Northwest Bancshares, Inc. (NWBI) Holdings Reduced by Bessemer Group Inc.

Bessemer Group Inc. decreased its position in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 36.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 120,700 shares of the savings and loans company’s stock after selling 69,853 shares during the period. Bessemer Group Inc. owned 0.12% of Northwest Bancshares worth $2,084,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NWBI. UBS Asset Management Americas Inc. raised its stake in Northwest Bancshares by 60.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 63,589 shares of the savings and loans company’s stock worth $1,071,000 after acquiring an additional 23,837 shares during the period. OppenheimerFunds Inc. raised its stake in Northwest Bancshares by 64.6% during the 1st quarter. OppenheimerFunds Inc. now owns 20,145 shares of the savings and loans company’s stock worth $339,000 after acquiring an additional 7,908 shares during the period. Teachers Advisors LLC raised its stake in Northwest Bancshares by 2.3% during the 1st quarter. Teachers Advisors LLC now owns 186,754 shares of the savings and loans company’s stock worth $3,145,000 after acquiring an additional 4,258 shares during the period. Vanguard Group Inc. raised its stake in Northwest Bancshares by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 9,155,426 shares of the savings and loans company’s stock worth $154,177,000 after acquiring an additional 478,726 shares during the period. Finally, BlackRock Inc. raised its stake in Northwest Bancshares by 52,513.7% during the 1st quarter. BlackRock Inc. now owns 12,529,950 shares of the savings and loans company’s stock worth $211,005,000 after acquiring an additional 12,506,135 shares during the period. Institutional investors own 64.37% of the company’s stock.

Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at $15.74 on Tuesday. The stock has a market cap of $1,598.83, a P/E ratio of 17.70, a PEG ratio of 1.84 and a beta of 0.64. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.19. Northwest Bancshares, Inc. has a 1 year low of $14.95 and a 1 year high of $19.10.

Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings data on Monday, October 23rd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $107.83 million for the quarter, compared to analysts’ expectations of $106.63 million. Northwest Bancshares had a net margin of 20.59% and a return on equity of 7.54%. sell-side analysts expect that Northwest Bancshares, Inc. will post 0.85 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Wednesday, November 1st. Northwest Bancshares’s payout ratio is currently 68.09%.

Several equities research analysts have recently issued reports on NWBI shares. Zacks Investment Research cut shares of Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $16.00 price objective on shares of Northwest Bancshares in a research report on Sunday, October 8th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Northwest Bancshares in a research report on Tuesday, October 24th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.67.

In related news, EVP Andrew Young sold 5,625 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $16.18, for a total value of $91,012.50. Following the completion of the transaction, the executive vice president now directly owns 60,254 shares of the company’s stock, valued at $974,909.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jonathan P. Scalise sold 6,047 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $17.21, for a total transaction of $104,068.87. Following the completion of the transaction, the executive vice president now directly owns 18,402 shares of the company’s stock, valued at $316,698.42. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://sportsperspectives.com/2017/11/14/northwest-bancshares-inc-nwbi-holdings-reduced-by-bessemer-group-inc.html.

About Northwest Bancshares

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)

Receive News & Ratings for Northwest Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northwest Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply