Northwest Bancshares, Inc. (NWBI) Receives Average Rating of “Hold” from Analysts
Northwest Bancshares, Inc. (NASDAQ:NWBI) has received an average rating of “Hold” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $16.25.
NWBI has been the topic of a number of research reports. ValuEngine lowered Northwest Bancshares from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a report on Thursday, May 11th. Zacks Investment Research upgraded Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, March 29th. DA Davidson initiated coverage on Northwest Bancshares in a report on Monday, March 6th. They issued a “neutral” rating and a $18.00 price target on the stock. Finally, BidaskClub upgraded Northwest Bancshares from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th.
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Northwest Bancshares (NWBI) traded down 1.63% during midday trading on Tuesday, hitting $15.71. The stock had a trading volume of 50,953 shares. Northwest Bancshares has a 52 week low of $13.91 and a 52 week high of $19.10. The stock has a 50-day moving average of $15.70 and a 200-day moving average of $17.05. The firm has a market cap of $1.60 billion, a P/E ratio of 32.59 and a beta of 0.62.
Hedge funds have recently modified their holdings of the stock. Glen Harbor Capital Management LLC raised 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 worth $100,000 after buying an additional 176 shares during the period. Tyers Asset Management LLC raised 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 worth $137,000 after buying an additional 242 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of Northwest Bancshares during the first quarter worth approximately $140,000. Flinton Capital Management LLC raised 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 worth $175,000 after buying an additional 308 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Northwest Bancshares during the first quarter worth approximately $185,000. Institutional investors own 67.27% 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.
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