Northwest Bancshares, Inc. (NWBI) Holdings Lifted by Northern Trust Corp
Northern Trust Corp grew its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,449,958 shares of the savings and loans company’s stock after buying an additional 78,768 shares during the quarter. Northern Trust Corp owned approximately 2.39% of Northwest Bancshares worth $38,243,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in NWBI. SG Americas Securities LLC boosted its holdings in shares of Northwest Bancshares by 32.9% in the second quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock worth $133,000 after buying an additional 2,112 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Northwest Bancshares in the first quarter worth about $140,000. Riverhead Capital Management LLC boosted its holdings in shares of Northwest Bancshares by 53.9% in the second 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 period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Northwest Bancshares in the first quarter worth about $185,000. Finally, Huntington National Bank boosted its holdings in shares of Northwest Bancshares by 76.8% in the second quarter. Huntington National Bank now owns 15,470 shares of the savings and loans company’s stock worth $242,000 after buying an additional 6,720 shares during the period. Institutional investors own 65.39% of the company’s stock.
In other news, EVP Andrew Young sold 5,625 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was 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 directly owns 60,254 shares of the company’s stock, valued at approximately $974,909.72. The sale was disclosed in a document filed 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 dated Wednesday, July 26th. The shares were sold at an average price of $16.13, for a total value 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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Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings results on Monday, July 24th. The savings and loans company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $124.21 million during the quarter, compared to analysts’ expectations of $116.82 million. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%.
Several research analysts have commented on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $16.00 target price on shares of Northwest Bancshares in a report on Sunday, October 8th. Zacks Investment Research cut shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, BidaskClub cut shares of Northwest Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $16.50.
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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