Price Action Report: Could Northwest Bancshares, Inc. Lose its Strength? The Stock Reaches 52-Week High

Price Action Report: Could Northwest Bancshares, Inc. Lose its Strength? The Stock Reaches 52 Week High

The stock of Northwest Bancshares, Inc. (NASDAQ:NWBI) hit a new 52-week high and has $18.77 target or 3.00% above today’s $18.22 share price. The 8 months bullish chart indicates low risk for the $1.88 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $18.77 price target is reached, the company will be worth $56.40 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 186,873 shares traded hands. Northwest Bancshares, Inc. (NASDAQ:NWBI) has risen 34.32% since April 21, 2016 and is uptrending. It has outperformed by 28.99% 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 $25.80M for 18.22 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. Zacks downgraded the stock to “Hold” rating in Tuesday, September 22 report. As per Tuesday, September 13, the company rating was maintained by Wood. The firm has “Market Perform” rating by FBR Capital given on Thursday, June 2. FBR Capital maintained the shares of NWBI in a report on Wednesday, October 26 with “Mkt Perform” rating. The stock has “Outperform” rating given by RBC Capital Markets 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 is positive, 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.
Wells Fargo And Mn, a California-based fund reported 789,430 shares. State Of Tennessee Treasury Department has invested 0.01% of its portfolio in Northwest Bancshares, Inc. (NASDAQ:NWBI). Royal National Bank & Trust Of Canada has 19,500 shares for 0% of their US portfolio. Parametric Port Assocs Ltd holds 312,426 shares or 0.01% of its portfolio. Price T Rowe Assocs Md holds 53,379 shares or 0% of its portfolio. Invesco Limited holds 849,664 shares or 0% of its portfolio. Blackrock Ltd Liability Company has invested 0.01% of its portfolio in Northwest Bancshares, Inc. (NASDAQ:NWBI). Cipher Cap Limited Partnership, a New York-based fund reported 163,425 shares. Deprince Race Zollo has 1.82 million shares for 0.55% of their US portfolio. Community State Bank Na last reported 0% of its portfolio in the stock. State Board Of Administration Of Florida Retirement Systems, a Florida-based fund reported 91,564 shares. Lpl Fincl Ltd Llc holds 0% or 24,695 shares in its portfolio. Assetmark holds 0% of its portfolio in Northwest Bancshares, Inc. (NASDAQ:NWBI) for 3,139 shares. Comerica Financial Bank holds 0.03% or 240,423 shares in its portfolio. First Tru Advsrs Lp has invested 0.05% of its portfolio in Northwest Bancshares, Inc. (NASDAQ:NWBI).

Insider Transactions: Since May 24, 2016, the stock had 0 insider buys, and 9 insider sales for $2.39 million net activity. The insider McTavish Julia W sold 18,717 shares worth $335,089. The insider FISHER STEVEN G sold $320,836. $63,377 worth of Northwest Bancshares, Inc. (NASDAQ:NWBI) shares were sold by Scalise Jonathan P. 12,937 shares were sold by HARVEY WILLIAM W, worth $191,095. 10,607 shares with value of $186,513 were sold by Ritzert Gerald J on Tuesday, November 15. WESTERBURG DAVID E also sold $776,152 worth of Northwest Bancshares, Inc. (NASDAQ:NWBI) shares. The insider Young Andrew sold 8,425 shares worth $121,040.

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. Selects Robert Campana To Serve As Director …” with publication date: July 16, 2015 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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