Northwest Bancshares (NASDAQ:NWBI) PT Lowered to $10.00

Northwest Bancshares (NASDAQ:NWBI) had its price objective decreased by investment analysts at Piper Sandler from $11.00 to $10.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “underweight” rating on the savings and loans company’s stock. Piper Sandler’s target price points to a potential downside of 8.59% from the stock’s previous close.

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

Northwest Bancshares Trading Down 0.5 %

Shares of Northwest Bancshares stock opened at $10.94 on Tuesday. 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 has a fifty day moving average price of $11.29 and a 200 day moving average price of $11.50. Northwest Bancshares has a 1 year low of $9.80 and a 1 year high of $13.07. The stock has a market cap of $1.39 billion, a PE ratio of 10.62 and a beta of 0.60.

Northwest Bancshares (NASDAQ:NWBI) last issued its earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.81%. The firm had revenue of $188.20 million during the quarter, compared to analysts’ expectations of $132.80 million. Equities research analysts predict that Northwest Bancshares will post 0.95 earnings per share for the current year.

Hedge Funds Weigh In On Northwest Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC raised its stake in shares of Northwest Bancshares by 164.6% in the 4th quarter. CWM LLC now owns 4,918 shares of the savings and loans company’s stock valued at $61,000 after acquiring an additional 3,059 shares during the period. International Assets Investment Management LLC raised its stake in shares of Northwest Bancshares by 1,148.0% in the 4th quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loans company’s stock valued at $64,000 after acquiring an additional 4,684 shares during the period. IVC Wealth Advisors LLC purchased a new stake in shares of Northwest Bancshares in the 1st quarter valued at approximately $124,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Northwest Bancshares in the 3rd quarter valued at approximately $125,000. Finally, First Merchants Corp purchased a new stake in shares of Northwest Bancshares in the 4th quarter valued at approximately $126,000. 66.32% of the stock is currently owned by institutional investors and hedge funds.

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.