Northwest Bancshares, Inc. (NWBI) Position Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 17.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 154,910 shares of the savings and loans company’s stock after selling 32,959 shares during the period. JPMorgan Chase & Co. owned about 0.15% of Northwest Bancshares worth $2,671,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NWBI. Sei Investments Co. grew its position in Northwest Bancshares by 13.2% in the 2nd quarter. Sei Investments Co. now owns 19,693 shares of the savings and loans company’s stock worth $308,000 after purchasing an additional 2,296 shares during the period. Schwab Charles Investment Management Inc. grew its position in Northwest Bancshares by 4.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 641,423 shares of the savings and loans company’s stock worth $10,013,000 after purchasing an additional 27,714 shares during the period. SG Americas Securities LLC grew its position in Northwest Bancshares by 32.9% in the 2nd quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock worth $133,000 after purchasing an additional 2,112 shares during the period. Legal & General Group Plc grew its position in Northwest Bancshares by 7.0% in the 2nd quarter. Legal & General Group Plc now owns 240,446 shares of the savings and loans company’s stock worth $3,753,000 after purchasing an additional 15,679 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in Northwest Bancshares by 51.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 37,924 shares of the savings and loans company’s stock worth $592,000 after purchasing an additional 12,927 shares during the period. Institutional investors own 64.51% of the company’s stock.

NWBI has been the subject of a number of research analyst reports. Boenning Scattergood reaffirmed a “hold” rating on shares of Northwest Bancshares in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $16.00 price objective on shares of Northwest Bancshares in a research report on Sunday, October 8th. BidaskClub raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Finally, Zacks Investment Research downgraded shares of Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 26th. Five analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $17.25.

In related news, CFO William W. Harvey sold 10,000 shares of Northwest Bancshares stock in a transaction on Monday, December 4th. The shares were sold at an average price of $17.28, for a total transaction of $172,800.00. Following the transaction, the chief financial officer now owns 158,649 shares in the company, valued at approximately $2,741,454.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gerald J. Ritzert sold 9,592 shares of Northwest Bancshares stock in a transaction on Monday, December 11th. The shares were sold at an average price of $16.57, for a total transaction of $158,939.44. Following the transaction, the executive vice president now owns 50,657 shares in the company, valued at approximately $839,386.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,639 shares of company stock worth $435,808. 2.00% of the stock is owned by corporate insiders.

Northwest Bancshares, Inc. (NASDAQ NWBI) opened at $16.51 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.99 and a current ratio of 0.99. Northwest Bancshares, Inc. has a one year low of $14.95 and a one year high of $18.63. The firm has a market cap of $1,684.00, a price-to-earnings ratio of 17.56, a P/E/G ratio of 1.61 and a beta of 0.63.

Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Monday, October 23rd. The savings and loans company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Northwest Bancshares had a net margin of 20.59% and a return on equity of 7.54%. The company had revenue of $107.83 million for the quarter, compared to analysts’ expectations of $106.63 million. research analysts expect that Northwest Bancshares, Inc. will post 0.83 earnings per share for the current year.

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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.

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

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