Northwest Bancshares (NASDAQ:NWBI) Cut to Sell at StockNews.com

Northwest Bancshares (NASDAQ:NWBI) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Northwest Bancshares Price Performance

Shares of NWBI opened at $14.43 on Wednesday. Northwest Bancshares has a 12-month low of $10.45 and a 12-month high of $15.35. The business’s fifty day moving average is $13.54 and its 200 day moving average is $12.63. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.28. The stock has a market cap of $1.84 billion, a P/E ratio of 18.99 and a beta of 0.62.

Northwest Bancshares (NASDAQ:NWBI) last released its quarterly 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. The business had revenue of $199.21 million during the quarter, compared to analyst estimates of $140.80 million. Northwest Bancshares had a return on equity of 8.24% and a net margin of 13.19%. During the same period in the prior year, the firm posted $0.31 EPS. Sell-side analysts anticipate that Northwest Bancshares will post 1.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Northwest Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in Northwest Bancshares by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,058,538 shares of the savings and loans company’s stock valued at $40,931,000 after buying an additional 34,827 shares during the last quarter. Barclays PLC increased its position in shares of Northwest Bancshares by 84.7% during the 3rd quarter. Barclays PLC now owns 265,647 shares of the savings and loans company’s stock valued at $3,554,000 after purchasing an additional 121,820 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Northwest Bancshares by 138.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 25,159 shares of the savings and loans company’s stock valued at $337,000 after purchasing an additional 14,594 shares during the last quarter. Jane Street Group LLC increased its position in shares of Northwest Bancshares by 154.0% during the 3rd quarter. Jane Street Group LLC now owns 265,431 shares of the savings and loans company’s stock valued at $3,551,000 after purchasing an additional 160,940 shares during the last quarter. Finally, State Street Corp increased its position in shares of Northwest Bancshares by 1.0% during the 3rd quarter. State Street Corp now owns 7,299,544 shares of the savings and loans company’s stock valued at $97,668,000 after purchasing an additional 70,287 shares during the last quarter. 66.32% of the stock is owned by hedge funds and other institutional investors.

Northwest Bancshares Company Profile

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.