Northwest Bancshares (NWBI) Rating Increased to Hold at BidaskClub

Northwest Bancshares (NASDAQ:NWBI) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other research analysts have also recently issued reports on NWBI. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $16.00 price objective on shares of Northwest Bancshares in a research report on Sunday, October 8th. Boenning Scattergood reaffirmed a “hold” rating on shares of Northwest Bancshares in a research report on Tuesday, October 24th. Finally, Zacks Investment Research cut Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $16.67.

Northwest Bancshares (NASDAQ NWBI) opened at $16.85 on Wednesday. The stock has a market capitalization of $1,740.00, a PE ratio of 19.00, a PEG ratio of 1.98 and a beta of 0.63. Northwest Bancshares has a 1 year low of $14.95 and a 1 year high of $18.63. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.19.

Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings data on Monday, October 23rd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The business had revenue of $107.83 million during the quarter, compared to analysts’ expectations of $106.63 million. Northwest Bancshares had a return on equity of 7.88% and a net margin of 21.88%. equities research analysts predict that Northwest Bancshares will post 0.85 earnings per share for the current year.

In other news, EVP Gerald J. Ritzert sold 9,592 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $16.57, for a total value of $158,939.44. Following the completion of the sale, the executive vice president now directly owns 50,657 shares of the company’s stock, valued at approximately $839,386.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy M. Hunter bought 2,000 shares of Northwest Bancshares stock in a transaction dated Thursday, December 7th. The stock was purchased at an average cost of $16.75 per share, with a total value of $33,500.00. Following the completion of the acquisition, the director now directly owns 15,100 shares in the company, valued at approximately $252,925. The disclosure for this purchase can be found here. Insiders sold a total of 25,639 shares of company stock valued at $435,808 over the last three months. Company insiders own 2.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of NWBI. Renaissance Technologies LLC lifted its holdings in shares of Northwest Bancshares by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,644,554 shares of the savings and loans company’s stock valued at $41,281,000 after purchasing an additional 576,154 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Northwest Bancshares by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,574,522 shares of the savings and loans company’s stock valued at $133,848,000 after purchasing an additional 367,413 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of Northwest Bancshares in the 2nd quarter valued at about $237,000. Citadel Advisors LLC lifted its holdings in shares of Northwest Bancshares by 232.1% in the 2nd quarter. Citadel Advisors LLC now owns 301,147 shares of the savings and loans company’s stock valued at $4,701,000 after purchasing an additional 210,455 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Northwest Bancshares in the 3rd quarter valued at about $3,044,000. 64.51% of the stock is owned by institutional investors and hedge funds.

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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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