Laurion Capital Management LP Invests $652,000 in Northwest Bancshares, Inc. (NWBI)
Laurion Capital Management LP purchased a new position in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 37,505 shares of the savings and loans company’s stock, valued at approximately $652,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Northwest Bancshares during the second quarter worth about $112,000. WBI Investments Inc. purchased a new stake in shares of Northwest Bancshares during the second quarter worth about $175,000. Trexquant Investment LP purchased a new stake in shares of Northwest Bancshares during the first quarter worth about $168,000. Virtu Financial LLC purchased a new stake in shares of Northwest Bancshares during the second quarter worth about $246,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Northwest Bancshares by 61.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,414 shares of the savings and loans company’s stock worth $237,000 after buying an additional 5,501 shares in the last quarter. Institutional investors and hedge funds own 71.16% of the company’s stock.
NWBI opened at $18.20 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.00 and a current ratio of 1.00. Northwest Bancshares, Inc. has a 1 year low of $15.34 and a 1 year high of $18.56. The company has a market capitalization of $1.89 billion, a P/E ratio of 21.67, a P/E/G ratio of 2.57 and a beta of 0.69.
In related news, EVP Thomas J. Townsend sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $18.40, for a total value of $193,200.00. Following the sale, the executive vice president now directly owns 24,100 shares of the company’s stock, valued at $443,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William J. Wagner sold 35,733 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $17.83, for a total transaction of $637,119.39. Following the completion of the sale, the insider now directly owns 272,672 shares in the company, valued at $4,861,741.76. The disclosure for this sale can be found here. Insiders sold 290,415 shares of company stock worth $5,250,731 over the last three months. Corporate insiders own 2.20% of the company’s stock.
A number of equities research analysts have recently commented on NWBI shares. Boenning Scattergood started coverage on shares of Northwest Bancshares in a report on Monday, July 23rd. They set a “hold” rating for the company. BidaskClub downgraded shares of Northwest Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Finally, Zacks Investment Research upgraded shares of Northwest Bancshares from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, June 20th.
About Northwest Bancshares
Northwest Bancshares, Inc operates as a bank holding company for Northwest Savings Bank that offers various personal and business banking solutions in the United States. The company offers personal and business deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts.
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