Northwest Bancshares (NASDAQ:NWBI) Given “Market Perform” Rating at Keefe, Bruyette & Woods

Northwest Bancshares (NASDAQ:NWBI)‘s stock had its “market perform” rating reiterated by research analysts at Keefe, Bruyette & Woods in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $12.00 price objective on the savings and loans company’s stock, down from their prior price objective of $13.00. Keefe, Bruyette & Woods’ price target suggests a potential upside of 9.69% from the stock’s current price.

Separately, Piper Sandler reduced their price target on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday.

Northwest Bancshares Stock Down 0.5 %

NASDAQ NWBI opened at $10.94 on Tuesday. The stock has a market capitalization of $1.39 billion, a P/E ratio of 10.62 and a beta of 0.60. Northwest Bancshares has a 52 week low of $9.80 and a 52 week high of $13.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a fifty day moving average of $11.29 and a 200-day moving average of $11.50.

Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Monday, April 22nd. The savings and loans company reported $0.23 EPS for the quarter, hitting analysts’ consensus estimates of $0.23. The firm had revenue of $188.20 million during the quarter, compared to analyst estimates of $132.80 million. Northwest Bancshares had a return on equity of 8.81% and a net margin of 17.84%. On average, equities research analysts forecast that Northwest Bancshares will post 0.95 EPS for the current year.

Institutional Investors Weigh In On Northwest Bancshares

Several hedge funds have recently bought and sold shares of NWBI. Invesco Ltd. grew its holdings in shares of Northwest Bancshares by 4.9% in the 3rd quarter. Invesco Ltd. now owns 4,917,212 shares of the savings and loans company’s stock valued at $50,303,000 after buying an additional 230,058 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Northwest Bancshares by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,503,007 shares of the savings and loans company’s stock worth $35,836,000 after acquiring an additional 138,879 shares in the last quarter. Raymond James & Associates grew its stake in Northwest Bancshares by 11.4% in the third quarter. Raymond James & Associates now owns 34,584 shares of the savings and loans company’s stock valued at $354,000 after acquiring an additional 3,540 shares during the period. Denali Advisors LLC bought a new stake in shares of Northwest Bancshares in the fourth quarter worth about $253,000. Finally, Illinois Municipal Retirement Fund acquired a new stake in shares of Northwest Bancshares during the third quarter worth about $745,000. 66.32% of the stock is currently owned by institutional investors and hedge funds.

About Northwest Bancshares

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.