Northwest Bancshares (NASDAQ:NWBI) Now Covered by Raymond James

Investment analysts at Raymond James initiated coverage on shares of Northwest Bancshares (NASDAQ:NWBI) in a note issued to investors on Wednesday, The Fly reports. The firm set a “market perform” rating on the savings and loans company’s stock.

NWBI has been the topic of several other research reports. Zacks Investment Research cut Northwest Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. BidaskClub cut Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Finally, ValuEngine upgraded Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $19.00.

NWBI opened at $16.76 on Wednesday. The business has a 50 day moving average price of $16.74 and a two-hundred day moving average price of $16.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.28. The company has a market cap of $1.80 billion, a PE ratio of 16.43 and a beta of 0.67. Northwest Bancshares has a 52 week low of $15.46 and a 52 week high of $18.81.

Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Monday, October 21st. The savings and loans company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.05. Northwest Bancshares had a return on equity of 8.57% and a net margin of 21.99%. The company had revenue of $117.11 million for the quarter, compared to analysts’ expectations of $116.30 million. As a group, sell-side analysts expect that Northwest Bancshares will post 1.09 EPS for the current fiscal year.

In other Northwest Bancshares news, EVP Michael G. Smelko sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $16.98, for a total transaction of $220,740.00. Following the transaction, the executive vice president now owns 92,596 shares in the company, valued at approximately $1,572,280.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sonia M. Probst sold 7,030 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $17.53, for a total value of $123,235.90. Following the transaction, the director now owns 47,686 shares in the company, valued at approximately $835,935.58. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Northwest Bancshares by 2.0% in the 2nd quarter. BlackRock Inc. now owns 15,573,520 shares of the savings and loans company’s stock worth $274,250,000 after acquiring an additional 305,917 shares during the period. Vanguard Group Inc. grew its holdings in shares of Northwest Bancshares by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 10,790,484 shares of the savings and loans company’s stock worth $190,020,000 after acquiring an additional 200,718 shares during the period. First Trust Advisors LP grew its holdings in shares of Northwest Bancshares by 13.5% in the 3rd quarter. First Trust Advisors LP now owns 2,615,219 shares of the savings and loans company’s stock worth $42,863,000 after acquiring an additional 311,292 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Northwest Bancshares by 31.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,687,684 shares of the savings and loans company’s stock worth $29,718,000 after acquiring an additional 400,589 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Northwest Bancshares by 3.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,555,280 shares of the savings and loans company’s stock worth $27,389,000 after acquiring an additional 56,134 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Northwest Bancshares Company Profile

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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