Northwest Bancshares Inc. (NWBI) PT Raised to $15.00
Northwest Bancshares Inc. (NASDAQ:NWBI) had its price target upped by analysts at FBR & Co from $14.00 to $15.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has a “mkt perform” rating on the stock. FBR & Co’s price target suggests a potential downside of 4.03% from the stock’s previous close.
Several other research analysts have also recently weighed in on NWBI. Zacks Investment Research cut shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, April 26th. Royal Bank Of Canada boosted their price target on shares of Northwest Bancshares from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Monday, May 2nd.
Northwest Bancshares (NASDAQ:NWBI) traded down 0.45% during mid-day trading on Tuesday, hitting $15.63. 492,001 shares of the stock were exchanged. The company has a 50 day moving average of $15.49 and a 200 day moving average of $14.65. Northwest Bancshares has a 12-month low of $11.78 and a 12-month high of $15.79. The firm has a market cap of $1.60 billion, a P/E ratio of 38.31 and a beta of 0.53.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/09/northwest-bancshares-inc-nwbi-pt-raised-to-15-00.html
Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings results on Monday, July 25th. The company reported ($0.07) earnings per share for the quarter, missing the 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 anticipate that Northwest Bancshares will post $0.58 earnings per share for the current fiscal year.
In related news, VP Michael G. Smelko sold 10,125 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $14.98, for a total value of $151,672.50. Following the sale, the vice president now directly owns 72,171 shares in the company, valued at approximately $1,081,121.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System raised its stake in shares of Northwest Bancshares by 5.8% in the fourth quarter. California Public Employees Retirement System now owns 398,150 shares of the company’s stock valued at $5,331,000 after buying an additional 21,900 shares during the period. Wellington Management Group LLP raised its stake in shares of Northwest Bancshares by 5.6% in the first quarter. Wellington Management Group LLP now owns 6,078,818 shares of the company’s stock valued at $82,124,000 after buying an additional 320,294 shares during the period. TD Asset Management Inc. raised its stake in shares of Northwest Bancshares by 9.7% in the fourth quarter. TD Asset Management Inc. now owns 169,900 shares of the company’s stock valued at $2,275,000 after buying an additional 15,000 shares during the period. Comerica Bank raised its stake in shares of Northwest Bancshares by 5.4% in the fourth quarter. Comerica Bank now owns 249,990 shares of the company’s stock valued at $3,165,000 after buying an additional 12,711 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of Northwest Bancshares by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 188,178 shares of the company’s stock valued at $2,520,000 after buying an additional 3,055 shares during the period. Hedge funds and other institutional investors own 65.74% 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 subsidiary, Northwest Bank, is a Pennsylvania-chartered stock savings bank.
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.