Northwest Bancshares (NWBI, Financial) has successfully secured all necessary regulatory and shareholder approvals to proceed with its merger with Penns Woods Bancorp (PWOD). This merger will also include the integration of Penns Woods’ subsidiary banks, Jersey Shore State Bank and Luzerne Bank, into Northwest Bank, which is a Pennsylvania-chartered savings bank and a fully owned subsidiary of Northwest.
Key regulatory approvals have been granted by several authorities. The Federal Deposit Insurance Corporation has approved the merger of Jersey Shore State Bank and Luzerne Bank into Northwest Bank. Additionally, the Pennsylvania Department of Banking and Securities has sanctioned the merger of Penns Woods with Northwest, along with the merging of the subsidiary banks. Furthermore, the Federal Reserve Bank of Cleveland has issued Northwest a waiver for its merger application requirements.
The completion of this strategic merger is anticipated by late July, marking a significant expansion for Northwest Bank as the surviving institution.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 4 analysts, the average target price for Northwest Bancshares Inc (NWBI, Financial) is $13.38 with a high estimate of $15.00 and a low estimate of $12.00. The average target implies an upside of 15.80% from the current price of $11.55. More detailed estimate data can be found on the Northwest Bancshares Inc (NWBI) Forecast page.
Based on the consensus recommendation from 5 brokerage firms, Northwest Bancshares Inc's (NWBI, Financial) average brokerage recommendation is currently 3.2, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Northwest Bancshares Inc (NWBI, Financial) in one year is $13.05, suggesting a upside of 12.99% from the current price of $11.55. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Northwest Bancshares Inc (NWBI) Summary page.
