Northwest Bancshares, Inc. (NWBI) Stock Rating Upgraded by Zacks Investment Research

Northwest Bancshares, Inc. (NASDAQ:NWBI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, July 4th.

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. “

NWBI has been the subject of several other reports. BidaskClub raised Northwest Bancshares from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. DA Davidson began coverage on Northwest Bancshares in a research report on Monday, March 6th. They issued a “neutral” rating and a $18.00 price objective for the company. Finally, ValuEngine downgraded Northwest Bancshares from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Thursday, May 11th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Northwest Bancshares has an average rating of “Hold” and a consensus target price of $16.60.

Shares of Northwest Bancshares (NASDAQ:NWBI) opened at 15.36 on Tuesday. The stock’s 50 day moving average price is $15.63 and its 200-day moving average price is $16.63. The stock has a market cap of $1.57 billion, a PE ratio of 31.87 and a beta of 0.63. Northwest Bancshares has a one year low of $14.65 and a one year high of $19.10.

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Several hedge funds have recently modified their holdings of NWBI. State of Alaska Department of Revenue increased its stake in shares of 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 valued at $189,000 after buying an additional 140 shares in the last quarter. Glen Harbor Capital Management LLC increased its stake in shares of 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 valued at $100,000 after buying an additional 176 shares in the last quarter. Tyers Asset Management LLC increased its stake in shares of 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 valued at $137,000 after buying an additional 242 shares in the last quarter. Flinton Capital Management LLC increased its stake in shares of 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 valued at $175,000 after buying an additional 308 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its stake in shares of 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 valued at $421,000 after buying an additional 330 shares in the last quarter. 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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