Northwest Bancshares, Inc. (NASDAQ:NWBI) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 4.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,448,413 shares of the savings and loans company’s stock after purchasing an additional 57,955 shares during the quarter. Geode Capital Management LLC owned 1.40% of Northwest Bancshares worth $24,536,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Northwest Bancshares in the 4th quarter worth $22,234,000. Oregon Public Employees Retirement Fund purchased a new stake in shares of Northwest Bancshares in the 4th quarter worth $39,000. Acadian Asset Management LLC lifted its holdings in shares of Northwest Bancshares by 91.1% in the 4th quarter. Acadian Asset Management LLC now owns 844,444 shares of the savings and loans company’s stock worth $14,305,000 after buying an additional 402,456 shares during the period. BlackRock Inc. lifted its holdings in shares of Northwest Bancshares by 2.6% in the 4th quarter. BlackRock Inc. now owns 15,127,626 shares of the savings and loans company’s stock worth $256,260,000 after buying an additional 388,953 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Northwest Bancshares by 26.5% in the 4th quarter. Bank of America Corp DE now owns 943,867 shares of the savings and loans company’s stock worth $15,989,000 after buying an additional 197,440 shares during the period. 72.09% of the stock is currently owned by hedge funds and other institutional investors.

NWBI has been the subject of several recent research reports. Zacks Investment Research raised Northwest Bancshares from a “hold” rating to a “strong-buy” rating and set a $20.00 price target for the company in a research report on Wednesday, April 24th. BidaskClub lowered Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Finally, Boenning Scattergood reissued a “neutral” rating on shares of Northwest Bancshares in a report on Wednesday, April 17th.

Shares of NWBI stock traded down $0.01 during mid-day trading on Monday, reaching $17.61. The stock had a trading volume of 495,600 shares, compared to its average volume of 479,410. The business has a fifty day moving average of $17.10. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68. Northwest Bancshares, Inc. has a 1-year low of $15.50 and a 1-year high of $18.81.

Northwest Bancshares (NASDAQ:NWBI) last issued its earnings results on Wednesday, April 17th. The savings and loans company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Northwest Bancshares had a return on equity of 8.48% and a net margin of 22.08%. The company had revenue of $109.64 million during the quarter, compared to analysts’ expectations of $110.59 million. During the same quarter in the previous year, the company earned $0.24 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. Analysts forecast that Northwest Bancshares, Inc. will post 1.11 earnings per share for the current year.

In other Northwest Bancshares news, Director Robert M. Campana sold 11,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $17.03, for a total transaction of $187,330.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy M. Hunter purchased 4,000 shares of the stock in a transaction on Friday, May 17th. The shares were acquired at an average price of $17.15 per share, for a total transaction of $68,600.00. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.

About Northwest Bancshares

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

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