State Street Corp Raises Stake in Northwest Bancshares, Inc. (NWBI)
State Street Corp raised its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 12.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,354,568 shares of the company’s stock after buying an additional 259,398 shares during the period. State Street Corp owned approximately 2.32% of Northwest Bancshares worth $42,451,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Vantage Investment Advisors LLC raised its stake in Northwest Bancshares by 30.6% in the third quarter. Vantage Investment Advisors LLC now owns 7,994 shares of the company’s stock worth $126,000 after buying an additional 1,875 shares during the period. Creative Planning raised its stake in Northwest Bancshares by 12.8% in the third quarter. Creative Planning now owns 8,449 shares of the company’s stock worth $133,000 after buying an additional 959 shares during the period. GW Henssler & Associates Ltd. raised its stake in Northwest Bancshares by 12.8% in the third quarter. GW Henssler & Associates Ltd. now owns 11,775 shares of the company’s stock worth $185,000 after buying an additional 1,335 shares during the period. SG Americas Securities LLC acquired a new stake in Northwest Bancshares during the third quarter worth about $224,000. Finally, Nisa Investment Advisors LLC raised its stake in Northwest Bancshares by 10.5% in the third quarter. Nisa Investment Advisors LLC now owns 14,750 shares of the company’s stock worth $232,000 after buying an additional 1,400 shares during the period. Institutional investors own 67.11% of the company’s stock.
Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at 17.46 on Tuesday. The stock has a market capitalization of $1.78 billion, a P/E ratio of 35.63 and a beta of 0.62. Northwest Bancshares, Inc. has a 52-week low of $13.09 and a 52-week high of $19.10. The company has a 50 day moving average of $17.61 and a 200-day moving average of $17.03.
Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings results on Monday, January 23rd. The company reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. Northwest Bancshares had a return on equity of 7.31% and a net margin of 11.46%. Equities research analysts anticipate that Northwest Bancshares, Inc. will post $0.93 EPS for the current year.
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A number of equities research analysts have recently weighed in on NWBI shares. Sandler O’Neill lowered shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Monday, December 19th. Zacks Investment Research downgraded shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, January 13th. Finally, DA Davidson initiated coverage on shares of Northwest Bancshares in a research report on Monday, March 6th. They issued a “neutral” rating and a $18.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.40.
In related news, CFO William W. Harvey sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $17.72, for a total transaction of $177,200.00. Following the completion of the transaction, the chief financial officer now directly owns 151,399 shares in the company, valued at $2,682,790.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Gerald J. Ritzert sold 42,936 shares of the business’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $17.64, for a total value of $757,391.04. Following the transaction, the executive vice president now owns 142,691 shares of the company’s stock, valued at $2,517,069.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,680 shares of company stock valued at $1,536,895. 2.50% of the stock is owned by company insiders.
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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