Russell Investments Group Ltd. increased its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 26.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 192,484 shares of the savings and loans company’s stock after acquiring an additional 40,107 shares during the period. Russell Investments Group Ltd. owned about 0.19% of Northwest Bancshares worth $3,361,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of NWBI. CWM LLC bought a new stake in shares of Northwest Bancshares in the second quarter worth $38,000. Resources Investment Advisors Inc. grew its holdings in shares of Northwest Bancshares by 23.8% in the first quarter. Resources Investment Advisors Inc. now owns 4,566 shares of the savings and loans company’s stock worth $77,000 after acquiring an additional 879 shares during the period. NEXT Financial Group Inc grew its holdings in shares of Northwest Bancshares by 6,628.0% in the second quarter. NEXT Financial Group Inc now owns 6,728 shares of the savings and loans company’s stock worth $118,000 after acquiring an additional 6,628 shares during the period. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Northwest Bancshares in the first quarter worth $146,000. Finally, Coastal Investment Advisors Inc. grew its holdings in shares of Northwest Bancshares by 316.9% in the second quarter. Coastal Investment Advisors Inc. now owns 8,271 shares of the savings and loans company’s stock worth $147,000 after acquiring an additional 6,287 shares during the period. 70.76% of the stock is owned by institutional investors.
NASDAQ:NWBI traded down $0.19 during mid-day trading on Monday, hitting $16.55. 71,888 shares of the company traded hands, compared to its average volume of 392,186. The stock’s fifty day moving average price is $16.37 and its 200-day moving average price is $17.07. Northwest Bancshares, Inc. has a one year low of $15.46 and a one year high of $18.81. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68.
Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings results on Monday, July 22nd. The savings and loans company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Northwest Bancshares had a net margin of 21.50% and a return on equity of 8.31%. The company had revenue of $115.97 million for the quarter, compared to the consensus estimate of $117.86 million. Equities analysts predict that Northwest Bancshares, Inc. will post 1.04 EPS for the current year.
Several brokerages recently commented on NWBI. BidaskClub raised Northwest Bancshares from a “strong sell” rating to a “sell” rating in a report on Thursday. Boenning Scattergood reaffirmed a “neutral” rating on shares of Northwest Bancshares in a report on Thursday, June 20th. Finally, Zacks Investment Research lowered Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd.
Northwest Bancshares Profile
Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.
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