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

Comerica Bank cut its holdings in shares of Northwest Bancshares, Inc. (NASDAQ:NWBIGet Rating) by 10.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,956 shares of the savings and loans company’s stock after selling 10,910 shares during the quarter. Comerica Bank owned 0.08% of Northwest Bancshares worth $1,369,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NWBI. Wipfli Financial Advisors LLC acquired a new stake in Northwest Bancshares during the 3rd quarter worth approximately $35,000. SeaCrest Wealth Management LLC acquired a new stake in Northwest Bancshares during the 2nd quarter worth approximately $40,000. Captrust Financial Advisors lifted its holdings in Northwest Bancshares by 97.9% during the 1st quarter. Captrust Financial Advisors now owns 8,984 shares of the savings and loans company’s stock worth $121,000 after buying an additional 4,445 shares in the last quarter. Truist Financial Corp acquired a new stake in shares of Northwest Bancshares in the 3rd quarter valued at $137,000. Finally, Guggenheim Capital LLC acquired a new stake in shares of Northwest Bancshares in the 1st quarter valued at $155,000. 64.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NWBI has been the topic of a number of analyst reports. Piper Sandler reduced their price objective on shares of Northwest Bancshares to $12.00 in a report on Wednesday, October 5th. Janney Montgomery Scott initiated coverage on shares of Northwest Bancshares in a report on Thursday, September 29th. They issued a “neutral” rating and a $15.00 price objective on the stock. Finally, StockNews.com initiated coverage on shares of Northwest Bancshares in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Northwest Bancshares Price Performance

Shares of NASDAQ:NWBI opened at $13.81 on Monday. The company’s fifty day moving average price is $14.36 and its 200 day moving average price is $14.18. Northwest Bancshares, Inc. has a 12 month low of $12.04 and a 12 month high of $15.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $1.75 billion, a P/E ratio of 13.67 and a beta of 0.60.

Northwest Bancshares (NASDAQ:NWBIGet Rating) last announced its quarterly earnings results on Monday, October 24th. The savings and loans company reported $0.29 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 company had revenue of $139.55 million for the quarter, compared to analyst estimates of $137.99 million. As a group, sell-side analysts predict that Northwest Bancshares, Inc. will post 1.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Northwest Bancshares news, EVP Thomas K. Iv Creal sold 4,097 shares of the firm’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $15.12, for a total transaction of $61,946.64. Following the transaction, the executive vice president now directly owns 24,289 shares of the company’s stock, valued at approximately $367,249.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Northwest Bancshares news, EVP Thomas K. Iv Creal sold 4,097 shares of the firm’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $15.12, for a total transaction of $61,946.64. Following the transaction, the executive vice president now directly owns 24,289 shares of the company’s stock, valued at approximately $367,249.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy B. Fannin sold 24,480 shares of the firm’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $14.83, for a total transaction of $363,038.40. Following the transaction, the director now directly owns 25,046 shares in the company, valued at $371,432.18. The disclosure for this sale can be found here. Insiders have sold 58,154 shares of company stock worth $869,836 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

Northwest Bancshares 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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