Northwest Bancshares (NASDAQ:NWBI) Receives “Market Perform” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of Northwest Bancshares (NASDAQ:NWBI) in a research note published on Tuesday morning, 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 decreased their price target 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 Stock Performance

Shares of NWBI stock opened at $11.00 on Tuesday. Northwest Bancshares has a 12-month low of $9.80 and a 12-month high of $13.07. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 10.38 and a beta of 0.60. The business has a 50 day simple moving average of $11.30 and a 200 day simple moving average of $11.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.95.

Northwest Bancshares (NASDAQ:NWBI) 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, hitting analysts’ consensus estimates of $0.23. Northwest Bancshares had a return on equity of 9.21% and a net margin of 19.23%. The business had revenue of $188.20 million during the quarter, compared to analyst estimates of $132.80 million. On average, equities research analysts anticipate that Northwest Bancshares will post 0.95 EPS for the current year.

Northwest Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend 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

Several large investors have recently modified their holdings of the stock. IVC Wealth Advisors LLC bought a new stake in shares of Northwest Bancshares during the 1st quarter worth $124,000. Diversified Trust Co purchased a new stake in shares of Northwest Bancshares in the first quarter valued at $175,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Northwest Bancshares by 22.1% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 27,683 shares of the savings and loans company’s stock valued at $323,000 after purchasing an additional 5,012 shares in the last quarter. Courier Capital LLC lifted its holdings 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 valued at $158,000 after purchasing an additional 1,253 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Northwest Bancshares by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 14,959,190 shares of the savings and loans company’s stock worth $186,691,000 after acquiring an additional 54,526 shares in the last quarter. 66.32% of the stock is 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.