TIAA CREF Investment Management LLC Grows Position in Northwest Bancshares, Inc. (NWBI)

TIAA CREF Investment Management LLC lifted its stake in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 18.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 307,037 shares of the savings and loans company’s stock after buying an additional 48,869 shares during the period. TIAA CREF Investment Management LLC owned about 0.30% of Northwest Bancshares worth $4,793,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NWBI. UBS Asset Management Americas Inc. lifted its stake in shares of Northwest Bancshares by 60.0% in the first quarter. UBS Asset Management Americas Inc. now owns 63,589 shares of the savings and loans company’s stock valued at $1,071,000 after buying an additional 23,837 shares during the period. Karp Capital Management Corp bought a new stake in shares of Northwest Bancshares in the first quarter valued at about $411,000. Ameritas Investment Partners Inc. bought a new stake in shares of Northwest Bancshares in the first quarter valued at about $140,000. Prudential Financial Inc. lifted its stake in shares of Northwest Bancshares by 1.0% in the first quarter. Prudential Financial Inc. now owns 174,288 shares of the savings and loans company’s stock valued at $2,935,000 after buying an additional 1,680 shares during the period. Finally, 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 valued at $893,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 65.35% of the company’s stock.

Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at 17.55 on Thursday. The company has a market cap of $1.80 billion, a PE ratio of 20.45 and a beta of 0.65. The firm’s 50-day moving average is $16.66 and its 200-day moving average is $16.06. Northwest Bancshares, Inc. has a 52 week low of $14.95 and a 52 week high of $19.10.

Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Monday, July 24th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $124.21 million for the quarter, compared to analyst estimates of $116.82 million. On average, analysts expect that Northwest Bancshares, Inc. will post $0.93 EPS for the current fiscal year.

A number of research analysts have commented on the stock. BidaskClub cut shares of Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Zacks Investment Research cut shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $16.00 price target on shares of Northwest Bancshares in a research note on Sunday, October 8th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.50.

In other news, EVP Andrew Young sold 5,625 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $16.18, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Philip M. Tredway sold 13,560 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was 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. Corporate insiders own 2.00% of the company’s stock.

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Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NWBI. UBS Asset Management Americas Inc. lifted its stake in shares of Northwest Bancshares by 60.0% in the first quarter. UBS Asset Management Americas Inc. now owns 63,589 shares of the savings and loans company’s stock valued at $1,071,000 after buying an additional 23,837 shares during the period. Karp Capital Management Corp bought a new stake in shares of Northwest Bancshares in the first quarter valued at about $411,000. Ameritas Investment Partners Inc. bought a new stake in shares of Northwest Bancshares in the first quarter valued at about $140,000. Prudential Financial Inc. lifted its stake in shares of Northwest Bancshares by 1.0% in the first quarter. Prudential Financial Inc. now owns 174,288 shares of the savings and loans company’s stock valued at $2,935,000 after buying an additional 1,680 shares during the period. Finally, 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 valued at $893,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 65.35% of the company’s stock.

Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at 17.55 on Thursday. The company has a market cap of $1.80 billion, a PE ratio of 20.45 and a beta of 0.65. The firm’s 50-day moving average is $16.66 and its 200-day moving average is $16.06. Northwest Bancshares, Inc. has a 52 week low of $14.95 and a 52 week high of $19.10.

Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Monday, July 24th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $124.21 million for the quarter, compared to analyst estimates of $116.82 million. On average, analysts expect that Northwest Bancshares, Inc. will post $0.93 EPS for the current fiscal year.

A number of research analysts have commented on the stock. BidaskClub cut shares of Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Zacks Investment Research cut shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $16.00 price target on shares of Northwest Bancshares in a research note on Sunday, October 8th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.50.

In other news, EVP Andrew Young sold 5,625 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $16.18, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Philip M. Tredway sold 13,560 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was 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. Corporate insiders own 2.00% of the company’s stock.

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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.

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

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