Wells Fargo & Company MN Decreases Stake in Northwest Bancshares, Inc. (NWBI)
Wells Fargo & Company MN reduced its holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 24.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 561,760 shares of the savings and loans company’s stock after selling 183,584 shares during the period. Wells Fargo & Company MN owned approximately 0.55% of Northwest Bancshares worth $8,769,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Marshall Wace North America L.P. purchased a new position in shares of Northwest Bancshares in the second quarter worth about $1,132,000. Arizona State Retirement System lifted its stake in shares of Northwest Bancshares by 1.7% in the first quarter. Arizona State Retirement System now owns 53,011 shares of the savings and loans company’s stock worth $893,000 after buying an additional 900 shares in the last quarter. Cipher Capital LP lifted its stake in shares of Northwest Bancshares by 26.2% in the second quarter. Cipher Capital LP now owns 140,602 shares of the savings and loans company’s stock worth $2,195,000 after buying an additional 29,170 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Northwest Bancshares by 3.4% in the first quarter. Ameriprise Financial Inc. now owns 654,160 shares of the savings and loans company’s stock worth $11,016,000 after buying an additional 21,210 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Northwest Bancshares by 3.5% in the first quarter. Geode Capital Management LLC now owns 1,228,615 shares of the savings and loans company’s stock worth $20,689,000 after buying an additional 41,397 shares in the last quarter. 65.39% of the stock is currently owned by hedge funds and other institutional investors.
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In other Northwest Bancshares news, EVP Andrew Young sold 5,625 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $16.18, for a total value of $91,012.50. Following the transaction, the executive vice president now directly owns 60,254 shares in the company, valued at approximately $974,909.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Philip M. Tredway sold 13,560 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $16.13, for a total transaction of $218,722.80. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
Shares of Northwest Bancshares, Inc. (NASDAQ NWBI) opened at 17.53 on Friday. The company’s 50-day moving average is $16.17 and its 200 day moving average is $16.02. The firm has a market capitalization of $1.80 billion, a PE ratio of 20.43 and a beta of 0.65. 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 earnings results on Monday, July 24th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. The company had revenue of $124.21 million for the quarter, compared to analyst estimates of $116.82 million. Northwest Bancshares had a net margin of 18.91% and a return on equity of 7.45%. Equities analysts expect that Northwest Bancshares, Inc. will post $0.93 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on NWBI shares. BidaskClub upgraded shares of Northwest Bancshares from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Zacks Investment Research cut shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company presently has a consensus rating of “Sell” and an average target price of $16.67.
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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