FBR Capital Starts Northwest Bancshares, Inc. (NWBI) at Market Perform
Get Alerts NWBI Hot Sheet
Rating Summary:
0 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Join SI Premium – FREE
FBR Capital initiates coverage on Northwest Bancshares, Inc. (NASDAQ: NWBI) with a Market Perform rating and a price target of $14.00.
Analyst Bob Ramsey commented, "We initiate coverage of Northwest Bancshares, Inc. (NWBI) with a Market Perform rating and a 12-month price target of $14 per share, equal to 14x our 2017 EPS estimate. Northwest Bancshares is a thrift based in Warren, Pennsylvania, with a significant presence in the Buffalo and Pittsburgh markets. Largely a reflection of its footprint, loan growth has lagged national averages. The company has compensated with acquisitions, most recently LNB Bancorp in 3Q15 and 18 First Niagara branches expected in 3Q16. Northwest Bancshares has $9.7 billion in pro forma assets and plans on staying under the $10 billion threshold until at least 2018. We initiate 2016 and 2017 operating EPS estimates of $0.87 and $1.00, respectively."
For an analyst ratings summary and ratings history on Northwest Bancshares, Inc. click here. For more ratings news on Northwest Bancshares, Inc. click here.
Shares of Northwest Bancshares, Inc. closed at $14.81 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Northwest Bancshares, Inc. (NWBI) PT Lowered to $10 at Piper Sandler
- Boston Scientific (BSX) PT Raised to $80 at BTIG
- Mr. Cooper Group Inc. (COOP) PT Raised to $87 at Jefferies
Create E-mail Alert Related Categories
Analyst Comments, New CoverageSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!