Bank of New York Mellon Corp lifted its stake in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 6.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,485,459 shares of the savings and loans company’s stock after acquiring an additional 91,871 shares during the period. Bank of New York Mellon Corp owned 1.45% of Northwest Bancshares worth $24,852,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its holdings in 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 valued at $114,000 after buying an additional 180 shares during the last quarter. Algert Global LLC acquired a new stake in Northwest Bancshares in the 3rd quarter valued at approximately $205,000. CIBC Asset Management Inc acquired a new stake in Northwest Bancshares in the 4th quarter valued at approximately $228,000. Crossmark Global Holdings Inc. acquired a new stake in Northwest Bancshares in the 3rd quarter valued at approximately $301,000. Finally, SG Americas Securities LLC grew its holdings in 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 buying an additional 10,024 shares during the last quarter. 67.75% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Philip M. Tredway sold 5,714 shares of Northwest Bancshares stock in a transaction that occurred 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 sale, the director now owns 21,888 shares of the company’s stock, valued at approximately $376,035.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gerald J. Ritzert sold 10,800 shares of Northwest Bancshares stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $16.57, for a total value of $178,956.00. Following the sale, the executive vice president now directly owns 45,857 shares in the company, valued at approximately $759,850.49. The disclosure for this sale can be found here. Insiders have sold a total of 38,371 shares of company stock worth $647,733 in the last three months. 2.20% of the stock is owned by insiders.
A number of analysts have issued reports on NWBI shares. Zacks Investment Research raised Northwest Bancshares from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a report on Wednesday, January 3rd. Boenning Scattergood reaffirmed a “hold” rating on shares of Northwest Bancshares in a report on Tuesday, January 23rd. BidaskClub lowered Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $17.00 target price on shares of Northwest Bancshares in a report on Tuesday, February 27th. Five research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of $17.33.
Shares of Northwest Bancshares stock opened at $17.17 on Monday. The stock has a market capitalization of $1,761.26, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 1.67 and a beta of 0.64. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.18. Northwest Bancshares, Inc. has a fifty-two week low of $14.95 and a fifty-two week high of $17.78.
Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Monday, January 22nd. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. Northwest Bancshares had a return on equity of 7.23% and a net margin of 20.11%. The firm had revenue of $107.15 million for the quarter, compared to analyst estimates of $108.15 million. equities research analysts forecast that Northwest Bancshares, Inc. will post 1.03 earnings per share for the current fiscal year.
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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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