Algert Global LLC Buys Shares of 11,850 Northwest Bancshares, Inc. (NWBI)
Algert Global LLC bought a new stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,850 shares of the savings and loans company’s stock, valued at approximately $205,000.
A number of other large investors have also made changes to their positions in NWBI. Renaissance Technologies LLC increased its position in Northwest Bancshares by 27.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,644,554 shares of the savings and loans company’s stock valued at $41,281,000 after buying an additional 576,154 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Northwest Bancshares by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,574,522 shares of the savings and loans company’s stock valued at $133,848,000 after buying an additional 367,413 shares in the last quarter. Koch Industries Inc. acquired a new position in Northwest Bancshares during the 2nd quarter valued at about $237,000. Citadel Advisors LLC increased its position in Northwest Bancshares by 232.1% during the 2nd quarter. Citadel Advisors LLC now owns 301,147 shares of the savings and loans company’s stock valued at $4,701,000 after buying an additional 210,455 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Northwest Bancshares during the 3rd quarter valued at about $3,044,000. 64.51% of the stock is currently owned by institutional investors.
In other news, EVP Gerald J. Ritzert sold 9,592 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $16.57, for a total value of $158,939.44. Following the sale, the executive vice president now owns 50,657 shares in the company, valued at $839,386.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William W. Harvey sold 10,000 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $17.28, for a total value of $172,800.00. Following the completion of the sale, the chief financial officer now owns 158,649 shares in the company, valued at approximately $2,741,454.72. The disclosure for this sale can be found here. Insiders sold 25,639 shares of company stock worth $435,808 over the last three months. Corporate insiders own 2.00% of the company’s stock.
Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Monday, October 23rd. The savings and loans company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $107.83 million for the quarter, compared to analyst estimates of $106.63 million. Northwest Bancshares had a return on equity of 7.88% and a net margin of 21.88%. sell-side analysts anticipate that Northwest Bancshares, Inc. will post 0.85 EPS for the current fiscal year.
NWBI has been the topic of a number of research reports. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $16.00 price objective on shares of Northwest Bancshares in a report on Sunday, October 8th. Zacks Investment Research lowered Northwest Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, October 26th. Boenning Scattergood reissued a “hold” rating on shares of Northwest Bancshares in a report on Tuesday, October 24th. Finally, BidaskClub lowered Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Northwest Bancshares currently has a consensus rating of “Hold” and an average price target of $16.67.
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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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