Minerva Advisors LLC held its position in shares of Northwest Bancshares Inc. (NASDAQ:NWBI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,625 shares of the company’s stock at the end of the second quarter. Minerva Advisors LLC’s holdings in Northwest Bancshares were worth $1,091,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Northwest Bancshares by 68.9% in the first quarter. BlackRock Inc. now owns 9,827 shares of the company’s stock valued at $133,000 after buying an additional 4,009 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Northwest Bancshares during the second quarter valued at approximately $164,000. Fox Run Management L.L.C. acquired a new stake in Northwest Bancshares during the second quarter valued at approximately $178,000. Nisa Investment Advisors LLC increased its stake in Northwest Bancshares by 3.5% in the second quarter. Nisa Investment Advisors LLC now owns 13,350 shares of the company’s stock valued at $198,000 after buying an additional 450 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in Northwest Bancshares by 5.5% in the first quarter. Royal Bank of Canada now owns 19,810 shares of the company’s stock valued at $267,000 after buying an additional 1,030 shares during the last quarter. Hedge funds and other institutional investors own 65.74% of the company’s stock.
Shares of Northwest Bancshares Inc. (NASDAQ:NWBI) traded down 0.45% on Friday, reaching $15.63. The company’s stock had a trading volume of 211,377 shares. The firm has a 50 day moving average price of $15.48 and a 200-day moving average price of $14.63. Northwest Bancshares Inc. has a 12-month low of $11.78 and a 12-month high of $15.79. The stock has a market cap of $1.60 billion, a PE ratio of 38.31 and a beta of 0.53.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings data on Monday, July 25th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by $0.27. Northwest Bancshares had a return on equity of 6.16% and a net margin of 9.62%. Equities research analysts expect that Northwest Bancshares Inc. will post $0.58 EPS for the current year.
NWBI has been the subject of several research analyst reports. Zacks Investment Research upgraded Northwest Bancshares from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a report on Thursday, July 28th. Keefe, Bruyette & Woods lifted their price objective 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 lifted their price objective 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 related news, VP Michael G. Smelko sold 10,125 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $14.98, for a total transaction of $151,672.50. Following the completion of the sale, the vice president now directly owns 72,171 shares in the company, valued at approximately $1,081,121.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.
Northwest Bancshares Company Profile
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 subsidiary, Northwest Bank, is a Pennsylvania-chartered stock savings bank.