Northwest Bancshares (NASDAQ:NWBI) Trading 5.2% Higher

Northwest Bancshares, Inc. (NASDAQ:NWBI)’s share price traded up 5.2% during mid-day trading on Monday . The company traded as high as $17.56 and last traded at $17.52, 631,800 shares were traded during trading. An increase of 36% from the average session volume of 465,803 shares. The stock had previously closed at $16.66.

A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. BidaskClub cut Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 15th.

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $1.78 billion, a PE ratio of 17.18 and a beta of 0.68. The stock has a 50-day moving average price of $16.37 and a two-hundred day moving average price of $16.87.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings data on Monday, July 22nd. The savings and loans company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). Northwest Bancshares had a net margin of 21.50% and a return on equity of 8.31%. The company had revenue of $115.97 million for the quarter, compared to analysts’ expectations of $117.86 million. As a group, equities analysts predict that Northwest Bancshares, Inc. will post 1.03 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the company. CWM LLC purchased a new position in shares of Northwest Bancshares during the 2nd quarter valued at about $38,000. Krane Funds Advisors LLC purchased a new position in shares of Northwest Bancshares during the 2nd quarter valued at about $60,000. US Bancorp DE lifted its position in shares of Northwest Bancshares by 150.4% during the 2nd quarter. US Bancorp DE now owns 4,970 shares of the savings and loans company’s stock valued at $88,000 after buying an additional 2,985 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Northwest Bancshares during the 2nd quarter valued at about $97,000. Finally, NEXT Financial Group Inc lifted its holdings in Northwest Bancshares by 6,628.0% in the 2nd quarter. NEXT Financial Group Inc now owns 6,728 shares of the savings and loans company’s stock worth $118,000 after purchasing an additional 6,628 shares in the last quarter. 70.83% of the stock is currently owned by hedge funds and other institutional investors.

About Northwest Bancshares (NASDAQ:NWBI)

Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.

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