Northwest Bancshares (NWBI) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of Northwest Bancshares (NASDAQ:NWBI) from a sell rating to a hold rating in a research note published on Saturday.

NWBI has been the subject of several other research reports. Boenning Scattergood assumed coverage on shares of Northwest Bancshares in a research note on Monday, July 23rd. They set a hold rating for the company. Zacks Investment Research upgraded shares of Northwest Bancshares from a hold rating to a buy rating and set a $20.00 price objective for the company in a research note on Wednesday, June 20th.

NASDAQ NWBI opened at $18.20 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $1.89 billion, a P/E ratio of 19.24, a PEG ratio of 2.57 and a beta of 0.69. Northwest Bancshares has a 52 week low of $15.34 and a 52 week high of $18.56.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings data on Thursday, July 26th. The savings and loans company reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. The firm had revenue of $108.34 million during the quarter, compared to analyst estimates of $108.20 million. Northwest Bancshares had a net margin of 21.20% and a return on equity of 8.06%. research analysts forecast that Northwest Bancshares will post 1.01 earnings per share for the current fiscal year.

In other Northwest Bancshares news, CFO William W. Harvey sold 13,714 shares of the company’s stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $18.09, for a total transaction of $248,086.26. Following the transaction, the chief financial officer now owns 159,613 shares in the company, valued at approximately $2,887,399.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas J. Townsend sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $18.40, for a total transaction of $193,200.00. Following the transaction, the executive vice president now owns 24,100 shares in the company, valued at approximately $443,440. The disclosure for this sale can be found here. Insiders have sold a total of 290,415 shares of company stock worth $5,250,731 in the last 90 days. 2.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Northwest Bancshares by 6.8% during the 2nd quarter. BlackRock Inc. now owns 14,121,438 shares of the savings and loans company’s stock valued at $245,574,000 after purchasing an additional 893,203 shares in the last quarter. Northern Trust Corp increased its stake in Northwest Bancshares by 0.8% during the 1st quarter. Northern Trust Corp now owns 2,436,880 shares of the savings and loans company’s stock valued at $40,354,000 after purchasing an additional 18,900 shares in the last quarter. First Trust Advisors LP increased its stake in Northwest Bancshares by 4.8% during the 2nd quarter. First Trust Advisors LP now owns 1,569,131 shares of the savings and loans company’s stock valued at $27,287,000 after purchasing an additional 71,534 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Northwest Bancshares by 16.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,401,522 shares of the savings and loans company’s stock valued at $24,372,000 after purchasing an additional 200,572 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Northwest Bancshares by 5.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,054,591 shares of the savings and loans company’s stock valued at $18,340,000 after purchasing an additional 52,870 shares in the last quarter. Institutional investors and hedge funds own 71.16% of the company’s stock.

About Northwest Bancshares

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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