Ameriprise Financial Inc. lifted its position in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 10.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 720,925 shares of the savings and loans company’s stock after buying an additional 66,765 shares during the period. Ameriprise Financial Inc. owned approximately 0.70% of Northwest Bancshares worth $11,253,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC increased its holdings in shares of Northwest Bancshares by 18.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 307,037 shares of the savings and loans company’s stock worth $4,793,000 after buying an additional 48,869 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Northwest Bancshares by 53.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 10,160 shares of the savings and loans company’s stock worth $159,000 after buying an additional 3,560 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Northwest Bancshares during the 2nd quarter worth $1,008,000. Cipher Capital LP increased its holdings in shares of Northwest Bancshares by 26.2% during the 2nd 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 during the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Northwest Bancshares during the 2nd quarter worth $1,132,000. Institutional investors and hedge funds own 65.39% of the company’s stock.
In related news, EVP Andrew Young sold 5,625 shares of Northwest Bancshares stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $16.18, for a total value of $91,012.50. Following the completion of the sale, the executive vice president now owns 60,254 shares of the company’s stock, valued at approximately $974,909.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Philip M. Tredway sold 13,560 shares of Northwest Bancshares stock in a transaction on 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 insiders.
A number of analysts have recently commented on NWBI shares. BidaskClub downgraded Northwest Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Zacks Investment Research upgraded Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $16.00 price objective on shares of Northwest Bancshares in a report on Sunday. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Northwest Bancshares currently has an average rating of “Hold” and a consensus price target of $16.50.
Shares of Northwest Bancshares, Inc. (NASDAQ NWBI) opened at 17.56 on Wednesday. The stock’s 50 day moving average price is $16.34 and its 200-day moving average price is $16.02. The firm has a market capitalization of $1.80 billion, a P/E ratio of 20.47 and a beta of 0.65. Northwest Bancshares, Inc. has a 12-month low of $14.95 and a 12-month 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 business had revenue of $124.21 million during the quarter, compared to analyst estimates of $116.82 million. On average, equities analysts expect that Northwest Bancshares, Inc. will post $0.93 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.
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