Piper Sandler Trims Northwest Bancshares (NASDAQ:NWBI) Target Price to $10.00

Northwest Bancshares (NASDAQ:NWBI) had its price target lowered by research analysts at Piper Sandler from $11.00 to $10.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “underweight” rating on the savings and loans company’s stock. Piper Sandler’s price target points to a potential downside of 9.58% from the company’s previous close.

Separately, Keefe, Bruyette & Woods lifted their price objective on shares of Northwest Bancshares from $12.00 to $13.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 23rd.

Northwest Bancshares Stock Down 0.6 %

NWBI opened at $11.06 on Tuesday. Northwest Bancshares has a fifty-two week low of $9.80 and a fifty-two week high of $13.07. The company has a market capitalization of $1.41 billion, a P/E ratio of 10.43 and a beta of 0.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.95. The firm’s fifty day moving average price is $11.32 and its two-hundred day moving average price is $11.50.

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 for the quarter, meeting the consensus estimate of $0.23. Northwest Bancshares had a net margin of 19.23% and a return on equity of 9.21%. On average, analysts anticipate that Northwest Bancshares will post 0.95 EPS for the current year.

Insider Activity

In other Northwest Bancshares news, EVP Scott J. Watson bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was acquired at an average price of $12.90 per share, with a total value of $64,500.00. Following the completion of the purchase, the executive vice president now directly owns 35,282 shares of the company’s stock, valued at approximately $455,137.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Trading of Northwest Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Northwest Bancshares during the third quarter worth about $574,000. Everence Capital Management Inc. increased its stake in shares of Northwest Bancshares by 30.2% during the 3rd quarter. Everence Capital Management Inc. now owns 21,190 shares of the savings and loans company’s stock worth $217,000 after purchasing an additional 4,920 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Northwest Bancshares by 40.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 17,021 shares of the savings and loans company’s stock worth $174,000 after purchasing an additional 4,945 shares during the period. Raymond James & Associates lifted its stake in Northwest Bancshares by 11.4% in the third quarter. Raymond James & Associates now owns 34,584 shares of the savings and loans company’s stock valued at $354,000 after purchasing an additional 3,540 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Northwest Bancshares during the third quarter valued at $199,000. 66.32% of the stock is owned by 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.