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

Northwest Bancshares (NASDAQ:NWBI) had its target price decreased by Piper Sandler from $11.00 to $10.00 in a report released on Tuesday morning, Benzinga reports. Piper Sandler currently has an underweight rating on the savings and loans company’s stock.

Separately, Keefe, Bruyette & Woods raised their price objective on Northwest Bancshares from $12.00 to $13.00 and gave the stock a market perform rating in a research report on Tuesday, January 23rd.

Northwest Bancshares Trading Down 0.6 %

Shares of NASDAQ NWBI opened at $10.82 on Tuesday. Northwest Bancshares has a one year low of $9.80 and a one year high of $13.07. The firm has a market capitalization of $1.38 billion, a PE ratio of 10.50 and a beta of 0.60. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $11.25 and a two-hundred day moving average price 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. Northwest Bancshares had a return on equity of 8.77% and a net margin of 17.84%. The firm had revenue of $188.20 million during the quarter, compared to analyst estimates of $132.80 million. As a group, analysts predict that Northwest Bancshares will post 0.92 earnings per share for the current fiscal year.

Northwest Bancshares Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Northwest Bancshares by 0.4% in 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 buying an additional 54,526 shares during the period. Dimensional Fund Advisors LP increased its position in Northwest Bancshares by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,712,088 shares of the savings and loans company’s stock worth $108,729,000 after buying an additional 90,425 shares during the period. Invesco Ltd. increased its position in 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 worth $50,303,000 after buying an additional 230,058 shares during the period. Charles Schwab Investment Management Inc. increased its position in Northwest Bancshares by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,581,520 shares of the savings and loans company’s stock worth $44,697,000 after buying an additional 78,513 shares during the period. Finally, Victory Capital Management Inc. increased its position in Northwest Bancshares by 1.8% in the 4th quarter. Victory Capital Management Inc. now owns 3,001,622 shares of the savings and loans company’s stock worth $37,460,000 after buying an additional 53,518 shares during the period. 66.32% of the stock is owned by 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.