Ameriprise Financial Inc. reduced its stake in Northwest Bancshares Inc. (NASDAQ:NWBI) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628,983 shares of the company’s stock after selling 14,756 shares during the period. Ameriprise Financial Inc. owned approximately 0.62% of Northwest Bancshares worth $9,328,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in Northwest Bancshares by 68.9% in the first quarter. BlackRock Inc. now owns 9,827 shares of the company’s stock worth $133,000 after buying an additional 4,009 shares during the period. GW Henssler & Associates Ltd. bought a new position in Northwest Bancshares during the second quarter worth $155,000. Quantitative Systematic Strategies LLC bought a new position in Northwest Bancshares during the second quarter worth $164,000. Airain ltd bought a new position in Northwest Bancshares during the second quarter worth $177,000. Finally, Fox Run Management L.L.C. bought a new position in Northwest Bancshares during the second quarter worth $178,000. 65.74% of the stock is owned by hedge funds and other institutional investors.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings results on Monday, July 25th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.27. Northwest Bancshares had a net margin of 9.62% and a return on equity of 6.16%.
A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on Northwest Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Tuesday, September 13th. Zacks Investment Research lowered Northwest Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 29th. Finally, FBR & Co raised their price objective on Northwest Bancshares from $14.00 to $15.00 and gave the company a “mkt perform” rating in a research report on Tuesday, July 26th.
In other news, VP Michael G. Smelko sold 10,125 shares of Northwest Bancshares stock in a transaction on Monday, August 1st. The shares were sold at an average price of $14.98, for a total transaction of $151,672.50. Following the completion of the sale, the vice president now directly owns 72,171 shares of the company’s stock, valued at approximately $1,081,121.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.50% of the company’s stock.
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 subsidiary, Northwest Bank, is a Pennsylvania-chartered stock savings bank.
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