Northwest Bancshares, Inc. (NASDAQ:NWBI) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) from a hold rating to a sell rating in a report issued on Thursday.

According to Zacks, “Northwest Bancorp, Inc. is a bank holding company whose sole activity is the ownership of all of the issued and outstanding common stock of Northwest Savings Bank and the majority ownership of Jamestown Savings Bank. Northwest Savings Bank is a stock savings bank. The bank is a community-oriented institution offering traditional deposit and loan products, and through its subsidiaries, consumer finance services. “

Other equities research analysts have also recently issued reports about the company. BidaskClub cut Northwest Bancshares from a sell rating to a strong sell rating in a research note on Saturday, June 24th. ValuEngine cut Northwest Bancshares from a buy rating to a hold rating and set a $16.00 price target for the company. in a research note on Thursday, May 11th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $16.60.

Northwest Bancshares (NASDAQ:NWBI) traded down 0.06% during trading on Thursday, hitting $16.06. The stock had a trading volume of 320,872 shares. The stock’s 50-day moving average is $15.73 and its 200-day moving average is $16.53. The stock has a market capitalization of $1.64 billion, a PE ratio of 33.32 and a beta of 0.63. Northwest Bancshares has a 52-week low of $14.65 and a 52-week high of $19.10.

Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings data on Monday, July 24th. The savings and loans company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $124.21 million during the quarter, compared to analysts’ expectations of $116.82 million. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%. On average, analysts predict that Northwest Bancshares will post $0.85 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Tuesday, August 1st. Northwest Bancshares’s dividend payout ratio (DPR) is presently 75.29%.

In other Northwest Bancshares news, Director Philip M. Tredway sold 13,560 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $16.13, for a total value of $218,722.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue boosted its stake in Northwest Bancshares by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 11,240 shares of the savings and loans company’s stock worth $189,000 after buying an additional 140 shares during the period. Glen Harbor Capital Management LLC boosted its stake in Northwest Bancshares by 3.1% in the first quarter. Glen Harbor Capital Management LLC now owns 5,936 shares of the savings and loans company’s stock worth $100,000 after buying an additional 176 shares during the period. Tyers Asset Management LLC boosted its stake in Northwest Bancshares by 3.1% in the first quarter. Tyers Asset Management LLC now owns 8,162 shares of the savings and loans company’s stock worth $137,000 after buying an additional 242 shares during the period. Flinton Capital Management LLC boosted its stake in Northwest Bancshares by 3.1% in the first quarter. Flinton Capital Management LLC now owns 10,388 shares of the savings and loans company’s stock worth $175,000 after buying an additional 308 shares during the period. Finally, Wedge Capital Management L L P NC boosted its stake in Northwest Bancshares by 1.3% in the first quarter. Wedge Capital Management L L P NC now owns 25,024 shares of the savings and loans company’s stock worth $421,000 after buying an additional 330 shares during the period. Institutional investors own 66.96% 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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