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Sterne Agee Still Sees Loan Growth As Challenge For Northwest Bancshares

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In a report published Tuesday, Sterne Agee analyst Matthew Breese reiterated a Neutral rating on Northwest Bancshares (NASDAQ: NWBI).

In the report, Sterne Agee noted, “NWBI reported 2Q14 EPS of $0.14, a penny below our estimates and down $0.02 from the year-ago period. Earnings this quarter were impacted by a large $8.3 million provision that, after conversations with management, appeared isolated. In our view, shares of NWBI are fairly valued at 138% of TBV given that forward profitability metrics are below that of peers. Looking ahead, we believe the company will seek out whole bank acquisitions in its core markets of western PA and upstate NY.”

Northwest Bancshares closed on Monday at $13.01.

Latest Ratings for NWBI

DateFirmActionFromTo
Mar 2017Initiates Coverage OnNeutral
Sep 2016MaintainsMarket Perform
Jun 2016Initiates Coverage onMarket Perform

View More Analyst Ratings for NWBI
View the Latest Analyst Ratings

Posted-In: Matthew Breese Sterne AgeeAnalyst Color Reiteration Analyst Ratings

 

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