Northwest Bancshares (NASDAQ:NWBI) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Northwest Bancshares (NASDAQ:NWBI) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

Northwest Bancshares Stock Performance

Shares of NWBI opened at $14.88 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.28. Northwest Bancshares has a 52-week low of $10.45 and a 52-week high of $15.35. The stock has a 50 day moving average price of $13.41 and a 200 day moving average price of $12.49. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 19.58 and a beta of 0.62.

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

Northwest Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be given a $0.20 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.80 annualized dividend and a yield of 5.38%. Northwest Bancshares’s dividend payout ratio (DPR) is 105.26%.

Institutional Investors Weigh In On Northwest Bancshares

Several hedge funds have recently modified their holdings of the stock. American Century Companies Inc. boosted its position in Northwest Bancshares by 148.3% during the second quarter. American Century Companies Inc. now owns 1,225,917 shares of the savings and loans company’s stock worth $14,159,000 after purchasing an additional 732,172 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Northwest Bancshares by 80.8% during the second quarter. Panagora Asset Management Inc. now owns 488,161 shares of the savings and loans company’s stock worth $5,638,000 after buying an additional 218,158 shares in the last quarter. Quest Partners LLC lifted its stake in shares of Northwest Bancshares by 17,247,500.0% during the third quarter. Quest Partners LLC now owns 172,476 shares of the savings and loans company’s stock valued at $2,308,000 after buying an additional 172,475 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Northwest Bancshares by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,835,672 shares of the savings and loans company’s stock worth $64,701,000 after acquiring an additional 164,025 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Northwest Bancshares by 710.9% in the 2nd quarter. AQR Capital Management LLC now owns 144,163 shares of the savings and loans company’s stock worth $1,665,000 after acquiring an additional 126,384 shares during the period. 66.32% of the stock is owned by institutional investors and hedge funds.

About Northwest Bancshares

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.