Russell Investments Group Ltd. raised its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 26.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 192,484 shares of the savings and loans company’s stock after acquiring an additional 40,107 shares during the quarter. Russell Investments Group Ltd.’s holdings in Northwest Bancshares were worth $3,361,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NWBI. CWM LLC purchased a new stake in shares of Northwest Bancshares during the 2nd quarter valued at $38,000. Resources Investment Advisors Inc. raised its stake in Northwest Bancshares by 23.8% in the 1st quarter. Resources Investment Advisors Inc. now owns 4,566 shares of the savings and loans company’s stock worth $77,000 after acquiring an additional 879 shares during the last quarter. NEXT Financial Group Inc raised its stake in Northwest Bancshares by 6,628.0% in the 2nd quarter. NEXT Financial Group Inc now owns 6,728 shares of the savings and loans company’s stock worth $118,000 after acquiring an additional 6,628 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Northwest Bancshares in the 1st quarter worth $146,000. Finally, Coastal Investment Advisors Inc. raised its stake in Northwest Bancshares by 316.9% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 8,271 shares of the savings and loans company’s stock worth $147,000 after acquiring an additional 6,287 shares during the last quarter. 70.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:NWBI traded down $0.19 during trading on Monday, reaching $16.55. 71,888 shares of the company’s stock traded hands, compared to its average volume of 392,186. Northwest Bancshares, Inc. has a fifty-two week low of $15.46 and a fifty-two week high of $18.81. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.79 billion, a PE ratio of 16.23, a P/E/G ratio of 2.30 and a beta of 0.68. The company has a 50-day simple moving average of $16.37 and a 200-day simple moving average of $17.07.
A number of brokerages recently issued reports on NWBI. Zacks Investment Research lowered Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. BidaskClub upgraded Northwest Bancshares from a “strong sell” rating to a “sell” rating in a research note on Thursday. Finally, Boenning Scattergood reiterated a “neutral” rating on shares of Northwest Bancshares in a research note on Thursday, June 20th.
Northwest Bancshares Company Profile
Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.
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