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Northwest Bancshares, Inc. (NWBI) Shares Bought by Huntington National Bank

Northwest Bancshares logoHuntington National Bank boosted its stake in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 76.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 15,470 shares of the savings and loans company’s stock after buying an additional 6,720 shares during the period. Huntington National Bank’s holdings in Northwest Bancshares were worth $242,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Glen Harbor Capital Management LLC boosted its stake in Northwest Bancshares by 3.1% in the first quarter. Glen Harbor Capital Management LLC now owns 5,936 shares of the savings and loans company’s stock valued at $100,000 after buying an additional 176 shares during the period. Tyers Asset Management LLC boosted its stake in Northwest Bancshares by 3.1% in the first quarter. Tyers Asset Management LLC now owns 8,162 shares of the savings and loans company’s stock valued at $137,000 after buying an additional 242 shares during the period. Ameritas Investment Partners Inc. bought a new stake in Northwest Bancshares during the first quarter valued at $140,000. Flinton Capital Management LLC boosted its stake in Northwest Bancshares by 3.1% in the first quarter. Flinton Capital Management LLC now owns 10,388 shares of the savings and loans company’s stock valued at $175,000 after buying an additional 308 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Northwest Bancshares during the first quarter valued at $185,000. Institutional investors and hedge funds own 66.26% of the company’s stock.

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Northwest Bancshares, Inc. (NWBI) traded down 0.68% during trading on Wednesday, hitting $15.95. 302,193 shares of the company traded hands. Northwest Bancshares, Inc. has a 52 week low of $14.95 and a 52 week high of $19.10. The company’s 50 day moving average is $15.71 and its 200-day moving average is $16.48. The stock has a market capitalization of $1.63 billion, a PE ratio of 18.59 and a beta of 0.63.

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 the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Northwest Bancshares had a net margin of 18.91% and a return on equity of 7.45%. The business had revenue of $124.21 million for the quarter, compared to the consensus estimate of $116.82 million. Analysts predict that Northwest Bancshares, Inc. will post $0.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Tuesday, August 1st. Northwest Bancshares’s payout ratio is presently 75.29%.

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Several research firms have recently weighed in on NWBI. Zacks Investment Research cut shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. BidaskClub upgraded shares of Northwest Bancshares from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Finally, ValuEngine cut shares of Northwest Bancshares from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research report on Thursday, May 11th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Northwest Bancshares presently has an average rating of “Hold” and a consensus price target of $16.60.

In other Northwest Bancshares news, Director Philip M. Tredway sold 13,560 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $16.13, for a total transaction of $218,722.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

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)

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