Two Sigma Advisers LP Cuts Stake in Northwest Bancshares (NWBI)

Two Sigma Advisers LP decreased its holdings in Northwest Bancshares (NASDAQ:NWBI) by 7.3% in the fourth quarter, HoldingsChannel reports. The firm owned 140,507 shares of the savings and loans company’s stock after selling 11,050 shares during the period. Two Sigma Advisers LP’s holdings in Northwest Bancshares were worth $2,351,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Algert Global LLC purchased a new stake in shares of Northwest Bancshares in the 3rd quarter valued at $205,000. CIBC Asset Management Inc purchased a new stake in shares of Northwest Bancshares in the 4th quarter valued at $228,000. SG Americas Securities LLC boosted its stake in shares of Northwest Bancshares by 117.5% in the 3rd quarter. SG Americas Securities LLC now owns 18,552 shares of the savings and loans company’s stock valued at $320,000 after purchasing an additional 10,024 shares in the last quarter. Koch Industries Inc. boosted its stake in shares of Northwest Bancshares by 58.3% in the 4th quarter. Koch Industries Inc. now owns 19,207 shares of the savings and loans company’s stock valued at $321,000 after purchasing an additional 7,074 shares in the last quarter. Finally, Guggenheim Capital LLC purchased a new stake in shares of Northwest Bancshares in the 4th quarter valued at $346,000. 67.67% of the stock is owned by institutional investors.

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NASDAQ:NWBI opened at $16.31 on Friday. Northwest Bancshares has a 52 week low of $14.95 and a 52 week high of $17.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $1,702.79, a P/E ratio of 19.42, a PEG ratio of 1.61 and a beta of 0.63.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings results on Monday, January 22nd. The savings and loans company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. Northwest Bancshares had a net margin of 20.11% and a return on equity of 7.23%. The company had revenue of $107.15 million during the quarter, compared to analyst estimates of $108.15 million. equities research analysts expect that Northwest Bancshares will post 1.03 EPS for the current fiscal year.

In related news, Director Philip M. Tredway sold 5,714 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $17.18, for a total transaction of $98,166.52. Following the completion of the sale, the director now directly owns 21,888 shares in the company, valued at approximately $376,035.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan P. Scalise sold 19,172 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $17.01, for a total transaction of $326,115.72. Following the sale, the executive vice president now owns 35,202 shares of the company’s stock, valued at $598,786.02. The disclosure for this sale can be found here. Insiders have sold a total of 38,371 shares of company stock valued at $647,733 over the last quarter. 2.20% of the stock is currently owned by company insiders.

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

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About Northwest Bancshares

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

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