Northwest Bancshares, Inc. (NASDAQ:NWBI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “
Other equities research analysts also recently issued research reports about the stock. DA Davidson assumed coverage on shares of Northwest Bancshares in a research note on Monday, March 6th. They set a “neutral” rating and a $18.00 target price for the company. ValuEngine cut shares of Northwest Bancshares from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research note on Thursday, May 11th. Finally, BidaskClub upgraded shares of Northwest Bancshares from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $16.60.
Shares of Northwest Bancshares (NWBI) traded up 0.50% on Tuesday, hitting $16.07. The stock had a trading volume of 386,001 shares. Northwest Bancshares has a 12 month low of $14.65 and a 12 month high of $19.10. The company has a market cap of $1.64 billion, a P/E ratio of 33.34 and a beta of 0.63. The company’s 50 day moving average price is $15.72 and its 200-day moving average price is $16.55.
Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings results on Monday, July 24th. The savings and loans company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%. The company had revenue of $124.21 million for the quarter, compared to analysts’ expectations of $116.82 million. On average, analysts expect that Northwest Bancshares will post $0.85 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: This story was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this story on another domain, it was illegally stolen and republished in violation of United States & international trademark & copyright laws. The original version of this story can be accessed at https://sportsperspectives.com/2017/07/27/northwest-bancshares-inc-nwbi-upgraded-at-zacks-investment-research-updated-updated.html.
Several institutional investors have recently bought and sold shares of NWBI. Glen Harbor Capital Management LLC raised its position 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 valued at $100,000 after buying an additional 176 shares during the last quarter. Tyers Asset Management LLC raised its position 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 valued at $137,000 after buying an additional 242 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in Northwest Bancshares during the first quarter valued at $140,000. Flinton Capital Management LLC raised its position 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 valued at $175,000 after buying an additional 308 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Northwest Bancshares during the first quarter valued at $185,000. Institutional investors and hedge funds own 66.96% of the company’s stock.
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.
Get a free copy of the Zacks research report on Northwest Bancshares (NWBI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Northwest Bancshares Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Northwest Bancshares Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.