The stock of Northwest Bancshares, Inc. (NASDAQ:NWBI) reached all time high today, Nov, 30 and still has $19.55 target or 7.00% above today’s $18.27 share price. This indicates more upside for the $1.85B company. This technical setup was reported by Barchart.com. If the $19.55 PT is reached, the company will be worth $129.50M 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 73,059 shares traded hands. Northwest Bancshares, Inc. (NASDAQ:NWBI) has risen 33.09% since April 27, 2016 and is uptrending. It has outperformed by 27.86% 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 $25.31M for 18.27 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 has “Market Perform” rating by FBR Capital given on Thursday, June 2. The stock has “Market Perform” rating given by Wood on Tuesday, September 13. As per Monday, May 2, the company rating was maintained by RBC Capital Markets. Zacks downgraded the shares of NWBI in a report on Tuesday, September 22 to “Hold” rating. The firm has “Mkt Perform” rating by FBR Capital given on Wednesday, October 26.
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 Q2 2016. Its up 0.28, from 1.05 in 2016Q1. The ratio improved, 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.
Analytic Invsts holds 0.01% or 52,619 shares in its portfolio. Victory Capital Mngmt has 47,318 shares for 0% of their US portfolio. Sandy Spring Bank & Trust has 7,000 shares for 0.01% of their US portfolio. Morgan Stanley has 0% invested in the company for 162,176 shares. Louisiana State Employees Retirement System, a Louisiana-based fund reported 45,100 shares. Asset Mngmt accumulated 0.02% or 89,410 shares. Blackrock Institutional Co Na last reported 2.67 million shares in the company. Alliancebernstein Lp has 157,547 shares for 0% of their US portfolio. Aqr Mgmt Ltd Llc reported 52,291 shares or 0% of all its holdings. Texas Permanent School Fund holds 77,880 shares or 0.02% of its portfolio. Quantitative Systematic Strategies Limited Com has invested 0.08% of its portfolio in Northwest Bancshares, Inc. (NASDAQ:NWBI). Moreover, Legal General Gp Public Limited Liability Company has 0% invested in Northwest Bancshares, Inc. (NASDAQ:NWBI) for 31,975 shares. Community Natl Bank Na holds 0% of its portfolio in Northwest Bancshares, Inc. (NASDAQ:NWBI) for 1,125 shares. Vantage Invest Advisors Limited Com holds 6,119 shares or 0.04% of its portfolio. Manufacturers Life Insurance Company The accumulated 61,924 shares or 0% of the stock.
Insider Transactions: Since June 14, 2016, the stock had 0 buys, and 10 selling transactions for $2.40 million net activity. Another trade for 10,125 shares valued at $151,643 was made by SMELKO MICHAEL G on Monday, August 1. $121,040 worth of Northwest Bancshares, Inc. (NASDAQ:NWBI) was sold by Young Andrew. 8,720 shares with value of $156,812 were sold by Scalise Jonathan P on Monday, November 14. 19,096 shares were sold by FISHER STEVEN G, worth $320,836 on Thursday, November 10. 10,607 shares with value of $186,513 were sold by Ritzert Gerald J on Tuesday, November 15. 18,717 shares were sold by McTavish Julia W, worth $335,089. WESTERBURG DAVID E also sold $776,152 worth of Northwest Bancshares, Inc. (NASDAQ:NWBI) on Thursday, November 10.
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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