HL Financial Services LLC boosted its stake in shares of Northwest Bancshares Inc. (NASDAQ:NWBI) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,974 shares of the company’s stock after buying an additional 3,152 shares during the period. HL Financial Services LLC’s holdings in Northwest Bancshares were worth $919,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Northwest Bancshares by 68.9% in the first quarter. BlackRock Inc. now owns 9,827 shares of the company’s stock valued at $133,000 after buying an additional 4,009 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Northwest Bancshares during the second quarter worth $178,000. Nisa Investment Advisors LLC increased its stake in shares of Northwest Bancshares by 3.5% in the second quarter. Nisa Investment Advisors LLC now owns 13,350 shares of the company’s stock worth $198,000 after buying an additional 450 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Northwest Bancshares by 5.5% in the first quarter. Royal Bank of Canada now owns 19,810 shares of the company’s stock worth $267,000 after buying an additional 1,030 shares during the last quarter. Finally, Commonwealth Equity Services Inc increased its stake in shares of Northwest Bancshares by 3.7% in the first quarter. Commonwealth Equity Services Inc now owns 19,987 shares of the company’s stock worth $270,000 after buying an additional 713 shares during the last quarter. Hedge funds and other institutional investors own 65.74% of the company’s stock.
Shares of Northwest Bancshares Inc. (NASDAQ:NWBI) traded down 0.51% during midday trading on Monday, reaching $15.56. The company’s stock had a trading volume of 1,033,486 shares. The company has a market cap of $1.60 billion, a P/E ratio of 38.14 and a beta of 0.49. The stock’s 50-day moving average price is $15.35 and its 200-day moving average price is $14.52. Northwest Bancshares Inc. has a 12-month low of $11.78 and a 12-month high of $15.75.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings results on Monday, July 25th. The company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ 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, analysts expect that Northwest Bancshares Inc. will post $0.58 EPS for the current fiscal year.
NWBI has been the topic of a number of recent research reports. FBR & Co initiated coverage on Northwest Bancshares in a research report on Wednesday, June 1st. They set a “market perform” rating and a $14.00 price objective on the stock. Zacks Investment Research downgraded Northwest Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 30th. Finally, 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.
In other news, VP Michael G. Smelko sold 10,125 shares of the company’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 completion of the transaction, 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 legal filing with the SEC, which is available at this hyperlink. 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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