Northwest Bancshares, Inc. (NWBI) Stake Lessened by Alliancebernstein L.P.
Alliancebernstein L.P. cut its holdings in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 11.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,947 shares of the savings and loans company’s stock after selling 18,600 shares during the period. Alliancebernstein L.P. owned 0.14% of Northwest Bancshares worth $2,169,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC increased its position in shares of Northwest Bancshares by 32.9% during the second quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock worth $133,000 after purchasing an additional 2,112 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Northwest Bancshares during the first quarter worth $140,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Northwest Bancshares during the first quarter worth $185,000. Huntington National Bank increased its position in shares of Northwest Bancshares by 76.8% during the second quarter. Huntington National Bank now owns 15,470 shares of the savings and loans company’s stock worth $242,000 after purchasing an additional 6,720 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Northwest Bancshares by 13.2% during the second quarter. Sei Investments Co. now owns 19,693 shares of the savings and loans company’s stock worth $308,000 after purchasing an additional 2,296 shares in the last quarter. 65.35% of the stock is currently owned by institutional investors and hedge funds.
Northwest Bancshares, Inc. (NWBI) opened at 17.36 on Monday. The firm has a market capitalization of $1.78 billion, a P/E ratio of 20.23 and a beta of 0.65. The stock’s 50 day moving average price is $16.52 and its 200-day moving average price is $16.04. 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 quarterly earnings data on Monday, July 24th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The business had revenue of $124.21 million during the quarter, compared to analysts’ expectations of $116.82 million. Northwest Bancshares had a net margin of 18.91% and a return on equity of 7.45%. Equities analysts forecast that Northwest Bancshares, Inc. will post $0.93 earnings per share for the current year.
A number of equities analysts have recently issued reports on the company. BidaskClub downgraded Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $16.00 price target on shares of Northwest Bancshares in a research report on Sunday, October 8th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $16.50.
In other news, EVP Andrew Young sold 5,625 shares of Northwest Bancshares stock in a transaction on Thursday, September 14th. The shares were 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 directly owns 60,254 shares of the company’s stock, valued at approximately $974,909.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Philip M. Tredway sold 13,560 shares of Northwest Bancshares stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $16.13, for a total transaction of $218,722.80. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
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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