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

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

Separately, Piper Sandler reduced their target price on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday.

Northwest Bancshares Price Performance

NWBI stock traded down $0.12 on Tuesday, reaching $10.94. The company had a trading volume of 233,934 shares, compared to its average volume of 802,936. Northwest Bancshares has a 1 year low of $9.80 and a 1 year high of $13.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.95 and a current ratio of 0.96. The company’s fifty day moving average is $11.32 and its 200 day moving average is $11.50. The company has a market cap of $1.39 billion, a P/E ratio of 10.25 and a beta of 0.60.

Northwest Bancshares (NASDAQ:NWBI) last posted its earnings results 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 return on equity of 9.21% and a net margin of 19.23%. On average, research analysts forecast that Northwest Bancshares will post 0.95 earnings per share for the current year.

Insider Transactions at Northwest Bancshares

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

Institutional Inflows and Outflows

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

About Northwest Bancshares

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.