Northwest Bancshares (NASDAQ:NWBI) Rating Reiterated by Keefe, Bruyette & Woods

Northwest Bancshares (NASDAQ:NWBI)‘s stock had its “market perform” rating reiterated by equities researchers at Keefe, Bruyette & Woods in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $12.00 price objective on the savings and loans company’s stock, down from their prior price objective of $13.00. Keefe, Bruyette & Woods’ target price indicates a potential upside of 9.69% from the stock’s current price.

Separately, Piper Sandler cut their price objective on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday.

Northwest Bancshares Stock Performance

NASDAQ NWBI traded down $0.12 on Tuesday, reaching $10.94. 233,934 shares of the stock were exchanged, compared to its average volume of 802,936. Northwest Bancshares has a one year low of $9.80 and a one year high of $13.07. The firm has a market capitalization of $1.39 billion, a PE ratio of 10.25 and a beta of 0.60. The company’s 50-day simple moving average is $11.32 and its two-hundred day simple moving average is $11.50. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41.

Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. Northwest Bancshares had a net margin of 19.23% and a return on equity of 9.21%. Analysts expect that Northwest Bancshares will post 0.95 EPS for the current fiscal year.

Insider Activity at Northwest Bancshares

In other Northwest Bancshares news, EVP Scott J. Watson bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was purchased at an average cost of $12.90 per share, with a total value of $64,500.00. Following the completion of the acquisition, the executive vice president now owns 35,282 shares in the company, valued at approximately $455,137.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in Northwest Bancshares during the fourth quarter worth $7,107,000. Hsbc Holdings PLC boosted its stake in Northwest Bancshares by 3,568.5% during the fourth quarter. Hsbc Holdings PLC now owns 580,655 shares of the savings and loans company’s stock worth $7,298,000 after buying an additional 564,827 shares during the period. Verition Fund Management LLC boosted its stake in Northwest Bancshares by 2,299.6% during the fourth quarter. Verition Fund Management LLC now owns 418,013 shares of the savings and loans company’s stock worth $5,217,000 after buying an additional 400,593 shares during the period. Invesco Ltd. boosted its stake in Northwest Bancshares by 4.9% during the third quarter. Invesco Ltd. now owns 4,917,212 shares of the savings and loans company’s stock worth $50,303,000 after buying an additional 230,058 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Northwest Bancshares by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,503,007 shares of the savings and loans company’s stock worth $35,836,000 after buying an additional 138,879 shares during the period. 66.32% of the stock is owned by hedge funds and other institutional investors.

Northwest Bancshares Company Profile

Northwest Bancshares, Inc operates as the bank holding company for Northwest Bank, a state-chartered savings bank that provides personal and business banking solutions. The company accepts various deposits, including checking, savings, money market deposit, term certificate, and individual retirement accounts.