Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) have earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.00.
Several equities analysts have recently weighed in on the company. DA Davidson assumed coverage on Northwest Bancshares in a research report on Monday, March 6th. They set a “neutral” rating and a $18.00 target price on the stock. Zacks Investment Research cut Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Friday, January 13th.
In other Northwest Bancshares news, CFO William W. Harvey sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $17.72, for a total value of $177,200.00. Following the completion of the sale, the chief financial officer now directly owns 151,399 shares in the company, valued at approximately $2,682,790.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO William W. Harvey sold 11,857 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $18.49, for a total value of $219,235.93. Following the completion of the sale, the chief financial officer now owns 143,256 shares of the company’s stock, valued at $2,648,803.44. The disclosure for this sale can be found here. Insiders sold a total of 85,680 shares of company stock valued at $1,536,895 over the last quarter. Company insiders own 2.50% of the company’s stock.
Several large investors have recently modified their holdings of NWBI. Vantage Investment Advisors LLC boosted its stake in shares of Northwest Bancshares by 30.6% in the third quarter. Vantage Investment Advisors LLC now owns 7,994 shares of the savings and loans company’s stock worth $126,000 after buying an additional 1,875 shares during the period. Creative Planning boosted its stake in shares of Northwest Bancshares by 12.8% in the third quarter. Creative Planning now owns 8,449 shares of the savings and loans company’s stock worth $133,000 after buying an additional 959 shares during the period. Tyers Asset Management LLC bought a new stake in shares of Northwest Bancshares during the fourth quarter worth $143,000. Flinton Capital Management LLC bought a new stake in shares of Northwest Bancshares during the fourth quarter worth $182,000. Finally, GW Henssler & Associates Ltd. boosted its stake in shares of Northwest Bancshares by 12.8% in the third quarter. GW Henssler & Associates Ltd. now owns 11,775 shares of the savings and loans company’s stock worth $185,000 after buying an additional 1,335 shares during the period. Hedge funds and other institutional investors own 67.11% of the company’s stock.
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Northwest Bancshares (NASDAQ:NWBI) traded down 0.29% during midday trading on Tuesday, hitting $16.90. 269,118 shares of the stock were exchanged. The company has a market capitalization of $1.72 billion, a P/E ratio of 34.49 and a beta of 0.62. The company’s 50 day moving average is $17.00 and its 200 day moving average is $17.23. Northwest Bancshares has a 1-year low of $13.40 and a 1-year high of $19.10.
Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Monday, January 23rd. The savings and loans company reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. The firm had revenue of $107.76 million for the quarter, compared to the consensus estimate of $111.40 million. Northwest Bancshares had a return on equity of 7.31% and a net margin of 11.46%. Analysts predict that Northwest Bancshares will post $0.93 earnings per share for the current fiscal year.
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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