Stocks of Northwest Bancshares Inc. (NASDAQ:NWBI) traded higher last session on Wall Street, up 2.36% to $11.26.
According to the data, Northwest Bancshares Inc. (NASDAQ:NWBI) has 6 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $13.00 and a low of $9.00, we find $12.00. Given the previous closing price of $11.00, this indicates a potential upside of 9.09 percent. NWBI stock price is now -0.90% away from the 50-day moving average and -9.99% away from the 200-day moving average. The market capitalization of the company currently stands at $1.40B.
A total of 5 analysts have issued a hold rating and 0 have given it a buy rating. Brokers who have rated the stock have averaged $11.40 as their price target over the next twelve months.
With the price target of $15, Janney recently initiated with Neutral rating for Northwest Bancshares Inc. (NASDAQ: NWBI).
In other news, Torchio Louis J, President & CEO bought 1,352 shares of the company’s stock on Aug 23. The stock was bought for $14,967 at an average price of $11.07. Upon completion of the transaction, the President & CEO now directly owns 57,298 shares in the company, valued at $0.65 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 27, SVP, Chief Auditor Barnum Carey A. sold 82 shares of the business’s stock. A total of $1,008 was realized by selling the stock at an average price of $12.29. This leaves the insider owning 2,519 shares of the company worth $28363.94. Insiders disposed of 38,407 shares of company stock worth roughly $0.43 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NWBI stock. A new stake in Northwest Bancshares Inc. shares was purchased by EA SERIES TRUST during the first quarter worth $3,616,000. EMPOWERED FUNDS, LLC invested $3,616,000 in shares of NWBI during the first quarter. In the first quarter, WEDGE CAPITAL MANAGEMENT L L P/NC acquired a new stake in Northwest Bancshares Inc. valued at approximately $1,350,000. FRANKLIN RESOURCES INC acquired a new stake in NWBI for approximately $1,180,000. Y-INTERCEPT (HONG KONG) LTD purchased a new stake in NWBI valued at around $725,000 in the second quarter.
Friday’s opening bell rang with an opening price of $11.02 for Northwest Bancshares Inc. (NASDAQ: NWBI). During the past 12 months, Northwest Bancshares Inc. has had a low of $9.91 and a high of $15.35. The fifty day moving average price for NWBI is $11.37 and a two-hundred day moving average price translates $12.49 for the stock.
The latest earnings results from Northwest Bancshares Inc. (NASDAQ: NWBI) was released for Jun, 2023. According to the Banks – Regional Company, earnings per share came in at $0.26, inline with analysts’ expectations of $0.26. This compares to $0.26 EPS in the same period last year. The net profit margin was 26.30% and return on equity was 9.20% for NWBI. The company reported revenue of $144.0 million for the quarter, compared to $105.9 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 35.98 percent. For the current quarter, analysts expect NWBI to generate $106.5M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/14/2023. Investors who held shares on 08/03/2023 were paid a $0.20 dividend. On an annualized basis, this represents a $0.80 dividend and a 7.10% percent yield. There was an ex-dividend date of 08/02/2023 for this dividend. In terms of dividend payout ratio, NWBI is presently at 73.20%.
Northwest Bancshares Inc.(NWBI) 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. It also offers loan products comprising one-to-four-family residential real estate loans, shorter term consumer loans, and loans collateralized by multi-family residential and commercial real estate; home equity loans and lines of credit; commercial business and real estate loans; commercial loans; and consumer loans, including automobile loans, sales finance loans, unsecured personal loans, credit card loans, and loans secured by deposit accounts. The company also offers investment management and trust services; and title insurance services. It operates community-banking locations throughout its market area in Pennsylvania, western New York, eastern Ohio, and Indiana. Northwest Bancshares, Inc. was founded in 1896 and is headquartered in Columbus, Ohio.
