Northwest Bancshares (NWBI) Earns “Hold” Rating from Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reiterated their hold rating on shares of Northwest Bancshares (NASDAQ:NWBI) in a research note issued to investors on Tuesday. Keefe, Bruyette & Woods currently has a $17.00 target price on the savings and loans company’s stock.
A number of other research analysts have also issued reports on NWBI. Zacks Investment Research lowered Northwest Bancshares from a buy rating to a hold rating in a report on Wednesday, February 21st. Boenning Scattergood reiterated a hold rating on shares of Northwest Bancshares in a report on Tuesday, January 23rd. Finally, BidaskClub upgraded Northwest Bancshares from a sell rating to a hold rating in a report on Wednesday, December 20th. Six research analysts have rated the stock with a hold rating, The company currently has a consensus rating of Hold and an average target price of $17.50.
Northwest Bancshares (NASDAQ:NWBI) opened at $16.65 on Tuesday. The stock has a market capitalization of $1,680.00, a price-to-earnings ratio of 18.71, a P/E/G ratio of 1.59 and a beta of 0.64. Northwest Bancshares has a fifty-two week low of $14.95 and a fifty-two week high of $18.23. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.18.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, January 31st. This is a positive change from Northwest Bancshares’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 4.08%. Northwest Bancshares’s dividend payout ratio (DPR) is 76.40%.
In other Northwest Bancshares news, EVP Gerald J. Ritzert sold 10,800 shares of Northwest Bancshares stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $16.57, for a total transaction of $178,956.00. Following the completion of the sale, the executive vice president now directly owns 45,857 shares of the company’s stock, valued at approximately $759,850.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William W. Harvey sold 10,000 shares of Northwest Bancshares stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $17.28, for a total value of $172,800.00. Following the sale, the chief financial officer now directly owns 158,649 shares of the company’s stock, valued at $2,741,454.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,964 shares of company stock valued at $859,911. 2.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in NWBI. BlackRock Inc. lifted its holdings in Northwest Bancshares by 4.3% during the 4th quarter. BlackRock Inc. now owns 13,113,000 shares of the savings and loans company’s stock worth $219,380,000 after buying an additional 535,670 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Northwest Bancshares by 185.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 503,919 shares of the savings and loans company’s stock worth $8,431,000 after buying an additional 327,659 shares during the last quarter. Dean Investment Associates LLC lifted its holdings in Northwest Bancshares by 319.4% during the 4th quarter. Dean Investment Associates LLC now owns 267,159 shares of the savings and loans company’s stock worth $4,470,000 after buying an additional 203,459 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Northwest Bancshares by 33.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 562,856 shares of the savings and loans company’s stock worth $9,416,000 after buying an additional 142,041 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Northwest Bancshares by 165.0% during the 4th quarter. American Century Companies Inc. now owns 218,642 shares of the savings and loans company’s stock worth $3,658,000 after buying an additional 136,146 shares during the last quarter. 65.61% of the stock is owned by institutional investors.
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Northwest Bancshares Company Profile
Northwest Bancshares, Inc (Northwest) is a savings and loan holding company. The Company’s principal business consists of attracting deposits and making loans secured by various types of collateral, including real estate and other assets in the markets in which it operates. Its segments include Community Banking and Consumer Finance.
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