Northwest Bancshares (NASDAQ:NWBI) Stock Rating Lowered by BidaskClub

Northwest Bancshares (NASDAQ:NWBI) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Tuesday, BidAskClub reports.

Several other analysts have also issued reports on the stock. Raymond James initiated coverage on shares of Northwest Bancshares in a research report on Wednesday, November 27th. They set a “market perform” rating for the company. ValuEngine upgraded shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Zacks Investment Research lowered shares of Northwest Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Northwest Bancshares has a consensus rating of “Hold” and an average target price of $19.00.

Shares of NWBI traded up $0.10 during mid-day trading on Tuesday, reaching $16.49. The company’s stock had a trading volume of 7,855 shares, compared to its average volume of 513,051. Northwest Bancshares has a 52 week low of $15.46 and a 52 week high of $18.81. The stock has a market cap of $1.76 billion, a PE ratio of 16.18 and a beta of 0.65. The company’s fifty day moving average price is $16.57 and its two-hundred day moving average price is $16.69. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.28.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings results on Monday, October 21st. The savings and loans company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. Northwest Bancshares had a net margin of 21.99% and a return on equity of 8.57%. The business had revenue of $117.11 million during the quarter, compared to the consensus estimate of $116.30 million. Research analysts anticipate that Northwest Bancshares will post 1.1 EPS for the current year.

In related news, Director Sonia M. Probst sold 7,030 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $17.53, for a total transaction of $123,235.90. Following the completion of the transaction, the director now owns 47,686 shares in the company, valued at $835,935.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John P. Meegan sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $16.80, for a total value of $100,800.00. Following the completion of the sale, the director now directly owns 65,350 shares of the company’s stock, valued at approximately $1,097,880. The disclosure for this sale can be found here. Insiders have sold 51,714 shares of company stock worth $871,130 over the last three months. Insiders own 1.40% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Northwest Bancshares in the 1st quarter worth about $146,000. Bank of Montreal Can boosted its stake in shares of Northwest Bancshares by 209.0% during the 2nd quarter. Bank of Montreal Can now owns 12,464 shares of the savings and loans company’s stock valued at $220,000 after purchasing an additional 8,430 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Northwest Bancshares by 3.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,555,280 shares of the savings and loans company’s stock valued at $27,389,000 after purchasing an additional 56,134 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Northwest Bancshares by 2.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 442,116 shares of the savings and loans company’s stock valued at $7,786,000 after purchasing an additional 10,825 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Northwest Bancshares by 150.4% during the 2nd quarter. US Bancorp DE now owns 4,970 shares of the savings and loans company’s stock valued at $88,000 after purchasing an additional 2,985 shares in the last quarter. 69.82% of the stock is currently owned by institutional investors and hedge funds.

About Northwest Bancshares

Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.

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