BNP Paribas Arbitrage SA Grows Position in Northwest Bancshares, Inc. (NWBI)
BNP Paribas Arbitrage SA increased its stake in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 51.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,924 shares of the savings and loans company’s stock after buying an additional 12,927 shares during the period. BNP Paribas Arbitrage SA’s holdings in Northwest Bancshares were worth $592,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Glen Harbor Capital Management LLC raised its stake in Northwest Bancshares by 3.1% in the first quarter. Glen Harbor Capital Management LLC now owns 5,936 shares of the savings and loans company’s stock worth $100,000 after buying an additional 176 shares in the last quarter. Tyers Asset Management LLC raised its stake in Northwest Bancshares by 3.1% in the first quarter. Tyers Asset Management LLC now owns 8,162 shares of the savings and loans company’s stock worth $137,000 after buying an additional 242 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Northwest Bancshares in the first quarter worth about $140,000. SG Americas Securities LLC raised its stake in Northwest Bancshares by 32.9% in the second quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock worth $133,000 after buying an additional 2,112 shares in the last quarter. Finally, Flinton Capital Management LLC raised its stake in Northwest Bancshares by 3.1% in the first quarter. Flinton Capital Management LLC now owns 10,388 shares of the savings and loans company’s stock worth $175,000 after buying an additional 308 shares in the last quarter. 65.39% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on NWBI shares. Zacks Investment Research raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub downgraded shares of Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $16.60.
In other news, Director Philip M. Tredway sold 13,560 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $16.13, for a total value of $218,722.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.
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Northwest Bancshares, Inc. (NWBI) opened at 15.96 on Wednesday. The company has a market cap of $1.64 billion, a P/E ratio of 18.60 and a beta of 0.63. The firm’s 50 day moving average is $15.73 and its 200-day moving average is $16.13. Northwest Bancshares, Inc. has a 52 week low of $14.95 and a 52 week high of $19.10.
Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings data on Monday, July 24th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. Northwest Bancshares had a net margin of 18.91% and a return on equity of 7.45%. The company had revenue of $124.21 million during the quarter, compared to analysts’ expectations of $116.82 million. On average, analysts predict that Northwest Bancshares, Inc. will post $0.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $0.64 annualized dividend and a dividend yield of 4.01%. Northwest Bancshares’s dividend payout ratio is currently 75.29%.
Northwest Bancshares 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 segments include Community Banking and Consumer Finance.
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