Wells Fargo & Company MN cut its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 16.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 468,617 shares of the savings and loans company’s stock after selling 93,143 shares during the quarter. Wells Fargo & Company MN owned about 0.46% of Northwest Bancshares worth $8,093,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Northwest Bancshares by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,574,522 shares of the savings and loans company’s stock valued at $133,848,000 after acquiring an additional 367,413 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Northwest Bancshares by 27.9% during the second quarter. Renaissance Technologies LLC now owns 2,644,554 shares of the savings and loans company’s stock valued at $41,281,000 after acquiring an additional 576,154 shares in the last quarter. State Street Corp boosted its position in shares of Northwest Bancshares by 3.8% during the second quarter. State Street Corp now owns 2,516,857 shares of the savings and loans company’s stock valued at $39,287,000 after buying an additional 93,063 shares during the last quarter. Northern Trust Corp boosted its position in shares of Northwest Bancshares by 3.3% during the second quarter. Northern Trust Corp now owns 2,449,958 shares of the savings and loans company’s stock valued at $38,243,000 after buying an additional 78,768 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Northwest Bancshares by 7.1% during the third quarter. First Trust Advisors LP now owns 1,636,501 shares of the savings and loans company’s stock valued at $28,262,000 after buying an additional 108,610 shares during the last quarter. Hedge funds and other institutional investors own 64.51% of the company’s stock.
Northwest Bancshares, Inc. (NASDAQ NWBI) opened at $16.97 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.99 and a quick ratio of 0.99. Northwest Bancshares, Inc. has a 12 month low of $14.95 and a 12 month high of $18.63. The company has a market capitalization of $1,736.34, a PE ratio of 18.05, a PEG ratio of 1.66 and a beta of 0.63.
Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings data on Monday, October 23rd. The savings and loans company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $107.83 million for the quarter, compared to the consensus estimate of $106.63 million. Northwest Bancshares had a return on equity of 7.54% and a net margin of 20.59%. research analysts expect that Northwest Bancshares, Inc. will post 0.83 EPS for the current fiscal year.
In other news, COO Ronald J. Seiffert acquired 6,300 shares of Northwest Bancshares stock in a transaction on Tuesday, November 21st. The shares were acquired at an average price of $16.30 per share, with a total value of $102,690.00. Following the purchase, the chief operating officer now directly owns 6,300 shares in the company, valued at approximately $102,690. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jonathan P. Scalise sold 6,047 shares of Northwest Bancshares stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $17.21, for a total value of $104,068.87. Following the completion of the sale, the executive vice president now directly owns 18,402 shares in the company, valued at approximately $316,698.42. The disclosure for this sale can be found here. Insiders have sold a total of 25,639 shares of company stock worth $435,808 in the last three months. 2.00% of the stock is owned by corporate insiders.
Several equities research analysts recently commented on the company. Zacks Investment Research raised Northwest Bancshares from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective on the stock in a research report on Wednesday, January 3rd. Boenning Scattergood reissued a “hold” rating on shares of Northwest Bancshares in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $16.00 target price on shares of Northwest Bancshares in a research report on Sunday, October 8th. Finally, BidaskClub cut Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $17.25.
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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 segments include Community Banking and Consumer Finance.
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