Engineers Gate Manager LP acquired a new stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 64,585 shares of the savings and loans company’s stock, valued at approximately $1,008,000. Engineers Gate Manager LP owned approximately 0.06% of Northwest Bancshares as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can lifted its holdings in shares of Northwest Bancshares by 12.7% in the 1st quarter. Bank of Montreal Can now owns 17,265 shares of the savings and loans company’s stock valued at $290,000 after acquiring an additional 1,949 shares during the last quarter. Glen Harbor Capital Management LLC lifted its holdings in shares of Northwest Bancshares by 3.1% in the 1st quarter. Glen Harbor Capital Management LLC now owns 5,936 shares of the savings and loans company’s stock valued at $100,000 after acquiring an additional 176 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Northwest Bancshares by 2.2% in the 1st quarter. Wells Fargo & Company MN now owns 745,344 shares of the savings and loans company’s stock valued at $12,551,000 after acquiring an additional 15,771 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Northwest Bancshares by 7.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 140,279 shares of the savings and loans company’s stock valued at $2,359,000 after acquiring an additional 9,656 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Northwest Bancshares by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 1,447,006 shares of the savings and loans company’s stock worth $24,368,000 after purchasing an additional 45,763 shares during the last quarter. Hedge funds and other institutional investors own 65.39% of the company’s stock.
Shares of Northwest Bancshares, Inc. (NASDAQ NWBI) opened at 17.27 on Friday. The stock’s 50 day moving average is $15.76 and its 200-day moving average is $16.04. The stock has a market cap of $1.77 billion, a PE ratio of 20.13 and a beta of 0.63. Northwest Bancshares, Inc. has a 1-year low of $14.95 and a 1-year high of $19.10.
Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings data on Monday, July 24th. The savings and loans company reported $0.22 earnings per share for the quarter, beating the 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 company had revenue of $124.21 million during the quarter, compared to analysts’ expectations of $116.82 million. On average, analysts predict that Northwest Bancshares, Inc. will post $0.93 EPS for the current fiscal year.
In other news, EVP Andrew Young sold 5,625 shares of the firm’s stock in a transaction on 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 in the company, valued at $974,909.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Philip M. Tredway sold 13,560 shares of the firm’s stock in a transaction on 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. 2.00% of the stock is owned by company insiders.
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A number of equities analysts have recently commented on NWBI shares. BidaskClub raised shares of Northwest Bancshares from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Zacks Investment Research raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock presently has a consensus rating of “Sell” and an average price target of $17.00.
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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