Stock of The Day: Time to Reconsider Northwest Bancshares, Inc. After Making 52-Week High?

Stock of The Day: Time to Reconsider Northwest Bancshares, Inc. After Making 52 Week High?

The stock of Northwest Bancshares, Inc. (NASDAQ:NWBI) hit a new 52-week high and has $19.52 target or 7.00% above today’s $18.24 share price. The 8 months bullish chart indicates low risk for the $1.83 billion company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $19.52 price target is reached, the company will be worth $128.10 million 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 301,983 shares traded hands. Northwest Bancshares, Inc. (NASDAQ:NWBI) has risen 31.31% since April 26, 2016 and is uptrending. It has outperformed by 26.05% the S&P500.

Analysts await Northwest Bancshares, Inc. (NASDAQ:NWBI) to report earnings on January, 23. They expect $0.25 earnings per share, up 56.25% or $0.09 from last year’s $0.16 per share. NWBI’s profit will be $25.08M for 18.24 P/E if the $0.25 EPS becomes a reality. After $0.22 actual earnings per share reported by Northwest Bancshares, Inc. for the previous quarter, Wall Street now forecasts 13.64% 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 5 analyst reports since September 22, 2015 according to StockzIntelligence Inc. The firm earned “Market Perform” rating on Tuesday, September 13 by Wood. The stock of Northwest Bancshares, Inc. (NASDAQ:NWBI) earned “Market Perform” rating by FBR Capital on Thursday, June 2. On Wednesday, October 26 the stock rating was maintained by FBR Capital with “Mkt Perform”. The stock has “Hold” rating given by Zacks on Tuesday, September 22. The firm has “Outperform” rating by RBC Capital Markets given 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 increased to 1.33 in 2016 Q2. Its up 0.28, from 1.05 in 2016Q1. The ratio increased, 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.
Pub Employees Retirement Association Of Colorado last reported 44,852 shares in the company. Barclays Public Limited Liability Company holds 0% or 80,969 shares in its portfolio. The Colorado-based Advsr Asset has invested 0.02% in Northwest Bancshares, Inc. (NASDAQ:NWBI). Qs Invsts Lc holds 0% or 11,071 shares in its portfolio. Metropolitan Life Communications New York last reported 71,179 shares in the company. Amalgamated Retail Bank has 11,493 shares for 0.01% of their US portfolio. Kennedy Capital accumulated 0.09% or 308,395 shares. Ladenburg Thalmann Fincl Service accumulated 0% or 5,448 shares. Brandywine Inv Mgmt Ltd Liability Corp holds 0.04% or 412,892 shares in its portfolio. Citigroup holds 0.01% or 390,804 shares in its portfolio. Bridgeway owns 365,953 shares or 0.08% of their US portfolio. Sei reported 16,493 shares or 0% of all its holdings. Manufacturers Life Company The holds 0% of its portfolio in Northwest Bancshares, Inc. (NASDAQ:NWBI) for 61,924 shares. Aperio Group Llc has 0% invested in the company for 21,098 shares. Ls Inv Advisors Limited Liability Corporation holds 3,484 shares or 0% of its portfolio.

Insider Transactions: Since June 14, 2016, the stock had 0 buys, and 10 sales for $2.40 million net activity. Scalise Jonathan P had sold 8,720 shares worth $156,812 on Monday, November 14. $121,040 worth of Northwest Bancshares, Inc. (NASDAQ:NWBI) was sold by Young Andrew on Tuesday, June 14. SMELKO MICHAEL G sold 10,125 shares worth $151,643. FISHER STEVEN G also sold $320,836 worth of Northwest Bancshares, Inc. (NASDAQ:NWBI) shares. Ritzert Gerald J also sold $186,513 worth of Northwest Bancshares, Inc. (NASDAQ:NWBI) on Tuesday, November 15. McTavish Julia W also sold $335,089 worth of Northwest Bancshares, Inc. (NASDAQ:NWBI) on Tuesday, November 15. Tredway Philip M sold 9,750 shares worth $173,609.

More 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 the news titled: “Northwest Bancshares, Inc. to Acquire $1.7 Billion in Deposits and 18 First …” on April 28, 2016. Prnewswire.com‘s news article titled: “Northwest Bancshares, Inc. Announces Third Quarter 2016 Earnings and Quarterly …” with publication date: October 24, 2016 was also an interesting one.

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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