Northwest Bancshares (NASDAQ:NWBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “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. “

NWBI has been the topic of several other research reports. BidaskClub downgraded shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a report on Monday, June 24th. Boenning Scattergood reissued an “outperform” rating and issued a $47.75 target price on shares of WSFS Financial in a report on Thursday, June 20th.

Shares of NASDAQ:NWBI opened at $17.15 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.02 and a quick ratio of 1.00. Northwest Bancshares has a 1-year low of $15.50 and a 1-year high of $18.81. The stock has a market capitalization of $1.78 billion, a P/E ratio of 16.65, a P/E/G ratio of 2.27 and a beta of 0.68. The firm’s 50 day moving average price is $17.28.

Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings results on Monday, July 22nd. The savings and loans company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.03). Northwest Bancshares had a net margin of 21.50% and a return on equity of 8.31%. The firm had revenue of $115.97 million for the quarter, compared to analysts’ expectations of $117.86 million. As a group, research analysts expect that Northwest Bancshares will post 1.08 EPS for the current year.

In related news, Director Timothy M. Hunter bought 4,000 shares of the stock in a transaction dated Friday, May 17th. The shares were purchased at an average price of $17.15 per share, with a total value of $68,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in shares of Northwest Bancshares by 3.0% in the second quarter. Arizona State Retirement System now owns 164,770 shares of the savings and loans company’s stock worth $2,902,000 after buying an additional 4,816 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Northwest Bancshares by 3.4% in the second quarter. State of Alaska Department of Revenue now owns 50,434 shares of the savings and loans company’s stock worth $887,000 after buying an additional 1,660 shares in the last quarter. Bessemer Group Inc. raised its stake in Northwest Bancshares by 0.9% during the second quarter. Bessemer Group Inc. now owns 217,900 shares of the savings and loans company’s stock valued at $3,837,000 after purchasing an additional 1,900 shares in the last quarter. NEXT Financial Group Inc raised its stake in Northwest Bancshares by 6,628.0% during the second quarter. NEXT Financial Group Inc now owns 6,728 shares of the savings and loans company’s stock valued at $118,000 after purchasing an additional 6,628 shares in the last quarter. Finally, CWM Advisors LLC purchased a new stake in Northwest Bancshares during the second quarter valued at $176,000. 72.07% of the stock is currently owned by hedge funds and other institutional investors.

Northwest Bancshares Company Profile

Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.

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