Northwest Bancshares (NASDAQ:NWBI) Upgraded by StockNews.com to “Hold” Rating

Northwest Bancshares (NASDAQ:NWBI) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Northwest Bancshares Trading Down 0.5 %

NWBI stock traded down $0.08 during trading on Tuesday, hitting $14.88. The company had a trading volume of 627,950 shares, compared to its average volume of 723,039. The business has a 50-day moving average of $13.41 and a 200-day moving average of $12.49. Northwest Bancshares has a one year low of $10.45 and a one year high of $15.35. The stock has a market cap of $1.89 billion, a PE ratio of 19.58 and a beta of 0.62. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28.

Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Tuesday, October 29th. The savings and loans company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Northwest Bancshares had a return on equity of 8.24% and a net margin of 13.19%. The firm had revenue of $199.21 million during the quarter, compared to the consensus estimate of $140.80 million. During the same quarter in the prior year, the company earned $0.31 EPS. Research analysts predict that Northwest Bancshares will post 1.02 earnings per share for the current fiscal year.

Institutional Trading of Northwest Bancshares

Several institutional investors have recently made changes to their positions in NWBI. Nisa Investment Advisors LLC increased its holdings in Northwest Bancshares by 93.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,935 shares of the savings and loans company’s stock worth $34,000 after purchasing an additional 1,420 shares during the period. Innealta Capital LLC acquired a new position in shares of Northwest Bancshares in the 2nd quarter valued at about $61,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Northwest Bancshares by 66.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,769 shares of the savings and loans company’s stock valued at $67,000 after buying an additional 2,304 shares during the period. International Assets Investment Management LLC raised its holdings in Northwest Bancshares by 1,238.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,459 shares of the savings and loans company’s stock worth $73,000 after purchasing an additional 5,051 shares during the period. Finally, CWM LLC raised its holdings in Northwest Bancshares by 45.5% in the 2nd quarter. CWM LLC now owns 7,195 shares of the savings and loans company’s stock worth $83,000 after purchasing an additional 2,249 shares during the period. Hedge funds and other institutional investors 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.