Northwest Bancshares, Inc. (NWBI) Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,416,604 shares of the savings and loans company’s stock after selling 30,402 shares during the period. Bank of New York Mellon Corp owned about 1.38% of Northwest Bancshares worth $22,113,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in shares of Northwest Bancshares by 32.9% in the second quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock valued at $133,000 after acquiring an additional 2,112 shares in the last quarter. Denver Investment Advisors LLC grew its holdings in shares of Northwest Bancshares by 42.6% in the second quarter. Denver Investment Advisors LLC now owns 1,144,535 shares of the savings and loans company’s stock valued at $17,866,000 after acquiring an additional 341,916 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Northwest Bancshares by 13.4% in the second quarter. First Trust Advisors LP now owns 1,527,891 shares of the savings and loans company’s stock valued at $23,850,000 after acquiring an additional 180,318 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Northwest Bancshares by 0.4% in the second quarter. Arizona State Retirement System now owns 53,211 shares of the savings and loans company’s stock valued at $831,000 after acquiring an additional 200 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Northwest Bancshares by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 641,423 shares of the savings and loans company’s stock valued at $10,013,000 after acquiring an additional 27,714 shares in the last quarter. 65.39% of the stock is owned by institutional investors.

NWBI has been the subject of several recent analyst reports. Zacks Investment Research raised Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub lowered Northwest Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock currently has an average rating of “Sell” and an average price target of $17.00.

Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at 16.23 on Friday. The firm’s 50-day moving average price is $15.74 and its 200 day moving average price is $16.10. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 18.92 and a beta of 0.63. Northwest Bancshares, Inc. has a one year low of $14.95 and a one year high of $19.10.

Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Monday, July 24th. The savings and loans company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $124.21 million during the quarter, compared to analyst estimates of $116.82 million. Northwest Bancshares had a net margin of 18.91% and a return on equity of 7.45%. On average, equities research analysts expect that Northwest Bancshares, Inc. will post $0.93 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $0.64 dividend on an annualized basis and a yield of 3.94%. Northwest Bancshares’s dividend payout ratio is presently 75.29%.

In other Northwest Bancshares news, EVP Andrew Young sold 5,625 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $16.18, for a total transaction of $91,012.50. Following the completion of the sale, the executive vice president now directly owns 60,254 shares in the company, valued at approximately $974,909.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Philip M. Tredway sold 13,560 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $16.13, for a total transaction of $218,722.80. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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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 segments include Community Banking and Consumer Finance.

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Institutional Ownership by Quarter for Northwest Bancshares (NASDAQ:NWBI)

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