandler

Northwest Bancshares (NASDAQ:NWBI) had its price target decreased by Piper Sandler from $11.00 to $10.00 in a research note published on Tuesday, Benzinga reports. Piper Sandler currently has an underweight rating on the savings and loans company’s stock.

Separately, Keefe, Bruyette & Woods raised their target price on Northwest Bancshares from $12.00 to $13.00 and gave the stock a market perform rating in a research note on Tuesday, January 23rd.

Northwest Bancshares Trading Down 0.5 %

Shares of NWBI stock opened at $10.89 on Tuesday. The stock’s fifty day moving average is $11.27 and its two-hundred day moving average is $11.49. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market capitalization of $1.38 billion, a P/E ratio of 10.57 and a beta of 0.60. Northwest Bancshares has a fifty-two week low of $9.80 and a fifty-two week high of $13.07.

Northwest Bancshares (NASDAQ:NWBI) last issued its earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. Northwest Bancshares had a return on equity of 8.77% and a net margin of 17.84%. The business had revenue of $188.20 million during the quarter, compared to the consensus estimate of $132.80 million. Research analysts expect that Northwest Bancshares will post 0.92 earnings per share for the current fiscal year.

Northwest Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, May 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.35%. The ex-dividend date is Wednesday, May 1st. Northwest Bancshares’s payout ratio is 77.67%.

Institutional Trading of Northwest Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. increased its position in shares of Northwest Bancshares by 4.9% during the 3rd quarter. Invesco Ltd. now owns 4,917,212 shares of the savings and loans company’s stock worth $50,303,000 after purchasing an additional 230,058 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Northwest Bancshares by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,503,007 shares of the savings and loans company’s stock worth $35,836,000 after purchasing an additional 138,879 shares during the last quarter. Raymond James & Associates increased its position in shares of Northwest Bancshares by 11.4% during the 3rd quarter. Raymond James & Associates now owns 34,584 shares of the savings and loans company’s stock worth $354,000 after purchasing an additional 3,540 shares during the last quarter. Denali Advisors LLC acquired a new position in Northwest Bancshares in the 4th quarter valued at about $253,000. Finally, Illinois Municipal Retirement Fund acquired a new position in Northwest Bancshares in the 3rd quarter valued at about $745,000. 66.32% of the stock is owned by institutional investors and hedge funds.

About Northwest Bancshares

Northwest Bancshares, Inc operates as the bank holding company for Northwest Bank, a state-chartered savings bank that provides personal and business banking solutions. The company accepts various deposits, including checking, savings, money market deposit, term certificate, and individual retirement accounts.