Northwest Bancshares (NWBI) Rating Increased to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Northwest Bancshares (NASDAQ:NWBI) from a buy rating to a strong-buy rating in a report published on Tuesday.

Several other research firms have also recently weighed in on NWBI. Zacks Investment Research cut shares of Northwest Bancshares from a buy rating to a hold rating in a report on Tuesday, September 25th. Boenning Scattergood reiterated a hold rating on shares of Northwest Bancshares in a research note on Tuesday, October 23rd.

Northwest Bancshares stock opened at $17.29 on Tuesday. Northwest Bancshares has a fifty-two week low of $15.50 and a fifty-two week high of $18.56. The stock has a market cap of $1.79 billion, a P/E ratio of 20.58, a PEG ratio of 2.39 and a beta of 0.71. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.01 and a current ratio of 1.01.

Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings results on Monday, October 22nd. The savings and loans company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. Northwest Bancshares had a net margin of 21.95% and a return on equity of 8.27%. The business had revenue of $108.37 million for the quarter, compared to analysts’ expectations of $109.30 million. As a group, research analysts anticipate that Northwest Bancshares will post 1.03 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Wednesday, October 31st. Northwest Bancshares’s payout ratio is 80.95%.

In other Northwest Bancshares news, EVP Thomas J. Townsend sold 10,500 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $18.40, for a total value of $193,200.00. Following the transaction, the executive vice president now directly owns 24,100 shares in the company, valued at $443,440. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teachers Advisors LLC boosted its stake in Northwest Bancshares by 1.5% in the third quarter. Teachers Advisors LLC now owns 191,184 shares of the savings and loans company’s stock valued at $3,311,000 after acquiring an additional 2,848 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Northwest Bancshares by 13.5% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,628 shares of the savings and loans company’s stock valued at $427,000 after purchasing an additional 2,924 shares during the period. Bessemer Group Inc. raised its position in shares of Northwest Bancshares by 0.8% in the second quarter. Bessemer Group Inc. now owns 418,944 shares of the savings and loans company’s stock valued at $7,286,000 after purchasing an additional 3,200 shares during the period. Stone Ridge Asset Management LLC raised its position in shares of Northwest Bancshares by 6.6% in the third quarter. Stone Ridge Asset Management LLC now owns 75,511 shares of the savings and loans company’s stock valued at $1,308,000 after purchasing an additional 4,652 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Northwest Bancshares in the second quarter valued at approximately $112,000. Hedge funds and other institutional investors own 72.28% of the company’s stock.

Northwest Bancshares Company Profile

Northwest Bancshares, Inc operates as a bank holding company for Northwest Savings Bank that offers various personal and business banking solutions in the United States. The company offers personal and business deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts.

Further Reading: Fundamental Analysis

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