Northwest Bancshares, Inc. (NWBI) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 1.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 211,657 shares of the savings and loans company’s stock after buying an additional 2,383 shares during the period. PNC Financial Services Group Inc. owned approximately 0.21% of Northwest Bancshares worth $3,564,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Glen Harbor Capital Management LLC boosted its stake in shares of 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 worth $100,000 after buying an additional 176 shares during the period. Tyers Asset Management LLC boosted its stake in shares of 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 worth $137,000 after buying an additional 242 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of Northwest Bancshares during the first quarter worth approximately $140,000. Flinton Capital Management LLC boosted its stake in shares of 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 worth $175,000 after buying an additional 308 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Northwest Bancshares during the first quarter worth approximately $185,000. 67.27% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Northwest Bancshares, Inc. (NASDAQ NWBI) traded down 0.64% during trading on Friday, hitting $16.20. 1,170,429 shares of the stock traded hands. The company has a 50 day moving average price of $15.71 and a 200 day moving average price of $17.09. Northwest Bancshares, Inc. has a 12 month low of $13.91 and a 12 month high of $19.10. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 33.61 and a beta of 0.62.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Thursday, May 4th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Tuesday, May 2nd. Northwest Bancshares’s payout ratio is 133.33%.

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A number of analysts have commented on the stock. Zacks Investment Research raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, March 29th. BidaskClub raised shares of Northwest Bancshares from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. DA Davidson assumed coverage on shares of Northwest Bancshares in a research report on Monday, March 6th. They set a “neutral” rating and a $18.00 price target on the stock. Finally, ValuEngine cut shares of Northwest Bancshares from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research report on Thursday, May 11th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $16.60.

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.

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