Northwest Bancshares (NASDAQ:NWBI) Upgraded by BidaskClub to “Sell”

BidaskClub upgraded shares of Northwest Bancshares (NASDAQ:NWBI) from a strong sell rating to a sell rating in a research report report published on Tuesday, BidAskClub reports.

Separately, Zacks Investment Research lowered shares of Northwest Bancshares from a hold rating to a sell rating in a report on Thursday, August 22nd.

NWBI traded down $0.23 during trading on Tuesday, reaching $17.24. 29,584 shares of the company traded hands, compared to its average volume of 467,608. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.02. Northwest Bancshares has a 12-month low of $15.46 and a 12-month high of $18.81. The firm has a fifty day simple moving average of $16.41 and a 200 day simple moving average of $16.87. The company has a market cap of $1.87 billion, a P/E ratio of 16.93 and a beta of 0.68.

Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Monday, October 21st. The savings and loans company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. Northwest Bancshares had a net margin of 21.99% and a return on equity of 8.65%. The business had revenue of $117.11 million during the quarter, compared to analyst estimates of $116.30 million. As a group, sell-side analysts expect that Northwest Bancshares will post 1.03 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Thursday, October 31st. Northwest Bancshares’s dividend payout ratio (DPR) is currently 70.59%.

In other Northwest Bancshares news, Director Sonia M. Probst sold 7,030 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $17.53, for a total transaction of $123,235.90. Following the completion of the sale, the director now directly owns 47,686 shares of the company’s stock, valued at approximately $835,935.58. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. 6 Meridian grew its holdings in Northwest Bancshares by 71.3% during the 3rd quarter. 6 Meridian now owns 46,644 shares of the savings and loans company’s stock valued at $764,000 after buying an additional 19,411 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Northwest Bancshares by 25.7% in the third quarter. Sequoia Financial Advisors LLC now owns 24,496 shares of the savings and loans company’s stock valued at $401,000 after purchasing an additional 5,009 shares in the last quarter. Northwest Bancshares Inc. grew its holdings in shares of Northwest Bancshares by 2.9% in the third quarter. Northwest Bancshares Inc. now owns 422,378 shares of the savings and loans company’s stock valued at $6,923,000 after purchasing an additional 11,736 shares in the last quarter. Carroll Financial Associates Inc. grew its holdings in shares of Northwest Bancshares by 4.0% in the third quarter. Carroll Financial Associates Inc. now owns 35,749 shares of the savings and loans company’s stock valued at $585,000 after purchasing an additional 1,363 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of Northwest Bancshares by 52.7% in the third quarter. State of Alaska Department of Revenue now owns 77,008 shares of the savings and loans company’s stock valued at $1,262,000 after purchasing an additional 26,574 shares in the last quarter. 70.83% of the stock is owned by institutional investors and hedge funds.

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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