Northwest Bancshares (NASDAQ:NWBI) upgraded to buy by Zacks Investment Research

Northwest Bancshares (NASDAQ:NWBI – Get a Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report released Tuesday, reports. The company currently has a price target of $15.00 on shares of the savings and loan company. Zacks Investment Research’s target price indicates upside potential of 8.46% from the stock’s previous close.

According to Zacks, “Northwest Bancorp, Inc. is a bank holding company whose sole business is the ownership of all of the issued and outstanding common stock of Northwest Savings Bank and the controlling interest of Jamestown Savings Bank. Northwest Savings Bank is a The bank is a community-oriented institution offering traditional deposit and loan products, and through its subsidiaries, consumer credit services.

Shares of NWBI opened at $13.83 on Tuesday. The company has a debt ratio of 0.25, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $1.75 billion, a PE ratio of 11.43 and a beta of 0.57. The company has a 50-day moving average of $14.01 and a two-hundred-day moving average of $13.91. Northwest Bancshares has a 1-year low of $12.37 and a 1-year high of $15.15.

(A d)

This guide will help you identify and execute an options trading strategy that fits your specific needs and risk profile.

Take your trading to the next level with the Options Strategy Guide.

Northwest Bancshares (NASDAQ:NWBI – Get Rating) last reported results on Monday, January 24. The savings and loan company reported earnings per share of $0.24 for the quarter, beating Thomson Reuters consensus estimate of $0.22 by $0.02. The company posted revenue of $123.70 million in the quarter, compared to analyst estimates of $127.93 million. Northwest Bancshares had a net margin of 27.49% and a return on equity of 9.86%. Sell-side analysts expect Northwest Bancshares to post EPS of 0.85 for the current fiscal year.

In a similar vein, Director Sonia M. Probst sold 6,022 shares of Northwest Bancshares in a trade that took place on Thursday, February 10. The shares were sold at an average price of $13.99, for a total value of $84,247.78. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. 1.00% of the shares are held by insiders.

A number of hedge funds have recently increased or reduced their holdings in NWBI. Amundi Pioneer Asset Management Inc. acquired a new stake in Northwest Bancshares during the first quarter worth approximately $146,000. Royal Bank of Canada increased its holdings in Northwest Bancshares by 11.5% in the second quarter. Royal Bank of Canada now owns 71,673 shares of the savings and loan company worth $978,000 after buying an additional 7,380 shares last quarter. Parametric Portfolio Associates LLC increased its holdings in Northwest Bancshares by 1.5% during the second quarter. Parametric Portfolio Associates LLC now owns 476,142 shares of the savings and loan company worth $6,495,000 after purchasing an additional 6,922 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Northwest Bancshares during the third quarter valued at approximately $1,299,000. Finally, Kestra Private Wealth Services LLC acquired a new equity position in Northwest Bancshares in Q3 worth $154,000. 60.52% of the shares are currently held by institutional investors.

Northwest Bancshares Company Profile (Get a rating)

Northwest Bancshares, Inc. operates as the holding company of Northwest Bank, a state-chartered savings bank that provides personal and business banking solutions. The company accepts a variety of deposits, including checks, savings, money market deposits, term certificates, and individual retirement accounts.

See also

Get a Free Copy of Zacks Research Report on Northwest Bancshares (NWBI)

For more information on Zacks Investment Research’s research offerings, visit

This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Northwest Bancshares right now?

Before you consider Northwest Bancshares, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes higher… and Northwest Bancshares was not on the list.

While Northwest Bancshares currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here