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

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

Separately, Keefe, Bruyette & Woods boosted their price objective on Northwest Bancshares from $12.00 to $13.00 and gave the stock a market perform rating in a research note on Tuesday, January 23rd.

Northwest Bancshares Stock Down 0.5 %

Shares of NWBI stock opened at $11.00 on Tuesday. The stock has a 50 day moving average of $11.30 and a 200 day moving average of $11.50. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41. 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 has a twelve month low of $9.80 and a twelve month high of $13.07.

Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings data 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 return on equity of 9.21% and a net margin of 19.23%. The company had revenue of $188.20 million for the quarter, compared to analyst estimates of $132.80 million. As a group, sell-side analysts expect that Northwest Bancshares will post 0.95 EPS for the current year.

Northwest Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.27%. Northwest Bancshares’s dividend payout ratio is currently 75.47%.

Institutional Trading of Northwest Bancshares

Large investors have recently made changes to their positions in the company. CWM LLC boosted its position in shares of Northwest Bancshares by 164.6% in the 4th quarter. CWM LLC now owns 4,918 shares of the savings and loans company’s stock valued at $61,000 after purchasing an additional 3,059 shares during the period. International Assets Investment Management LLC increased its stake in Northwest Bancshares by 1,148.0% in the 4th quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loans company’s stock valued at $64,000 after purchasing an additional 4,684 shares in the last quarter. IVC Wealth Advisors LLC purchased a new position in Northwest Bancshares in the 1st quarter valued at approximately $124,000. Kestra Private Wealth Services LLC acquired a new stake in Northwest Bancshares during the 3rd quarter valued at $125,000. Finally, First Merchants Corp acquired a new stake in Northwest Bancshares during the 4th quarter valued at $126,000. 66.32% of the stock is owned by institutional investors and hedge funds.

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.