State Street Corp Raises Stake in Northwest Bancshares, Inc. (NWBI)

State Street Corp raised its stake in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 12.4% during the fourth quarter, Holdings Channel reports. The fund owned 2,354,568 shares of the company’s stock after buying an additional 259,398 shares during the period. State Street Corp’s holdings in Northwest Bancshares were worth $42,451,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the company. Vantage Investment Advisors LLC boosted its position in Northwest Bancshares by 30.6% in the third quarter. Vantage Investment Advisors LLC now owns 7,994 shares of the company’s stock valued at $126,000 after buying an additional 1,875 shares during the last quarter. Creative Planning boosted its position in Northwest Bancshares by 12.8% in the third quarter. Creative Planning now owns 8,449 shares of the company’s stock valued at $133,000 after buying an additional 959 shares during the last quarter. GW Henssler & Associates Ltd. boosted its position in Northwest Bancshares by 12.8% in the third quarter. GW Henssler & Associates Ltd. now owns 11,775 shares of the company’s stock valued at $185,000 after buying an additional 1,335 shares during the last quarter. SG Americas Securities LLC acquired a new position in Northwest Bancshares during the third quarter valued at approximately $224,000. Finally, Nisa Investment Advisors LLC boosted its position in Northwest Bancshares by 10.5% in the third quarter. Nisa Investment Advisors LLC now owns 14,750 shares of the company’s stock valued at $232,000 after buying an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 67.11% of the company’s stock.

Institutional Ownership by Quarter for Northwest Bancshares (NASDAQ:NWBI)

Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at 17.46 on Tuesday. The stock has a market capitalization of $1.78 billion, a PE ratio of 35.63 and a beta of 0.62. Northwest Bancshares, Inc. has a 52-week low of $13.09 and a 52-week high of $19.10. The company’s 50-day moving average price is $17.61 and its 200 day moving average price is $17.03.

Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings data on Monday, January 23rd. The company reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25. Northwest Bancshares had a return on equity of 7.31% and a net margin of 11.46%. Equities analysts forecast that Northwest Bancshares, Inc. will post $0.93 EPS for the current fiscal year.

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Several research firms recently commented on NWBI. DA Davidson began coverage on Northwest Bancshares in a research report on Monday, March 6th. They set a “neutral” rating and a $18.00 target price for the company. Zacks Investment Research cut Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, January 13th. Finally, Sandler O’Neill cut Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, December 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Northwest Bancshares currently has an average rating of “Hold” and an average target price of $16.40.

In related news, CFO William W. Harvey sold 11,857 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $18.49, for a total value of $219,235.93. Following the transaction, the chief financial officer now owns 143,256 shares in the company, valued at $2,648,803.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gerald J. Ritzert sold 42,936 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $17.64, for a total value of $757,391.04. Following the completion of the transaction, the executive vice president now owns 142,691 shares in the company, valued at approximately $2,517,069.24. The disclosure for this sale can be found here. Insiders sold 85,680 shares of company stock worth $1,536,895 in the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

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 subsidiary, Northwest Bank, is a Pennsylvania-chartered stock savings bank.

5 Day Chart for NASDAQ:NWBI

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