Principal Financial Group Inc. increased its position in Northwest Bancshares Inc. (NASDAQ:NWBI) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 729,606 shares of the company’s stock after buying an additional 18,296 shares during the period. Principal Financial Group Inc. owned approximately 0.72% of Northwest Bancshares worth $10,820,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Northwest Bancshares by 68.9% in the first quarter. BlackRock Inc. now owns 9,827 shares of the company’s stock worth $133,000 after buying an additional 4,009 shares in the last quarter. GW Henssler & Associates Ltd. bought a new stake in Northwest Bancshares during the second quarter worth $155,000. Quantitative Systematic Strategies LLC bought a new stake in Northwest Bancshares during the second quarter worth $164,000. Airain ltd bought a new stake in Northwest Bancshares during the second quarter worth $177,000. Finally, Fox Run Management L.L.C. bought a new stake in Northwest Bancshares during the second quarter worth $178,000. Institutional investors own 65.74% of the company’s stock.
Shares of Northwest Bancshares Inc. (NASDAQ:NWBI) opened at 15.34 on Friday. Northwest Bancshares Inc. has a one year low of $11.78 and a one year high of $15.80. The stock’s 50 day moving average price is $15.52 and its 200 day moving average price is $14.70. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 37.60 and a beta of 0.53.
Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings results on Monday, July 25th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.27. Northwest Bancshares had a net margin of 9.62% and a return on equity of 6.16%. Analysts forecast that Northwest Bancshares Inc. will post $0.58 earnings per share for the current year.
NWBI has been the subject of a number of analyst reports. Zacks Investment Research lowered Northwest Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 29th. Keefe, Bruyette & Woods upped their target price on Northwest Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Tuesday, September 13th. Finally, FBR & Co upped their target price on Northwest Bancshares from $14.00 to $15.00 and gave the stock a “mkt perform” rating in a report on Tuesday, July 26th.
In other news, VP Michael G. Smelko sold 10,125 shares of Northwest Bancshares stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $14.98, for a total transaction of $151,672.50. Following the sale, the vice president now owns 72,171 shares of the company’s stock, valued at approximately $1,081,121.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.50% of the company’s stock.
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