Northwest Bancshares, Inc. (NASDAQ:NWBI) has received a consensus rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $17.25.
Several analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Northwest Bancshares from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research note on Wednesday, January 3rd. Boenning Scattergood reiterated a “hold” rating on shares of Northwest Bancshares in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $16.00 target price on shares of Northwest Bancshares in a research report on Sunday, October 8th. Finally, BidaskClub cut shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th.
Shares of Northwest Bancshares (NWBI) traded up $0.21 during trading on Monday, reaching $16.92. 345,954 shares of the company’s stock traded hands, compared to its average volume of 469,098. Northwest Bancshares has a twelve month low of $14.95 and a twelve month high of $18.63. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1,710.00, a PE ratio of 17.81, a price-to-earnings-growth ratio of 1.62 and a beta of 0.63.
In other news, COO Ronald J. Seiffert bought 6,300 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was bought at an average cost of $16.30 per share, for a total transaction of $102,690.00. Following the transaction, the chief operating officer now owns 6,300 shares of the company’s stock, valued at $102,690. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan P. Scalise sold 6,047 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $17.21, for a total transaction of $104,068.87. Following the completion of the transaction, the executive vice president now owns 18,402 shares of the company’s stock, valued at $316,698.42. The disclosure for this sale can be found here. Insiders sold a total of 25,639 shares of company stock valued at $435,808 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its position in Northwest Bancshares by 2.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,284 shares of the savings and loans company’s stock worth $114,000 after purchasing an additional 180 shares in the last quarter. SG Americas Securities LLC increased its position in Northwest Bancshares by 32.9% during the 2nd quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock worth $133,000 after purchasing an additional 2,112 shares in the last quarter. Shelton Capital Management acquired a new position in Northwest Bancshares during the 2nd quarter worth approximately $158,000. Riverhead Capital Management LLC increased its position in Northwest Bancshares by 53.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 10,160 shares of the savings and loans company’s stock worth $159,000 after purchasing an additional 3,560 shares in the last quarter. Finally, Clinton Group Inc. acquired a new position in Northwest Bancshares during the 2nd quarter worth approximately $160,000. Institutional investors and hedge funds own 64.51% of the company’s stock.
Northwest Bancshares Company Profile
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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