Sterling Capital Management LLC lessened its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 6.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 887,921 shares of the savings and loans company’s stock after selling 60,000 shares during the period. Sterling Capital Management LLC owned about 0.87% of Northwest Bancshares worth $13,860,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of NWBI. BlackRock Inc. boosted its stake in shares of Northwest Bancshares by 52,513.7% in the 1st quarter. BlackRock Inc. now owns 12,529,950 shares of the savings and loans company’s stock valued at $211,005,000 after purchasing an additional 12,506,135 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Northwest Bancshares by 27.9% in 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 purchasing an additional 576,154 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Northwest Bancshares by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 9,155,426 shares of the savings and loans company’s stock valued at $154,177,000 after purchasing an additional 478,726 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Northwest Bancshares by 4.5% in 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 purchasing an additional 367,413 shares in the last quarter. Finally, Denver Investment Advisors LLC boosted its stake in shares of Northwest Bancshares by 42.6% in the 2nd quarter. Denver Investment Advisors LLC now owns 1,144,535 shares of the savings and loans company’s stock valued at $17,866,000 after purchasing an additional 341,916 shares in the last quarter. Institutional investors own 65.39% of the company’s stock.
Shares of Northwest Bancshares, Inc. (NASDAQ NWBI) traded up 0.43% on Friday, reaching $17.45. 56,710 shares of the company traded hands. Northwest Bancshares, Inc. has a one year low of $14.95 and a one year high of $19.10. The firm’s 50 day moving average is $16.44 and its 200 day moving average is $16.04. The company has a market capitalization of $1.79 billion, a P/E ratio of 20.34 and a beta of 0.65.
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 the Zacks’ consensus estimate of $0.21 by $0.01. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%. The firm had revenue of $124.21 million for the quarter, compared to analyst estimates of $116.82 million. Analysts expect that Northwest Bancshares, Inc. will post $0.93 earnings per share for the current fiscal year.
Several brokerages recently issued reports on NWBI. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $16.00 price target on shares of Northwest Bancshares in a research report on Sunday, October 8th. Zacks Investment Research downgraded shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, BidaskClub downgraded shares of Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Northwest Bancshares presently has a consensus rating of “Hold” and a consensus price target of $16.50.
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In other news, EVP Andrew Young sold 5,625 shares of Northwest Bancshares stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $16.18, for a total transaction of $91,012.50. Following the sale, the executive vice president now directly owns 60,254 shares of the company’s stock, valued at $974,909.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip M. Tredway sold 13,560 shares of Northwest Bancshares 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. Company insiders own 2.00% of the company’s stock.
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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