Bank of New York Mellon Corp reduced its position in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 2.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,416,604 shares of the savings and loans company’s stock after selling 30,402 shares during the period. Bank of New York Mellon Corp owned approximately 1.38% of Northwest Bancshares worth $22,113,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Glen Harbor Capital Management LLC increased its holdings in Northwest Bancshares by 3.1% in the first quarter. Glen Harbor Capital Management LLC now owns 5,936 shares of the savings and loans company’s stock valued at $100,000 after buying an additional 176 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Northwest Bancshares in the first quarter valued at about $140,000. SG Americas Securities LLC increased its holdings in Northwest Bancshares by 32.9% in the second quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock valued at $133,000 after buying an additional 2,112 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Northwest Bancshares in the first quarter valued at approximately $185,000. Finally, Neuburgh Advisers LLC grew its position in shares of Northwest Bancshares by 3.1% in the first quarter. Neuburgh Advisers LLC now owns 12,614 shares of the savings and loans company’s stock valued at $212,000 after purchasing an additional 374 shares during the last quarter. 65.39% of the stock is owned by hedge funds and other institutional investors.
NWBI has been the topic of several research reports. Zacks Investment Research upgraded shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub upgraded shares of Northwest Bancshares from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Northwest Bancshares has a consensus rating of “Sell” and a consensus price target of $17.00.
Northwest Bancshares, Inc. (NWBI) traded up 0.17% during midday trading on Friday, reaching $17.27. 405,540 shares of the company traded hands. The firm has a 50 day moving average of $15.76 and a 200-day moving average of $16.04. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 20.13 and a beta of 0.63. Northwest Bancshares, Inc. has a 12 month low of $14.95 and a 12 month high of $19.10.
Northwest Bancshares (NASDAQ:NWBI) last posted its earnings results on Monday, July 24th. The savings and loans company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Northwest Bancshares had a net margin of 18.91% and a return on equity of 7.45%. The business had revenue of $124.21 million for the quarter, compared to analyst estimates of $116.82 million. Analysts forecast that Northwest Bancshares, Inc. will post $0.93 EPS for the current fiscal year.
In other Northwest Bancshares news, Director Philip M. Tredway sold 13,560 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $16.13, for a total transaction of $218,722.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Andrew Young sold 5,625 shares of the 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 in the company, valued at approximately $974,909.72. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
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Northwest Bancshares 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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