Northwest Bancshares price target lowered to $10 from $11 at Piper Sandler

Piper Sandler analyst Frank Schiraldi lowered the firm’s price target on Northwest Bancshares to $10 from $11 and keeps an Underweight rating on the shares following quarterly results. Following trends in the quarter and management commentary, particularly around net interest margin, the firm’s modeling suggests some near-term pressure to its earnings expectations, however that is largely offset by anticipated pick-up in run rate from a planned securities sale announced with results.