The stock of Northwest Bancshares, Inc. (NASDAQ:NWBI) hit a new 52-week high and has $27.70 target or 69.00% above today’s $16.39 share price. The 9 months bullish chart indicates low risk for the $1.66 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $27.70 price target is reached, the company will be worth $1.15 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 208,132 shares traded hands. Northwest Bancshares, Inc. (NASDAQ:NWBI) has risen 20.23% since April 7, 2016 and is uptrending. It has outperformed by 15.45% the S&P500.
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. As per Thursday, June 2, the company rating was initiated by FBR Capital. FBR Capital maintained Northwest Bancshares, Inc. (NASDAQ:NWBI) on Wednesday, October 26 with “Mkt Perform” rating. The rating was maintained by Wood with “Market Perform” on Tuesday, September 13. The stock of Northwest Bancshares, Inc. (NASDAQ:NWBI) earned “Outperform” rating by RBC Capital Markets on Monday, May 2. The rating was downgraded by Zacks to “Hold” on Tuesday, September 22.
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 2016 Q2. Its down 0.48, from 1.53 in 2016Q1. The ratio worsened, 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.
Tiaa Cref Ltd Limited Liability Company last reported 0% of its portfolio in the stock. The Massachusetts-based Grantham Mayo Van Otterloo Limited Liability Corp has invested 0.03% in Northwest Bancshares, Inc. (NASDAQ:NWBI). Carnegie Capital Asset Ltd Co has 0.05% invested in the company for 22,030 shares. Schwab Charles Management, a California-based fund reported 493,769 shares. Moreover, Utd Automobile Association has 0.04% invested in Northwest Bancshares, Inc. (NASDAQ:NWBI) for 779,890 shares. Guggenheim Ltd Liability Corporation holds 0% or 88,220 shares in its portfolio. Td Asset Mgmt Inc holds 0.01% or 195,700 shares in its portfolio. Credit Suisse Ag has 563,231 shares for 0.01% of their US portfolio. Interocean Limited Liability accumulated 17,375 shares or 0.06% of the stock. Barclays Pcl has invested 0% of its portfolio in Northwest Bancshares, Inc. (NASDAQ:NWBI). Pnc Svcs Group Inc Inc accumulated 210,901 shares or 0% of the stock. Qs Invsts Ltd Co owns 11,071 shares or 0% of their US portfolio. Ameriprise Fincl holds 628,983 shares or 0.01% of its portfolio. Principal Grp accumulated 729,606 shares or 0.02% of the stock. Blackrock Group Incorporated Ltd has 0% invested in the company for 224,330 shares.
Insider Transactions: Since May 11, 2016, the stock had 0 insider buys, and 8 selling transactions for $1.39 million net activity. $151,643 worth of shares were sold by SMELKO MICHAEL G on Monday, August 1. On Tuesday, May 24 the insider Scalise Jonathan P sold $63,377. Shares for $149,226 were sold by Ritzert Gerald J on Thursday, May 26. 800 shares were bought by McKnight William F, worth $11,440 on Friday, May 13. Another trade for 8,425 shares valued at $121,040 was made by Young Andrew on Tuesday, June 14. 2,500 shares with value of $36,900 were sold by McTavish Julia W on Friday, May 27. The insider WESTERBURG DAVID E sold $293,042.
More important 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 article titled: “Northwest Bancshares, Inc. Announces Third Quarter 2016 Earnings and Quarterly …”, Prnewswire.com published: “Northwest Bancshares, Inc. to Acquire $1.7 Billion in Deposits and 18 First …” on April 28, 2016. More interesting news about Northwest Bancshares, Inc. (NASDAQ:NWBI) was released by: Prnewswire.com and their article: “Northwest Bancshares, Inc. Selects Robert Campana To Serve As Director …” with publication date: July 16, 2015.
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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