Keefe, Bruyette & Woods Reaffirms Market Perform Rating for Northwest Bancshares (NASDAQ:NWBI)

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of Northwest Bancshares (NASDAQ:NWBI) in a research note published on Tuesday, Benzinga reports. The firm currently has a $12.00 price target on the savings and loans company’s stock, down from their previous price target of $13.00.

Separately, Piper Sandler lowered their price objective on shares of Northwest Bancshares from $11.00 to $10.00 and set an underweight rating on the stock in a research note on Tuesday.

Northwest Bancshares Stock Down 0.6 %

Shares of Northwest Bancshares stock opened at $10.82 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.96. Northwest Bancshares has a one year low of $9.80 and a one year high of $13.07. The company has a market cap of $1.38 billion, a P/E ratio of 10.50 and a beta of 0.60. The firm has a fifty day moving average of $11.25 and a two-hundred day moving average of $11.50.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.77%. The business had revenue of $188.20 million for the quarter, compared to analysts’ expectations of $132.80 million. On average, analysts forecast that Northwest Bancshares will post 0.92 earnings per share for the current year.

Northwest Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, May 2nd will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.39%. Northwest Bancshares’s dividend payout ratio is currently 77.67%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. IVC Wealth Advisors LLC purchased a new position in shares of Northwest Bancshares during the 1st quarter worth about $124,000. Diversified Trust Co purchased a new position in shares of Northwest Bancshares during the 1st quarter worth about $175,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Northwest Bancshares by 22.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 27,683 shares of the savings and loans company’s stock worth $323,000 after acquiring an additional 5,012 shares during the period. Courier Capital LLC lifted its holdings in shares of Northwest Bancshares by 10.2% during the 1st quarter. Courier Capital LLC now owns 13,576 shares of the savings and loans company’s stock worth $158,000 after acquiring an additional 1,253 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Northwest Bancshares by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 14,959,190 shares of the savings and loans company’s stock worth $186,691,000 after acquiring an additional 54,526 shares during the period. 66.32% of the stock is currently owned by hedge funds and other institutional investors.

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.