Victory Capital Management Inc. increased its position in shares of Northwest Bancshares Inc. (NASDAQ:NWBI) by 17.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,318 shares of the company’s stock after buying an additional 7,075 shares during the period. Victory Capital Management Inc.’s holdings in Northwest Bancshares were worth $702,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NWBI. Hancock Holding Co. raised its position in Northwest Bancshares by 6.8% in the first quarter. Hancock Holding Co. now owns 58,004 shares of the company’s stock worth $783,000 after buying an additional 3,712 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Northwest Bancshares by 5.6% in the first quarter. Wellington Management Group LLP now owns 6,078,818 shares of the company’s stock worth $82,124,000 after buying an additional 320,294 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Northwest Bancshares by 6.0% in the first quarter. Geode Capital Management LLC now owns 977,188 shares of the company’s stock worth $13,201,000 after buying an additional 55,731 shares in the last quarter. UBS Group AG raised its position in shares of Northwest Bancshares by 1.4% in the first quarter. UBS Group AG now owns 52,734 shares of the company’s stock worth $712,000 after buying an additional 718 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Northwest Bancshares by 3.7% in the first quarter. Bessemer Group Inc. now owns 161,975 shares of the company’s stock worth $2,188,000 after buying an additional 5,760 shares in the last quarter. 65.74% of the stock is currently owned by institutional investors and hedge funds.
Northwest Bancshares Inc. (NASDAQ:NWBI) traded up 0.096% during mid-day trading on Tuesday, reaching $15.575. The company’s stock had a trading volume of 390,895 shares. The firm has a 50 day moving average price of $15.35 and a 200-day moving average price of $14.52. Northwest Bancshares Inc. has a 1-year low of $11.78 and a 1-year high of $15.75. The company has a market capitalization of $1.60 billion, a PE ratio of 38.174 and a beta of 0.49.
Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Monday, July 25th. The company reported ($0.07) earnings per share for the quarter, missing the 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%. On average, equities analysts predict that Northwest Bancshares Inc. will post $0.58 EPS for the current fiscal year.
A number of brokerages recently weighed in on NWBI. FBR & Co began coverage on Northwest Bancshares in a report on Wednesday, June 1st. They set a “market perform” rating and a $14.00 price objective on the stock. Zacks Investment Research lowered Northwest Bancshares from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 30th. Finally, Keefe, Bruyette & Woods upped their price objective on Northwest Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a 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 shares were sold at an average price of $14.98, for a total transaction of $151,672.50. Following the transaction, the vice president now owns 72,171 shares in the company, valued at $1,081,121.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.50% of the company’s stock.
About Northwest Bancshares
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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