BlackRock Inc. Grows Holdings in Northwest Bancshares (NASDAQ:NWBI)

BlackRock Inc. raised its stake in shares of Northwest Bancshares (NASDAQ:NWBI) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,113,000 shares of the savings and loans company’s stock after buying an additional 535,670 shares during the period. BlackRock Inc. owned about 12.77% of Northwest Bancshares worth $219,380,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in shares of Northwest Bancshares by 2.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,284 shares of the savings and loans company’s stock worth $114,000 after purchasing an additional 180 shares in the last quarter. Aperio Group LLC increased its stake in shares of Northwest Bancshares by 12.7% in the 3rd quarter. Aperio Group LLC now owns 42,358 shares of the savings and loans company’s stock worth $732,000 after purchasing an additional 4,777 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Northwest Bancshares in the 3rd quarter worth $301,000. Victory Capital Management Inc. purchased a new stake in shares of Northwest Bancshares in the 3rd quarter worth $1,150,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Northwest Bancshares by 49.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 56,818 shares of the savings and loans company’s stock worth $981,000 after purchasing an additional 18,894 shares in the last quarter. Institutional investors and hedge funds own 67.67% of the company’s stock.

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In related news, EVP Gerald J. Ritzert sold 10,800 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $16.57, for a total value of $178,956.00. Following the completion of the transaction, the executive vice president now owns 45,857 shares of the company’s stock, valued at approximately $759,850.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Philip M. Tredway sold 5,714 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $17.18, for a total transaction of $98,166.52. Following the completion of the transaction, the director now directly owns 21,888 shares of the company’s stock, valued at approximately $376,035.84. The disclosure for this sale can be found here. Insiders sold a total of 38,371 shares of company stock valued at $647,733 in the last ninety days. 2.20% of the stock is currently owned by insiders.

Several research firms have recently commented on NWBI. BidaskClub upgraded Northwest Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, March 22nd. Boenning Scattergood restated a “hold” rating on shares of Northwest Bancshares in a research note on Tuesday, January 23rd. Zacks Investment Research lowered Northwest Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $17.00 price objective on shares of Northwest Bancshares in a research note on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Northwest Bancshares has a consensus rating of “Hold” and a consensus target price of $17.33.

Northwest Bancshares stock traded down $0.29 during mid-day trading on Friday, hitting $16.31. The stock had a trading volume of 332,910 shares, compared to its average volume of 543,536. The company has a market capitalization of $1,702.79, a P/E ratio of 19.42, a P/E/G ratio of 1.61 and a beta of 0.63. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.00 and a current ratio of 1.00. Northwest Bancshares has a one year low of $14.95 and a one year high of $17.78.

Northwest Bancshares (NASDAQ:NWBI) last issued its earnings results on Monday, January 22nd. The savings and loans company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The company had revenue of $107.15 million during the quarter, compared to the consensus estimate of $108.15 million. Northwest Bancshares had a net margin of 20.11% and a return on equity of 7.23%. analysts forecast that Northwest Bancshares will post 1.03 EPS for the current year.

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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.

Institutional Ownership by Quarter for Northwest Bancshares (NASDAQ:NWBI)

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