Northwest Bancshares (NASDAQ:NWBI – Get Free Report)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Keefe, Bruyette & Woods in a research report issued on Tuesday, Benzinga reports. They currently have a $12.00 price target on the savings and loans company’s stock, down from their previous price target of $13.00. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 9.69% from the company’s current price.
Separately, Piper Sandler cut their target price on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday.
View Our Latest Research Report on NWBI
Northwest Bancshares Price Performance
Northwest Bancshares (NASDAQ:NWBI – Get Free Report) last announced its earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. Northwest Bancshares had a return on equity of 8.81% and a net margin of 17.84%. The company had revenue of $188.20 million during the quarter, compared to the consensus estimate of $132.80 million. Equities research analysts anticipate that Northwest Bancshares will post 0.95 earnings per share for the current fiscal year.
Institutional Trading of Northwest Bancshares
Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Northwest Bancshares in the 3rd quarter worth approximately $574,000. Everence Capital Management Inc. lifted its stake in Northwest Bancshares by 30.2% during the third quarter. Everence Capital Management Inc. now owns 21,190 shares of the savings and loans company’s stock worth $217,000 after purchasing an additional 4,920 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Northwest Bancshares by 40.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 17,021 shares of the savings and loans company’s stock worth $174,000 after purchasing an additional 4,945 shares during the period. Raymond James & Associates increased its stake in Northwest Bancshares by 11.4% during the third quarter. Raymond James & Associates now owns 34,584 shares of the savings and loans company’s stock valued at $354,000 after purchasing an additional 3,540 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Northwest Bancshares during the third quarter worth $199,000. 66.32% of the stock is owned by institutional investors.
About Northwest Bancshares
Northwest Bancshares, Inc operates as the bank holding company for Northwest Bank, a state-chartered savings bank that provides personal and business banking solutions. The company accepts various deposits, including checking, savings, money market deposit, term certificate, and individual retirement accounts.
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