Northwest Bancshares’ (NWBI) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Northwest Bancshares (NASDAQ:NWBI) in a research note released on Tuesday, Benzinga reports. Keefe, Bruyette & Woods 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 dropped their price target on shares of 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 0.6 %

NWBI stock opened at $10.82 on Tuesday. The firm has a market cap of $1.38 billion, a PE ratio of 10.50 and a beta of 0.60. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.96. The firm’s fifty day moving average is $11.25 and its 200 day moving average is $11.50. Northwest Bancshares has a one year low of $9.80 and a one year high of $13.07.

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

Northwest Bancshares Announces Dividend

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

Institutional Trading of Northwest Bancshares

Several institutional investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. grew its position in shares of Northwest Bancshares by 5.7% in the third quarter. B. Riley Wealth Advisors Inc. now owns 18,241 shares of the savings and loans company’s stock valued at $187,000 after purchasing an additional 989 shares during the period. HBK Sorce Advisory LLC grew its position in shares of Northwest Bancshares by 6.2% in the third quarter. HBK Sorce Advisory LLC now owns 17,984 shares of the savings and loans company’s stock valued at $184,000 after purchasing an additional 1,042 shares during the period. Van Hulzen Asset Management LLC lifted its stake in shares of Northwest Bancshares by 4.1% in the third quarter. Van Hulzen Asset Management LLC now owns 30,700 shares of the savings and loans company’s stock worth $314,000 after buying an additional 1,200 shares in the last quarter. Northwest Bancshares Inc. lifted its stake in shares of Northwest Bancshares by 0.4% in the third quarter. Northwest Bancshares Inc. now owns 338,068 shares of the savings and loans company’s stock worth $3,458,000 after buying an additional 1,211 shares in the last quarter. Finally, Courier Capital LLC lifted its stake in shares of Northwest Bancshares by 10.2% in the first quarter. Courier Capital LLC now owns 13,576 shares of the savings and loans company’s stock worth $158,000 after buying an additional 1,253 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.