Northwest Bancshares (NASDAQ:NWBI) Cut to Sell at StockNews.com

Northwest Bancshares (NASDAQ:NWBI) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Northwest Bancshares Stock Performance

NASDAQ:NWBI opened at $14.43 on Wednesday. The company has a market capitalization of $1.84 billion, a PE ratio of 18.99 and a beta of 0.62. The company has a 50 day simple moving average of $13.54 and a two-hundred day simple moving average of $12.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 0.95. Northwest Bancshares has a fifty-two week low of $10.45 and a fifty-two week high of $15.35.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings results on Tuesday, October 29th. The savings and loans company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The firm had revenue of $199.21 million for the quarter, compared to analysts’ expectations of $140.80 million. Northwest Bancshares had a return on equity of 8.24% and a net margin of 13.19%. During the same period in the prior year, the business earned $0.31 EPS. Research analysts anticipate that Northwest Bancshares will post 1.02 earnings per share for the current year.

Hedge Funds Weigh In On Northwest Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its holdings in shares of Northwest Bancshares by 93.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,935 shares of the savings and loans company’s stock worth $34,000 after buying an additional 1,420 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Northwest Bancshares in the 2nd quarter worth $61,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Northwest Bancshares by 66.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,769 shares of the savings and loans company’s stock worth $67,000 after purchasing an additional 2,304 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Northwest Bancshares by 1,238.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,459 shares of the savings and loans company’s stock worth $73,000 after purchasing an additional 5,051 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Northwest Bancshares by 45.5% in the 2nd quarter. CWM LLC now owns 7,195 shares of the savings and loans company’s stock worth $83,000 after purchasing an additional 2,249 shares in 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.