Prudential Financial Inc. decreased its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 2.4% during the 4th quarter, Holdings Channel reports. The firm owned 167,838 shares of the savings and loans company’s stock after selling 4,090 shares during the period. Prudential Financial Inc.’s holdings in Northwest Bancshares were worth $2,843,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Bank of Montreal Can increased its position in shares of Northwest Bancshares by 13.9% during the 4th quarter. Bank of Montreal Can now owns 5,588 shares of the savings and loans company’s stock worth $94,000 after purchasing an additional 683 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Northwest Bancshares during the 4th quarter worth approximately $188,000. Verity & Verity LLC increased its position in shares of Northwest Bancshares by 15.6% during the 4th quarter. Verity & Verity LLC now owns 15,720 shares of the savings and loans company’s stock worth $266,000 after purchasing an additional 2,125 shares during the last quarter. GAM Holding AG acquired a new position in shares of Northwest Bancshares during the 3rd quarter worth approximately $350,000. Finally, Mascoma Wealth Management LLC increased its position in shares of Northwest Bancshares by 46.1% during the 4th quarter. Mascoma Wealth Management LLC now owns 20,605 shares of the savings and loans company’s stock worth $349,000 after purchasing an additional 6,500 shares during the last quarter. 73.26% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:NWBI opened at $17.30 on Friday. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 2.38 and a beta of 0.71. Northwest Bancshares, Inc. has a twelve month low of $15.50 and a twelve month high of $18.81. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.27.
Northwest Bancshares (NASDAQ:NWBI) last issued its earnings results on Tuesday, January 22nd. The savings and loans company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). Northwest Bancshares had a return on equity of 8.54% and a net margin of 22.57%. The business had revenue of $110.08 million for the quarter, compared to the consensus estimate of $109.58 million. Research analysts forecast that Northwest Bancshares, Inc. will post 1.05 EPS for the current fiscal year.
In other news, Director Philip M. Tredway sold 39,210 shares of Northwest Bancshares stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $17.97, for a total transaction of $704,603.70. Following the completion of the transaction, the director now directly owns 25,470 shares in the company, valued at approximately $457,695.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Julia W. Mctavish sold 9,810 shares of Northwest Bancshares stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $17.89, for a total value of $175,500.90. Following the transaction, the vice president now owns 74,752 shares of the company’s stock, valued at $1,337,313.28. The disclosure for this sale can be found here. Insiders have sold a total of 50,800 shares of company stock valued at $913,355 over the last quarter. 1.40% of the stock is currently owned by corporate insiders.
Several research firms have weighed in on NWBI. Zacks Investment Research lowered Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. BidaskClub raised Northwest Bancshares from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 20th.
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About Northwest Bancshares
Northwest Bancshares, Inc operates as a holding company for Northwest Bank that offers various personal and business banking solutions. The company accepts various deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts. Its loan products include one-to-four family residential real estate, short-term consumer, multi-family residential and commercial real estate, commercial business, and residential mortgage loans; home equity lines of credit; and consumer loans comprising automobile, sales finance, unsecured personal, and credit card loans, as well as loans secured by deposit accounts.
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