Bank of America Corp DE Has $1.73 Million Stock Holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Bank of America Corp DE cut its holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 27.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 98,190 shares of the savings and loans company’s stock after selling 37,536 shares during the quarter. Bank of America Corp DE owned approximately 0.09% of Northwest Bancshares worth $1,729,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Marshall Wace LLP acquired a new position in shares of Northwest Bancshares during the first quarter worth $1,997,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Northwest Bancshares during the first quarter worth $146,000. 6 Meridian lifted its position in shares of Northwest Bancshares by 2.7% during the second quarter. 6 Meridian now owns 27,233 shares of the savings and loans company’s stock worth $480,000 after purchasing an additional 725 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Northwest Bancshares by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 39,600 shares of the savings and loans company’s stock worth $695,000 after purchasing an additional 800 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Northwest Bancshares by 1.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 40,709 shares of the savings and loans company’s stock worth $717,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 70.83% of the company’s stock.

Shares of NASDAQ:NWBI opened at $17.48 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $16.41 and a 200 day simple moving average of $16.87. The firm has a market cap of $1.78 billion, a PE ratio of 17.13 and a beta of 0.68. Northwest Bancshares, Inc. has a 12-month low of $15.46 and a 12-month high of $18.81.

Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings results on Monday, October 21st. The savings and loans company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $117.11 million during the quarter, compared to analyst estimates of $116.30 million. Northwest Bancshares had a net margin of 21.50% and a return on equity of 8.31%. As a group, equities research analysts forecast that Northwest Bancshares, Inc. will post 1.03 EPS for the current fiscal year.

NWBI has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Northwest Bancshares from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research lowered shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd.

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

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