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

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

Separately, Piper Sandler lowered their target price on Northwest Bancshares from $11.00 to $10.00 and set an underweight rating for the company in a research note on Tuesday.

Northwest Bancshares Trading Down 0.5 %

Shares of NWBI opened at $10.89 on Tuesday. Northwest Bancshares has a 1 year low of $9.80 and a 1 year high of $13.07. 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 stock has a 50 day simple moving average of $11.27 and a 200-day simple moving average of $11.49. The stock has a market cap of $1.38 billion, a PE ratio of 10.57 and a beta of 0.60.

Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share for the quarter, meeting 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 analysts’ expectations of $132.80 million. On average, sell-side analysts predict 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 dividend of $0.20 per share. The ex-dividend date is Wednesday, May 1st. This represents a $0.80 annualized dividend and a yield of 7.35%. Northwest Bancshares’s dividend payout ratio is presently 77.67%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in Northwest Bancshares by 164.6% during the fourth quarter. CWM LLC now owns 4,918 shares of the savings and loans company’s stock worth $61,000 after acquiring an additional 3,059 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Northwest Bancshares by 1,148.0% during the fourth quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loans company’s stock worth $64,000 after acquiring an additional 4,684 shares in the last quarter. IVC Wealth Advisors LLC bought a new position in Northwest Bancshares during the first quarter worth about $124,000. Kestra Private Wealth Services LLC bought a new position in Northwest Bancshares during the third quarter worth about $125,000. Finally, First Merchants Corp bought a new position in Northwest Bancshares during the fourth quarter worth about $126,000. 66.32% of the stock is currently owned by institutional investors.

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.