The stock of Northwest Bancshares, Inc. (NASDAQ:NWBI) hit a new 52-week high and has $26.69 target or 69.00% above today’s $15.79 share price. The 7 months bullish chart indicates low risk for the $1.63B company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $26.69 price target is reached, the company will be worth $1.12 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 373,742 shares traded hands. Northwest Bancshares, Inc. (NASDAQ:NWBI) has risen 18.00% since March 16, 2016 and is uptrending. It has outperformed by 12.46% the S&P500.
Analysts await Northwest Bancshares, Inc. (NASDAQ:NWBI) to report earnings on October, 24. They expect $0.24 earnings per share, up 26.32% or $0.05 from last year’s $0.19 per share. NWBI’s profit will be $24.78M for 16.45 P/E if the $0.24 EPS becomes a reality. After $0.20 actual earnings per share 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 maintained by Wood with “Market Perform” on Tuesday, September 13. The stock has “Hold” rating given by Zacks on Tuesday, September 22. The firm has “Market Perform” rating given on Thursday, June 2 by FBR Capital. The stock has “Outperform” rating given by RBC Capital Markets on Monday, May 2.
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 Q2 2016. Its down 0.48, from 1.53 in 2016Q1. The ratio fall, 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.
Brandywine Global Inv Limited Liability accumulated 412,892 shares or 0.04% of the stock. California Employees Retirement holds 390,550 shares or 0.01% of its portfolio. Los Angeles Cap Management Equity Research has invested 0% of its portfolio in Northwest Bancshares, Inc. (NASDAQ:NWBI). Moreover, Susquehanna Interest Group Limited Liability Partnership has 0% invested in Northwest Bancshares, Inc. (NASDAQ:NWBI) for 159,583 shares. D E Shaw And last reported 0% of its portfolio in the stock. Zacks Inv holds 0.06% or 124,493 shares in its portfolio. Hbk Sorce Advisory has 19,548 shares for 0.06% of their US portfolio. Concert Wealth owns 88,141 shares or 0.18% of their US portfolio. Moreover, Profund Ltd Liability has 0.02% invested in Northwest Bancshares, Inc. (NASDAQ:NWBI) for 32,964 shares. The New York-based Courier Cap Corp has invested 0.04% in Northwest Bancshares, Inc. (NASDAQ:NWBI). Analytic Investors Ltd Liability Com reported 52,619 shares or 0.01% of all its holdings. Teacher Retirement Sys Of Texas last reported 0.01% of its portfolio in the stock. Ancora Advsr Limited Com holds 80,271 shares or 0.14% of its portfolio. Lpl Fin Limited Co has invested 0% of its portfolio in Northwest Bancshares, Inc. (NASDAQ:NWBI). Creative Planning has invested 0% of its portfolio in Northwest Bancshares, Inc. (NASDAQ:NWBI).
Insider Transactions: Since May 3, 2016, the stock had 1 insider purchase, and 10 selling transactions for $1.72 million net activity. 4,313 shares were sold by Scalise Jonathan P, worth $63,377 on Tuesday, May 24. The insider Ritzert Gerald J sold $200,185. Young Andrew sold $121,040 worth of stock. The insider SMELKO MICHAEL G sold 10,125 shares worth $151,643. Another trade for 800 shares valued at $11,440 was bought by McKnight William F. FISHER STEVEN G had sold 25,874 shares worth $383,683 on Wednesday, May 25. 10,468 Northwest Bancshares, Inc. (NASDAQ:NWBI) shares with value of $144,144 were sold by Tredway Philip M.
More notable 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 with their article: “Northwest Bancshares, Inc. to Acquire $1.7 Billion in Deposits and 18 First …” published on April 28, 2016, 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) were released by: Crainscleveland.com and their article: “Lorain National Bank president Daniel Klimas to leave after Northwest …” published on July 14, 2015 as well as Forbes.com‘s news article titled: “Ex-Dividend Reminder: Cardinal Financial, Northwest Bancshares and Discover …” with publication date: July 29, 2016.
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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