Emerald Advisers Inc. PA held its stake in shares of Northwest Bancshares Inc. (NASDAQ:NWBI) during the second quarter, Holdings Channel reports. The fund owned 198,567 shares of the company’s stock at the end of the second quarter. Emerald Advisers Inc. PA’s holdings in Northwest Bancshares were worth $2,945,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of NWBI. Capital Fund Management S.A. acquired a new stake in shares of Northwest Bancshares during the second quarter worth $1,099,000. American Century Companies Inc. increased its stake in Northwest Bancshares by 3.0% in the second quarter. American Century Companies Inc. now owns 120,898 shares of the company’s stock valued at $1,793,000 after buying an additional 3,567 shares during the period. HL Financial Services LLC increased its stake in Northwest Bancshares by 5.4% in the second quarter. HL Financial Services LLC now owns 61,974 shares of the company’s stock valued at $919,000 after buying an additional 3,152 shares during the period. Bank of Montreal Can purchased a new stake in Northwest Bancshares during the second quarter valued at $349,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in Northwest Bancshares by 3.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,835,285 shares of the company’s stock valued at $27,216,000 after buying an additional 58,749 shares during the period. 65.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Northwest Bancshares Inc. (NASDAQ:NWBI) traded down 0.45% on Friday, reaching $15.63. The company’s stock had a trading volume of 492,001 shares. Northwest Bancshares Inc. has a 12 month low of $11.78 and a 12 month high of $15.79. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 38.31 and a beta of 0.53. The stock has a 50 day moving average of $15.49 and a 200-day moving average of $14.65.
Northwest Bancshares (NASDAQ:NWBI) last issued its earnings results on Monday, July 25th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by $0.27. Northwest Bancshares had a net margin of 9.62% and a return on equity of 6.16%. On average, analysts anticipate that Northwest Bancshares Inc. will post $0.58 EPS for the current year.
Several research firms recently weighed in on NWBI. Zacks Investment Research downgraded Northwest Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 29th. FBR & Co raised their price objective on Northwest Bancshares from $14.00 to $15.00 and gave the company a “mkt perform” rating in a report on Tuesday, July 26th. Finally, Keefe, Bruyette & Woods raised their price objective on Northwest Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Tuesday, September 13th.
In other Northwest Bancshares news, VP Michael G. Smelko sold 10,125 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $14.98, for a total transaction of $151,672.50. Following the sale, the vice president now owns 72,171 shares of the company’s stock, valued at approximately $1,081,121.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.50% of the company’s stock.
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 subsidiary, Northwest Bank, is a Pennsylvania-chartered stock savings bank.
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