Zacks Investment Research cut shares of Northwest Bancshares (NASDAQ:NWBI) from a hold rating to a sell rating in a research note released on Thursday, Zacks.com reports.

According to Zacks, “Northwest Bancorp, Inc. is a bank holding company whose sole activity is the ownership of all of the issued and outstanding common stock of Northwest Savings Bank and the majority ownership of Jamestown Savings Bank. Northwest Savings Bank is a stock savings bank. The bank is a community-oriented institution offering traditional deposit and loan products, and through its subsidiaries, consumer finance services. “

Several other equities research analysts have also issued reports on NWBI. Boenning Scattergood reaffirmed a neutral rating on shares of Northwest Bancshares in a research report on Thursday, June 20th. BidaskClub lowered Northwest Bancshares from a hold rating to a sell rating in a research report on Monday, June 24th.

NASDAQ NWBI opened at $15.80 on Thursday. The firm has a market capitalization of $1.73 billion, a P/E ratio of 15.74, a PEG ratio of 2.23 and a beta of 0.65. The business has a fifty day simple moving average of $16.97 and a 200 day simple moving average of $17.29. Northwest Bancshares has a 12 month low of $15.50 and a 12 month high of $18.81. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22.

Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Monday, July 22nd. The savings and loans company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.03). Northwest Bancshares had a net margin of 21.50% and a return on equity of 8.31%. The business had revenue of $115.97 million for the quarter, compared to analysts’ expectations of $117.86 million. As a group, sell-side analysts predict that Northwest Bancshares will post 1.04 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.56%. The ex-dividend date was Wednesday, July 31st. Northwest Bancshares’s dividend payout ratio is presently 70.59%.

Several institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Northwest Bancshares by 2.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 29,964 shares of the savings and loans company’s stock valued at $528,000 after purchasing an additional 626 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Northwest Bancshares by 1.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 40,709 shares of the savings and loans company’s stock worth $717,000 after acquiring an additional 700 shares during the period. 6 Meridian grew its stake in shares of Northwest Bancshares by 2.7% during the 2nd quarter. 6 Meridian now owns 27,233 shares of the savings and loans company’s stock worth $480,000 after acquiring an additional 725 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Northwest Bancshares by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 39,600 shares of the savings and loans company’s stock worth $695,000 after acquiring an additional 800 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of Northwest Bancshares by 0.5% during the 1st quarter. Arizona State Retirement System now owns 159,954 shares of the savings and loans company’s stock worth $2,714,000 after acquiring an additional 872 shares during the period. 70.54% of the stock is owned by hedge funds and other institutional investors.

Northwest Bancshares Company Profile

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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