Sequoia Financial Advisors LLC boosted its stake in Northwest Bancshares Inc. (NASDAQ:NWBI) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,618 shares of the company’s stock after buying an additional 785 shares during the period. Sequoia Financial Advisors LLC’s holdings in Northwest Bancshares were worth $484,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. GW Henssler & Associates Ltd. purchased a new stake in shares of Northwest Bancshares during the second quarter valued at about $155,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Northwest Bancshares during the second quarter valued at about $164,000. Capital Fund Management S.A. purchased a new stake in shares of Northwest Bancshares during the second quarter valued at about $1,099,000. American Century Companies Inc. raised its stake in shares of 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 in the last quarter. Finally, HL Financial Services LLC raised its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 65.72% of the company’s stock.
Northwest Bancshares Inc. (NASDAQ:NWBI) traded up 0.39% during trading on Monday, reaching $15.50. The company’s stock had a trading volume of 577,172 shares. The company’s 50 day moving average price is $15.52 and its 200 day moving average price is $14.72. The company has a market cap of $1.59 billion, a P/E ratio of 37.99 and a beta of 0.52. Northwest Bancshares Inc. has a 52 week low of $11.78 and a 52 week high of $15.80.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings results on Monday, July 25th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.27. Northwest Bancshares had a return on equity of 6.16% and a net margin of 9.62%. On average, equities analysts anticipate that Northwest Bancshares Inc. will post $0.58 earnings per share for the current fiscal year.
Several analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Northwest Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Tuesday, September 13th. Zacks Investment Research lowered Northwest Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 29th. Finally, FBR & Co raised their target price on Northwest Bancshares from $14.00 to $15.00 and gave the company a “mkt perform” rating in a report on Tuesday, July 26th.
In related news, VP Michael G. Smelko sold 10,125 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $14.98, for a total value of $151,672.50. Following the completion of the transaction, the vice president now directly owns 72,171 shares in the company, valued at approximately $1,081,121.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.
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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