Keefe, Bruyette & Woods Reaffirms “Hold” Rating for Northwest Bancshares, Inc. (NWBI)

Northwest Bancshares, Inc. (NASDAQ:NWBI)‘s stock had its “hold” rating restated by equities research analysts at Keefe, Bruyette & Woods in a note issued to investors on Sunday, October 8th. They currently have a $16.00 price objective on the savings and loans company’s stock. Keefe, Bruyette & Woods’ target price suggests a potential downside of 8.57% from the stock’s previous close.

NWBI has been the topic of a number of other reports. Zacks Investment Research upgraded Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub downgraded Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $16.50.

Northwest Bancshares (NWBI) traded down 0.17% during mid-day trading on Friday, reaching $17.47. 72,269 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.79 billion, a P/E ratio of 20.36 and a beta of 0.65. Northwest Bancshares has a one year low of $14.95 and a one year high of $19.10. The company’s 50-day moving average is $16.52 and its 200 day moving average is $16.04.

Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Monday, July 24th. The savings and loans company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%. The firm had revenue of $124.21 million for the quarter, compared to analyst estimates of $116.82 million. Equities analysts predict that Northwest Bancshares will post $0.93 earnings per share for the current fiscal year.

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In related news, Director Philip M. Tredway sold 13,560 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $16.13, for a total transaction of $218,722.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew Young sold 5,625 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $16.18, for a total value of $91,012.50. Following the transaction, the executive vice president now owns 60,254 shares in the company, valued at $974,909.72. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in NWBI. Public Employees Retirement System of Ohio increased its stake in Northwest Bancshares by 2.5% during the second quarter. Public Employees Retirement System of Ohio now owns 7,284 shares of the savings and loans company’s stock worth $114,000 after acquiring an additional 180 shares during the last quarter. SG Americas Securities LLC increased its stake in Northwest Bancshares by 32.9% during the second quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock worth $133,000 after acquiring an additional 2,112 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Northwest Bancshares during the first quarter worth about $140,000. Shelton Capital Management acquired a new stake in Northwest Bancshares during the second quarter worth about $158,000. Finally, Riverhead Capital Management LLC increased its stake in Northwest Bancshares by 53.9% during the second quarter. Riverhead Capital Management LLC now owns 10,160 shares of the savings and loans company’s stock worth $159,000 after acquiring an additional 3,560 shares during the last quarter. Institutional investors own 65.35% of the company’s stock.

About Northwest Bancshares

Northwest Bancshares, Inc (Northwest) is a savings and loan holding company. The Company’s principal business consists of attracting deposits and making loans secured by various types of collateral, including real estate and other assets in the markets in which it operates. Its segments include Community Banking and Consumer Finance.

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