Capital Fund Management S.A. Takes Position in Northwest Bancshares Inc. (NWBI)
Capital Fund Management S.A. purchased a new stake in Northwest Bancshares Inc. (NASDAQ:NWBI) during the second quarter, Holdings Channel reports. The institutional investor purchased 74,092 shares of the company’s stock, valued at approximately $1,099,000.
A number of other large investors also recently modified their holdings of NWBI. Wellington Management Group LLP increased its stake in shares of Northwest Bancshares by 5.6% in the first quarter. Wellington Management Group LLP now owns 6,078,818 shares of the company’s stock valued at $82,124,000 after buying an additional 320,294 shares during the period. Renaissance Technologies LLC increased its stake in shares of Northwest Bancshares by 15.0% in the first quarter. Renaissance Technologies LLC now owns 1,866,300 shares of the company’s stock valued at $25,214,000 after buying an additional 243,700 shares during the period. BlackRock Fund Advisors increased its position in Northwest Bancshares by 1.3% in the first quarter. BlackRock Fund Advisors now owns 6,451,357 shares of the company’s stock worth $87,158,000 after buying an additional 83,548 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Northwest Bancshares by 3.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,835,285 shares of the company’s stock worth $27,216,000 after buying an additional 58,749 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Northwest Bancshares by 6.0% in the first quarter. Geode Capital Management LLC now owns 977,188 shares of the company’s stock worth $13,201,000 after buying an additional 55,731 shares during the last quarter. Institutional investors own 65.74% of the company’s stock.
Northwest Bancshares Inc. (NASDAQ:NWBI) traded down 0.45% during mid-day trading on Friday, reaching $15.63. The company’s stock had a trading volume of 492,001 shares. The firm has a 50-day moving average of $15.49 and a 200-day moving average of $14.65. Northwest Bancshares Inc. has a 52 week low of $11.78 and a 52 week high of $15.79. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 38.31 and a beta of 0.53.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings data on Monday, July 25th. The company reported ($0.07) EPS for the quarter, missing the Zacks’ 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 research analysts expect that Northwest Bancshares Inc. will post $0.58 earnings per share for the current year.
A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Northwest Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Tuesday, September 13th. Zacks Investment Research downgraded Northwest Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 29th. Finally, FBR & Co increased their price objective 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 other Northwest Bancshares news, VP Michael G. Smelko sold 10,125 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $14.98, for a total transaction of $151,672.50. Following the transaction, the vice president now owns 72,171 shares in the company, valued at $1,081,121.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.
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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