Northwest Bancshares, Inc. (NASDAQ:NWBI) Receives $12.50 Average Target Price from Analysts

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Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) have earned a consensus recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $12.50.

Several research firms recently commented on NWBI. BidaskClub lowered shares of Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Zacks Investment Research upgraded shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, B. Riley started coverage on shares of Northwest Bancshares in a report on Friday, June 19th. They set a “buy” rating and a $12.50 price objective on the stock.

In other Northwest Bancshares news, EVP Mark T. Reitzes purchased 3,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were purchased at an average cost of $10.25 per share, with a total value of $30,750.00. Following the completion of the purchase, the executive vice president now owns 3,000 shares in the company, valued at approximately $30,750. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Timothy M. Hunter purchased 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average cost of $10.35 per share, for a total transaction of $155,250.00. Over the last ninety days, insiders have acquired 20,000 shares of company stock worth $205,310. Insiders own 1.20% of the company’s stock.

Several large investors have recently bought and sold shares of the company. State Street Corp raised its stake in Northwest Bancshares by 24.8% during the first quarter. State Street Corp now owns 4,091,283 shares of the savings and loans company’s stock worth $47,336,000 after purchasing an additional 813,697 shares during the period. Royal Bank of Canada raised its stake in Northwest Bancshares by 107.4% during the first quarter. Royal Bank of Canada now owns 59,495 shares of the savings and loans company’s stock worth $688,000 after purchasing an additional 30,805 shares during the period. Verus Capital Partners LLC raised its stake in Northwest Bancshares by 233.7% during the first quarter. Verus Capital Partners LLC now owns 2,803 shares of the savings and loans company’s stock worth $32,000 after purchasing an additional 1,963 shares during the period. Advisor Group Holdings Inc. purchased a new position in Northwest Bancshares during the first quarter worth about $172,000. Finally, Engineers Gate Manager LP purchased a new position in Northwest Bancshares during the first quarter worth about $407,000. 58.80% of the stock is currently owned by hedge funds and other institutional investors.

NWBI stock traded down $0.03 during midday trading on Friday, hitting $9.71. 405,996 shares of the stock traded hands, compared to its average volume of 878,668. The firm has a market cap of $1.30 billion, a P/E ratio of 11.31 and a beta of 0.62. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s fifty day simple moving average is $10.02 and its 200-day simple moving average is $12.92. Northwest Bancshares has a 1-year low of $8.52 and a 1-year high of $17.74.

Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings results on Monday, April 27th. The savings and loans company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.10). The firm had revenue of $115.20 million for the quarter, compared to analyst estimates of $113.77 million. Northwest Bancshares had a net margin of 17.84% and a return on equity of 6.94%. On average, research analysts predict that Northwest Bancshares will post 0.58 earnings per share for the current year.

About Northwest Bancshares

Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.

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