Northwest Bancshares (NASDAQ:NWBI) Given New $10.00 Price Target at Piper Sandler

Northwest Bancshares (NASDAQ:NWBI) had its price objective cut by Piper Sandler from $11.00 to $10.00 in a report issued on Tuesday, Benzinga reports. They currently have an underweight rating on the savings and loans company’s stock.

Separately, Keefe, Bruyette & Woods boosted their price target 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.

Northwest Bancshares Trading Down 0.5 %

Northwest Bancshares stock opened at $11.00 on Tuesday. The company’s fifty day simple moving average is $11.30 and its 200-day simple moving average is $11.50. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.41. Northwest Bancshares has a 12 month low of $9.80 and a 12 month high of $13.07. The stock has a market cap of $1.40 billion, a P/E ratio of 10.38 and a beta of 0.60.

Northwest Bancshares (NASDAQ:NWBI) last posted 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. Northwest Bancshares had a net margin of 19.23% and a return on equity of 9.21%. The business had revenue of $188.20 million for the quarter, compared to analysts’ expectations of $132.80 million. As a group, sell-side analysts forecast that Northwest Bancshares will post 0.95 EPS for the current fiscal year.

Northwest Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors 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 yield of 7.27%. The ex-dividend date of this dividend is Wednesday, May 1st. Northwest Bancshares’s dividend payout ratio is presently 75.47%.

Institutional Investors Weigh In On Northwest Bancshares

A number of large investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. boosted its holdings in 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 worth $187,000 after purchasing an additional 989 shares in the last quarter. HBK Sorce Advisory LLC boosted its holdings in 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 worth $184,000 after purchasing an additional 1,042 shares in the last quarter. Van Hulzen Asset Management LLC boosted its holdings in 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 purchasing an additional 1,200 shares in the last quarter. Northwest Bancshares Inc. lifted its position in Northwest Bancshares by 0.4% during the 3rd quarter. Northwest Bancshares Inc. now owns 338,068 shares of the savings and loans company’s stock worth $3,458,000 after acquiring an additional 1,211 shares during the last quarter. Finally, Courier Capital LLC lifted its position in Northwest Bancshares by 10.2% during the 1st quarter. Courier Capital LLC now owns 13,576 shares of the savings and loans company’s stock worth $158,000 after acquiring an additional 1,253 shares during the last quarter. 66.32% of the stock is currently owned by institutional investors.

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.