BidaskClub upgraded shares of Northwest Bancshares (NASDAQ:NWBI) from a hold rating to a buy rating in a research report report published on Thursday, June 21st.
A number of other research firms have also commented on NWBI. Zacks Investment Research upgraded shares of Northwest Bancshares from a hold rating to a buy rating and set a $20.00 price objective on the stock in a research note on Wednesday, June 20th. Boenning Scattergood reiterated a hold rating on shares of Northwest Bancshares in a research note on Wednesday, June 13th. Finally, Keefe, Bruyette & Woods restated a hold rating and set a $17.00 target price on shares of Northwest Bancshares in a research report on Tuesday, February 27th.
Northwest Bancshares opened at $17.39 on Thursday, MarketBeat reports. The company has a market capitalization of $1.79 billion, a P/E ratio of 19.00, a P/E/G ratio of 2.51 and a beta of 0.65. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.01 and a quick ratio of 1.01. Northwest Bancshares has a fifty-two week low of $15.06 and a fifty-two week high of $18.20.
Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings data on Monday, April 23rd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. Northwest Bancshares had a net margin of 21.53% and a return on equity of 7.78%. The business had revenue of $103.56 million during the quarter, compared to analysts’ expectations of $106.47 million. sell-side analysts expect that Northwest Bancshares will post 1 EPS for the current year.
In related news, EVP Jonathan P. Scalise sold 10,088 shares of the firm’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $17.52, for a total transaction of $176,741.76. Following the completion of the sale, the executive vice president now directly owns 26,652 shares of the company’s stock, valued at approximately $466,943.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO David E. Westerburg sold 18,178 shares of the stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $17.53, for a total transaction of $318,660.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,802 shares of company stock worth $662,473. 2.20% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of Northwest Bancshares by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 802,004 shares of the savings and loans company’s stock worth $13,282,000 after buying an additional 17,318 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in Northwest Bancshares by 27.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 19,904 shares of the savings and loans company’s stock valued at $330,000 after buying an additional 4,300 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Northwest Bancshares during the 1st quarter valued at about $636,000. Guggenheim Capital LLC grew its stake in shares of Northwest Bancshares by 71.5% in the 1st quarter. Guggenheim Capital LLC now owns 35,438 shares of the savings and loans company’s stock worth $587,000 after purchasing an additional 14,774 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Northwest Bancshares by 61.7% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,414 shares of the savings and loans company’s stock worth $237,000 after purchasing an additional 5,501 shares during the last quarter. Institutional investors own 68.33% of the company’s stock.
Northwest Bancshares Company Profile
Northwest Bancshares, Inc operates as a bank holding company for Northwest Savings Bank that offers various personal and business banking solutions in the United States. The company offers personal and business deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts.
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