Northwest Bancshares, Inc. (NWBI) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

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

NWBI has been the topic of several other reports. Zacks Investment Research raised Northwest Bancshares from a sell rating to a hold rating in a research report on Tuesday, July 4th. BidaskClub raised Northwest Bancshares from a strong sell rating to a sell rating in a research report on Saturday, June 10th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Northwest Bancshares presently has an average rating of Hold and an average price target of $16.50.

Shares of Northwest Bancshares (NASDAQ NWBI) opened at 17.48 on Friday. The company has a market capitalization of $1.79 billion, a PE ratio of 20.37 and a beta of 0.65. Northwest Bancshares has a 1-year low of $14.95 and a 1-year high of $19.10. The stock’s 50 day moving average price is $16.39 and its 200-day moving average price is $16.03.

Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings data on Monday, July 24th. The savings and loans company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%. The company had revenue of $124.21 million for the quarter, compared to analysts’ expectations of $116.82 million. On average, equities analysts predict that Northwest Bancshares will post $0.93 EPS for the current year.

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In other Northwest Bancshares news, EVP Andrew Young sold 5,625 shares of the stock in a transaction dated Thursday, September 14th. The stock was 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Philip M. Tredway sold 13,560 shares of the stock in a transaction dated 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.

A number of hedge funds have recently bought and sold shares of NWBI. Bank of New York Mellon Corp lifted its holdings in Northwest Bancshares by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 1,447,006 shares of the savings and loans company’s stock valued at $24,368,000 after acquiring an additional 45,763 shares during the period. Swiss National Bank lifted its holdings in Northwest Bancshares by 2.0% in the first quarter. Swiss National Bank now owns 160,300 shares of the savings and loans company’s stock valued at $2,699,000 after acquiring an additional 3,100 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in Northwest Bancshares by 60.0% in the first quarter. UBS Asset Management Americas Inc. now owns 63,589 shares of the savings and loans company’s stock valued at $1,071,000 after acquiring an additional 23,837 shares during the period. Karp Capital Management Corp bought a new position in Northwest Bancshares in the first quarter valued at about $411,000. Finally, Ameriprise Financial Inc. lifted its holdings in Northwest Bancshares by 3.4% in the first quarter. Ameriprise Financial Inc. now owns 654,160 shares of the savings and loans company’s stock valued at $11,016,000 after acquiring an additional 21,210 shares during the period. 65.39% of the stock is currently owned by institutional investors.

Northwest Bancshares Company Profile

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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