The stock of Northwest Bancshares, Inc. (NASDAQ:NWBI) reached all time high today, Oct, 10 and still has $25.85 target or 64.00% above today’s $15.76 share price. This indicates more upside for the $1.61B company. This technical setup was reported by Barchart.com. If the $25.85 PT is reached, the company will be worth $1.03 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 90,148 shares traded hands. Northwest Bancshares, Inc. (NASDAQ:NWBI) has risen 18.23% since March 7, 2016 and is uptrending. It has outperformed by 10.64% the S&P500.
Analysts await Northwest Bancshares, Inc. (NASDAQ:NWBI) to report earnings on October, 24. They expect $0.24 EPS, up 26.32% or $0.05 from last year’s $0.19 per share. NWBI’s profit will be $24.52M for 16.42 P/E if the $0.24 EPS becomes a reality. After $0.20 actual EPS reported by Northwest Bancshares, Inc. for the previous quarter, Wall Street now forecasts 20.00% EPS growth.
Northwest Bancshares, Inc. (NASDAQ:NWBI) Ratings Coverage
Out of 4 analysts covering Northwest Bancshares (NASDAQ:NWBI), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Northwest Bancshares has been the topic of 4 analyst reports since September 22, 2015 according to StockzIntelligence Inc. The rating was downgraded by Zacks on Tuesday, September 22 to “Hold”. The stock has “Outperform” rating given by RBC Capital Markets on Monday, May 2. The firm has “Market Perform” rating by FBR Capital given on Thursday, June 2. The stock of Northwest Bancshares, Inc. (NASDAQ:NWBI) earned “Market Perform” rating by Wood on Tuesday, September 13.
According to Zacks Investment Research, “Northwest Bancorp, Inc. is a bank holding company whose sole activity is the ownership of all of the issued and outstanding common stock of Northwest Savings Bank and the majority ownership of Jamestown Savings Bank. Northwest Savings Bank is a stock savings bank. The bank is a community-oriented institution offering traditional deposit and loan products, and through its subsidiaries, consumer finance services.”
Insitutional Activity: The institutional sentiment decreased to 1.05 in 2016 Q2. Its down 0.48, from 1.53 in 2016Q1. The ratio turned negative, as 12 funds sold all Northwest Bancshares, Inc. shares owned while 50 reduced positions. 11 funds bought stakes while 54 increased positions. They now own 65.10 million shares or 1.22% less from 65.90 million shares in 2016Q1.
Teachers Advsr Inc has 0% invested in the company for 144,320 shares. Price T Rowe Assocs Md holds 0% or 53,379 shares in its portfolio. Advisors Asset Mngmt Inc has 0.02% invested in the company for 89,410 shares. Moreover, Dimensional Fund Advsr Lp has 0.07% invested in Northwest Bancshares, Inc. (NASDAQ:NWBI) for 8.63 million shares. Blackrock Advisors Limited Company accumulated 0.01% or 771,668 shares. Amalgamated State Bank has invested 0.01% of its portfolio in Northwest Bancshares, Inc. (NASDAQ:NWBI). Rhumbline Advisers has 183,774 shares for 0.01% of their US portfolio. Comerica National Bank & Trust has invested 0.03% of its portfolio in Northwest Bancshares, Inc. (NASDAQ:NWBI). Kennedy Capital Inc last reported 0.09% of its portfolio in the stock. Federated Invsts Pa has invested 0% of its portfolio in Northwest Bancshares, Inc. (NASDAQ:NWBI). Blackrock Gp Limited reported 224,330 shares or 0% of all its holdings. Us Bank De has 2,776 shares for 0% of their US portfolio. Parametric Port Associate Ltd Limited Liability Company has 312,426 shares for 0.01% of their US portfolio. D E Shaw & holds 0% of its portfolio in Northwest Bancshares, Inc. (NASDAQ:NWBI) for 114,016 shares. Emerald Advisers Incorporated Pa owns 198,567 shares or 0.14% of their US portfolio.
Insider Transactions: Since May 3, 2016, the stock had 1 insider purchase, and 10 selling transactions for $1.72 million net activity. $144,144 worth of shares were sold by Tredway Philip M on Tuesday, May 3. SMELKO MICHAEL G also sold $151,643 worth of Northwest Bancshares, Inc. (NASDAQ:NWBI) shares. Scalise Jonathan P sold $63,377 worth of Northwest Bancshares, Inc. (NASDAQ:NWBI) on Tuesday, May 24. Another trade for 10,125 shares valued at $149,226 was made by Ritzert Gerald J on Thursday, May 26. Young Andrew sold $121,040 worth of stock or 8,425 shares. Shares for $11,440 were bought by McKnight William F. Shares for $293,042 were sold by WESTERBURG DAVID E.
More important recent Northwest Bancshares, Inc. (NASDAQ:NWBI) news were published by: Prnewswire.com which released: “Northwest Bancshares, Inc. Completes Merger with LNB Bancorp, Inc.” on August 14, 2015, also Prnewswire.com published article titled: “Northwest Bancshares, Inc. to Acquire $1.7 Billion in Deposits and 18 First …”, Prnewswire.com published: “Northwest Bancshares, Inc. Selects Robert Campana To Serve As Director …” on July 16, 2015. More interesting news about Northwest Bancshares, Inc. (NASDAQ:NWBI) was released by: Crainscleveland.com and their article: “Lorain National Bank president Daniel Klimas to leave after Northwest …” with publication date: July 14, 2015.
NWBI Company Profile
Northwest Bancshares, Inc. (Northwest), incorporated on September 8, 2009, is a savings and loan holding company. The Company’s principal business consists of attracting deposits and making loans secured by various types of collateral, including real estate and other assets in the markets in which it operates. The Company’s subsidiary, Northwest Bank, is a Pennsylvania-chartered stock savings bank. Northwest Bank is a community-oriented financial institution, offering personal and business banking solutions, investment management and trust services and insurance products. Through a subsidiary, Northwest Consumer Discount Company, it also offers consumer finance loans.
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