Brokerages Set $15.00 Target Price for Northwest Bancshares Inc. (NASDAQ:NWBI)
Northwest Bancshares Inc. (NASDAQ:NWBI) has earned a consensus broker rating score of 2.75 (Hold) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. Northwest Bancshares’ rating score has declined by 3% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 1 year consensus target price of $15.00 for the company and are predicting that the company will post $0.24 EPS for the current quarter, according to Zacks. Zacks has also assigned Northwest Bancshares an industry rank of 165 out of 265 based on the ratings given to its competitors.
A number of research firms have recently commented on NWBI. FBR & Co boosted their price objective on Northwest Bancshares from $14.00 to $15.00 and gave the company a “mkt perform” rating in a research report on Tuesday, July 26th. Zacks Investment Research upgraded Northwest Bancshares from a “hold” rating to a “strong-buy” rating and set a $17.00 price target for the company in a research report on Thursday, July 28th. Finally, Keefe, Bruyette & Woods boosted their price target on Northwest Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 13th.
Northwest Bancshares (NASDAQ:NWBI) traded down 0.89% during mid-day trading on Friday, reaching $15.56. The company’s stock had a trading volume of 132,258 shares. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 38.14 and a beta of 0.53. The firm’s 50 day moving average price is $15.48 and its 200 day moving average price is $14.63. Northwest Bancshares has a 12-month low of $11.78 and a 12-month high of $15.79.
Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings data on Monday, July 25th. The company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.27. Northwest Bancshares had a net margin of 9.62% and a return on equity of 6.16%. On average, equities analysts predict that Northwest Bancshares will post $0.58 earnings per share for the current year.
In related news, VP Michael G. Smelko sold 10,125 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $14.98, for a total transaction of $151,672.50. Following the completion of the sale, the vice president now directly owns 72,171 shares in the company, valued at $1,081,121.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NWBI. Cambridge Investment Research Advisors Inc. raised its position in Northwest Bancshares by 0.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 34,971 shares of the company’s stock worth $519,000 after buying an additional 215 shares during the period. Commonwealth Equity Services Inc raised its position in Northwest Bancshares by 1.1% in the second quarter. Commonwealth Equity Services Inc now owns 20,207 shares of the company’s stock worth $300,000 after buying an additional 220 shares during the period. Miles Capital Inc. raised its position in Northwest Bancshares by 1.5% in the second quarter. Miles Capital Inc. now owns 22,492 shares of the company’s stock worth $334,000 after buying an additional 325 shares during the period. Nisa Investment Advisors LLC raised its position in Northwest Bancshares by 3.5% in the second quarter. Nisa Investment Advisors LLC now owns 13,350 shares of the company’s stock worth $198,000 after buying an additional 450 shares during the period. Finally, PineBridge Investments L.P. raised its position in Northwest Bancshares by 3.9% in the second quarter. PineBridge Investments L.P. now owns 12,917 shares of the company’s stock worth $192,000 after buying an additional 481 shares during the period. 65.74% of the stock is currently owned by institutional investors.
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 subsidiary, Northwest Bank, is a Pennsylvania-chartered stock savings bank.
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