Northwest Bancshares Inc. (NASDAQ: NWBI) had its price target raised by equities researchers at Keefe, Bruyette & Woods from $14.00 to $15.00.Keefe, Bruyette & Woods currently has a rating of Market Perform on the stock. A number of other analysts have issued reports on the stock in recent days, and the company has earned a consensus one-year price target of $15.00, lower than the opening price of $15.46, a difference of 9.70 percent. Northwest Bancshares Inc. stock has a 52-week high of $15.69.
U.S. stocks finished sharply lower on Tuesday as equities amid a slump in energy shares and continued uncertainty about the Federal Reserve’s plans for monetary policy.
The Dow Jones Industrial Average DJIA, -1.41% closed 258.05 points, or 1.4%, lower at 18,066.89, and was down nearly 300 points at its lowest.
The S&P 500 index SPX, -1.48% gave up 32.02 points, or 1.5%, at 2,127.02.
Meanwhile, the Nasdaq Composite Index COMP, -1.09% fell 56.63 points, or 1.1%, at 5,155.25.
Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.
Shares of Northwest Bancshares Inc. (NASDAQ: NWBI) opened at $15.46 yesterday and traded in a range between, $15.37 and $15.54, and last traded at $15.47, which represents a change of $ -0.03 over the previous closing price.
Northwest Bancshares Inc. (NASDAQ: NWBI) currently has a market cap of 1.59B
The stocks average daily volume is 449,236 shares out of a total float 94,456,000 and some 635,097 shares traded hands yesterday, 8 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re considering.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind Northwest Bancshares Inc. (NASDAQ: NWBI) now has a 50-day MA is $15.21 and 200-day MA is $14.36, and it has traded in a 52-week range between $11.78 – 15.69 and today’s last price is -1.40 percent off the 52 week high of $15.69.
Indeed, earnings growth is among the most important things to look in regards to stock investing and, accordingly, investors seek companies who have been successful at growing their earnings by at least 25 percent over a 3 year period.
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