Northwest Bancshares (NASDAQ:NWBI – Get Free Report) had its target price cut by equities research analysts at Piper Sandler from $11.00 to $10.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the savings and loans company’s stock. Piper Sandler’s target price suggests a potential downside of 8.59% from the stock’s previous close.
Separately, Keefe, Bruyette & Woods boosted their target price on shares of Northwest Bancshares from $12.00 to $13.00 and gave the company a “market perform” rating in a report on Tuesday, January 23rd.
Check Out Our Latest Stock Analysis on Northwest Bancshares
Northwest Bancshares Stock Down 0.5 %
Northwest Bancshares (NASDAQ:NWBI – Get Free Report) last issued its quarterly earnings data on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. The business had revenue of $188.20 million for the quarter, compared to the consensus estimate of $132.80 million. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.81%. Research analysts anticipate that Northwest Bancshares will post 0.95 EPS for the current year.
Hedge Funds Weigh In On Northwest Bancshares
A number of hedge funds have recently bought and sold shares of the company. Invesco Ltd. lifted its stake in Northwest Bancshares by 4.9% during 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 acquiring an additional 230,058 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Northwest Bancshares by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,503,007 shares of the savings and loans company’s stock valued at $35,836,000 after purchasing an additional 138,879 shares during the last quarter. Raymond James & Associates increased its position in shares of Northwest Bancshares by 11.4% during the 3rd quarter. Raymond James & Associates now owns 34,584 shares of the savings and loans company’s stock valued at $354,000 after purchasing an additional 3,540 shares during the last quarter. Denali Advisors LLC purchased a new stake in shares of Northwest Bancshares during the 4th quarter valued at about $253,000. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Northwest Bancshares during the 3rd quarter valued at about $745,000. Institutional investors own 66.32% of the company’s stock.
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.
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