Northwest Bancshares Inc. (NWBI) Stake Increased by Wells Fargo & Company MN
Wells Fargo & Company MN raised its stake in Northwest Bancshares Inc. (NASDAQ:NWBI) by 8.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 854,651 shares of the company’s stock after buying an additional 65,221 shares during the period. Wells Fargo & Company MN owned about 0.84% of Northwest Bancshares worth $13,427,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of NWBI. Emerald Acquisition Ltd. acquired a new position in Northwest Bancshares during the second quarter valued at approximately $15,232,000. Citadel Advisors LLC boosted its position in Northwest Bancshares by 3,942.9% in the second quarter. Citadel Advisors LLC now owns 546,728 shares of the company’s stock worth $8,108,000 after buying an additional 533,205 shares during the last quarter. BlackRock Advisors LLC boosted its position in Northwest Bancshares by 101.9% in the second quarter. BlackRock Advisors LLC now owns 771,668 shares of the company’s stock worth $11,444,000 after buying an additional 389,523 shares during the last quarter. Credit Suisse AG boosted its position in Northwest Bancshares by 137.0% in the second quarter. Credit Suisse AG now owns 563,231 shares of the company’s stock worth $8,353,000 after buying an additional 325,614 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Northwest Bancshares by 3.9% in the second quarter. Vanguard Group Inc. now owns 7,933,196 shares of the company’s stock worth $117,650,000 after buying an additional 298,521 shares during the last quarter. Institutional investors and hedge funds own 67.59% of the company’s stock.
Shares of Northwest Bancshares Inc. (NASDAQ:NWBI) traded down 1.14% during midday trading on Monday, reaching $18.16. The company had a trading volume of 336,181 shares. Northwest Bancshares Inc. has a 52 week low of $11.77 and a 52 week high of $18.38. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 44.29 and a beta of 0.55. The stock has a 50-day moving average of $16.36 and a 200 day moving average of $15.31.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Thursday, November 3rd were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, November 1st. This represents a $0.60 dividend on an annualized basis and a yield of 3.27%. Northwest Bancshares’s dividend payout ratio is presently 146.35%.
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A number of research firms have recently issued reports on NWBI. Zacks Investment Research upgraded Northwest Bancshares from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Friday, October 28th. Keefe, Bruyette & Woods upped their price objective on Northwest Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Tuesday, September 13th. Finally, FBR & Co upped their price objective on Northwest Bancshares from $15.00 to $16.00 and gave the stock a “mkt perform” rating in a report on Wednesday, October 26th.
In other news, EVP Jonathan P. Scalise sold 8,720 shares of Northwest Bancshares stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $17.98, for a total value of $156,785.60. Following the sale, the executive vice president now directly owns 19,723 shares of the company’s stock, valued at $354,619.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William W. Harvey sold 9,286 shares of Northwest Bancshares stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $17.75, for a total value of $164,826.50. Following the completion of the sale, the chief financial officer now directly owns 143,158 shares in the company, valued at $2,541,054.50. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
Northwest Bancshares Company Profile
Northwest Bancshares, Inc (Northwest) is a savings and loan holding company. The Company’s principal business consists of attracting deposits and making loans secured by various types of collateral, including real estate and other assets in the markets in which it operates. Its subsidiary, Northwest Bank, is a Pennsylvania-chartered stock savings bank.
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