Northwest Bancshares, Inc. (NASDAQ:NWBI) Shares Sold by Comerica Bank

Comerica Bank lessened its position in Northwest Bancshares, Inc. (NASDAQ:NWBIGet Rating) by 10.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 96,956 shares of the savings and loans company’s stock after selling 10,910 shares during the period. Comerica Bank’s holdings in Northwest Bancshares were worth $1,369,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NWBI. State Street Corp raised its position in shares of Northwest Bancshares by 59.4% in the first quarter. State Street Corp now owns 8,048,444 shares of the savings and loans company’s stock valued at $108,734,000 after buying an additional 2,999,249 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Northwest Bancshares by 119.4% in the second quarter. Victory Capital Management Inc. now owns 2,943,536 shares of the savings and loans company’s stock valued at $37,677,000 after purchasing an additional 1,602,123 shares during the period. Dimensional Fund Advisors LP grew its holdings in Northwest Bancshares by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 8,116,084 shares of the savings and loans company’s stock valued at $109,649,000 after purchasing an additional 328,495 shares during the period. Invesco Ltd. grew its holdings in Northwest Bancshares by 8.7% in the first quarter. Invesco Ltd. now owns 3,966,563 shares of the savings and loans company’s stock valued at $53,588,000 after purchasing an additional 316,431 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Northwest Bancshares by 2.1% in the first quarter. Vanguard Group Inc. now owns 13,896,726 shares of the savings and loans company’s stock valued at $187,745,000 after purchasing an additional 284,414 shares during the period. Institutional investors and hedge funds own 64.62% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NWBI. Piper Sandler lowered their target price on shares of Northwest Bancshares to $12.00 in a report on Wednesday, October 5th. Janney Montgomery Scott began coverage on shares of Northwest Bancshares in a report on Thursday, September 29th. They issued a “neutral” rating and a $15.00 target price for the company. Finally, StockNews.com assumed coverage on shares of Northwest Bancshares in a report on Wednesday, October 12th. They issued a “hold” rating for the company.

Northwest Bancshares Price Performance

NWBI opened at $13.81 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. Northwest Bancshares, Inc. has a 52-week low of $12.04 and a 52-week high of $15.35. The company has a 50 day moving average of $14.36 and a two-hundred day moving average of $14.18. The company has a market cap of $1.75 billion, a P/E ratio of 13.67 and a beta of 0.60.

Northwest Bancshares (NASDAQ:NWBIGet Rating) last released its quarterly earnings data on Monday, October 24th. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Northwest Bancshares had a return on equity of 8.52% and a net margin of 24.18%. The business had revenue of $139.55 million for the quarter, compared to analysts’ expectations of $137.99 million. On average, analysts expect that Northwest Bancshares, Inc. will post 1.1 earnings per share for the current year.

Insiders Place Their Bets

In other Northwest Bancshares news, CFO William W. Harvey sold 28,252 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $15.04, for a total transaction of $424,910.08. Following the completion of the sale, the chief financial officer now directly owns 191,895 shares in the company, valued at $2,886,100.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO William W. Harvey sold 28,252 shares of the company’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $15.04, for a total value of $424,910.08. Following the completion of the transaction, the chief financial officer now directly owns 191,895 shares in the company, valued at $2,886,100.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy B. Fannin sold 24,480 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $14.83, for a total transaction of $363,038.40. Following the completion of the transaction, the director now owns 25,046 shares of the company’s stock, valued at $371,432.18. The disclosure for this sale can be found here. Insiders sold a total of 58,154 shares of company stock worth $869,836 over the last ninety days. 1.00% of the stock is owned by company insiders.

Northwest Bancshares Company Profile

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Northwest Bancshares, Inc operates as the holding company for Northwest Bank, a state-chartered savings bank that provides personal and business banking solutions. The company accepts various deposits, including checking, savings, money market deposit, term certificate, and individual retirement accounts.

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Institutional Ownership by Quarter for Northwest Bancshares (NASDAQ:NWBI)

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