Brokerages Set Northwest Bancshares, Inc. (NASDAQ:NWBI) Target Price at $12.01

Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) have been assigned a consensus rating of “Hold” from the seven brokerages that are covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $12.01.

Several research analysts recently weighed in on NWBI shares. B. Riley lowered Northwest Bancshares from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $16.00 to $13.51 in a research report on Tuesday, July 27th. Keefe, Bruyette & Woods started coverage on Northwest Bancshares in a report on Monday, July 26th. They set a “market perform” rating and a $13.51 price target for the company. Zacks Investment Research upgraded shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, August 19th. Finally, Boenning Scattergood reissued a “neutral” rating on shares of Northwest Bancshares in a research note on Monday, July 26th.

Shares of NWBI traded down $0.07 during midday trading on Tuesday, reaching $12.43. The company had a trading volume of 636,073 shares, compared to its average volume of 621,484. Northwest Bancshares has a 1-year low of $8.84 and a 1-year high of $15.48. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $13.09 and a 200-day simple moving average of $13.83. The stock has a market cap of $1.58 billion, a PE ratio of 9.77 and a beta of 0.64.

Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings data on Sunday, July 25th. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.04). The firm had revenue of $150.44 million for the quarter, compared to analyst estimates of $135.13 million. Northwest Bancshares had a return on equity of 10.71% and a net margin of 27.46%. As a group, sell-side analysts anticipate that Northwest Bancshares will post 1.12 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Shareholders of record on Thursday, August 5th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.44%. The ex-dividend date of this dividend was Wednesday, August 4th. Northwest Bancshares’s dividend payout ratio is presently 73.39%.

In other news, Director Timothy M. Hunter acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, August 12th. The stock was acquired at an average cost of $13.41 per share, with a total value of $134,100.00. Following the transaction, the director now owns 104,900 shares in the company, valued at $1,406,709. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.80% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. CX Institutional purchased a new stake in Northwest Bancshares in the second quarter valued at $27,000. Meeder Asset Management Inc. increased its position in shares of Northwest Bancshares by 90.1% during the second quarter. Meeder Asset Management Inc. now owns 3,232 shares of the savings and loans company’s stock worth $44,000 after purchasing an additional 1,532 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Northwest Bancshares by 1,489.6% during the first quarter. Captrust Financial Advisors now owns 3,974 shares of the savings and loans company’s stock worth $57,000 after purchasing an additional 3,724 shares in the last quarter. Pinz Capital Management LP purchased a new stake in shares of Northwest Bancshares in the 1st quarter valued at about $131,000. Finally, Axiom Investment Management LLC acquired a new stake in shares of Northwest Bancshares in the 1st quarter valued at about $145,000. 61.45% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Northwest Bancshares (NASDAQ:NWBI)

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