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

Northwest Bancshares (NASDAQ:NWBI) had its price target lowered by Piper Sandler from $11.00 to $10.00 in a research report report published on Tuesday, 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 note on Tuesday, January 23rd.

Northwest Bancshares Price Performance

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

Northwest Bancshares (NASDAQ:NWBI) last posted 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 for the quarter, compared to analyst estimates of $132.80 million. As a group, research analysts expect that Northwest Bancshares will post 0.92 EPS for the current fiscal year.

Northwest Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, May 2nd will be issued 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 dividend payout ratio is presently 77.67%.

Institutional Investors Weigh In On Northwest Bancshares

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of 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 valued at $186,691,000 after purchasing an additional 54,526 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of 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 valued at $108,729,000 after purchasing an additional 90,425 shares in the last quarter. Invesco Ltd. boosted 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 purchasing an additional 230,058 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 valued at $44,697,000 after purchasing an additional 78,513 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of 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 valued at $37,460,000 after purchasing an additional 53,518 shares in the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

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.