Stevens Capital Management LP Has $922,000 Holdings in Northwest Bancshares, Inc. (NWBI)
Stevens Capital Management LP grew its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 29.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,037 shares of the savings and loans company’s stock after acquiring an additional 13,326 shares during the period. Stevens Capital Management LP owned about 0.06% of Northwest Bancshares worth $922,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of NWBI. BlackRock Inc. raised its position in shares of Northwest Bancshares by 52,513.7% in the first quarter. BlackRock Inc. now owns 12,529,950 shares of the savings and loans company’s stock worth $211,005,000 after acquiring an additional 12,506,135 shares during the period. Vanguard Group Inc. raised its position in shares of Northwest Bancshares by 5.5% in the first quarter. Vanguard Group Inc. now owns 9,155,426 shares of the savings and loans company’s stock worth $154,177,000 after acquiring an additional 478,726 shares during the period. Denver Investment Advisors LLC raised its position in shares of Northwest Bancshares by 42.6% in the second quarter. Denver Investment Advisors LLC now owns 1,144,535 shares of the savings and loans company’s stock worth $17,866,000 after acquiring an additional 341,916 shares during the period. First Trust Advisors LP raised its position in shares of Northwest Bancshares by 13.4% in the second quarter. First Trust Advisors LP now owns 1,527,891 shares of the savings and loans company’s stock worth $23,850,000 after acquiring an additional 180,318 shares during the period. Finally, Piermont Capital Management Inc. acquired a new position in shares of Northwest Bancshares in the first quarter worth about $2,840,000. Institutional investors and hedge funds own 65.39% of the company’s stock.
A number of research analysts have weighed in on the stock. BidaskClub upgraded shares of Northwest Bancshares from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Zacks Investment Research downgraded shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock currently has a consensus rating of “Sell” and an average price target of $17.00.
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In other news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $91,012.50. Following the completion of the sale, the executive vice president now owns 60,254 shares of the company’s stock, valued at approximately $974,909.72. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at 16.66 on Monday. The firm has a 50 day moving average of $15.76 and a 200-day moving average of $16.04. The firm has a market cap of $1.71 billion, a P/E ratio of 19.42 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 released its earnings results on Monday, July 24th. The savings and loans company reported $0.22 EPS 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 company had revenue of $124.21 million during the quarter, compared to analysts’ expectations of $116.82 million. On average, equities research analysts forecast that Northwest Bancshares, Inc. will post $0.93 earnings per share for the current year.
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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