Northwest Bancshares Inc. (NWBI) Short Interest Down 20.6% in August

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Northwest Bancshares Inc. (NASDAQ:NWBI) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 6,918,569 shares, a drop of 20.6% from the August 15th total of 8,716,474 shares. Based on an average trading volume of 373,451 shares, the short-interest ratio is currently 18.5 days. Approximately 7.3% of the company’s stock are sold short.
Shares of Northwest Bancshares (NASDAQ:NWBI) opened at 15.20 on Thursday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 37.25 and a beta of 0.49. Northwest Bancshares has a 1-year low of $11.78 and a 1-year high of $15.69. The firm’s 50-day moving average is $15.22 and its 200-day moving average is $14.37.
Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings results on Monday, July 25th. The company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.27. Northwest Bancshares had a return on equity of 6.16% and a net margin of 9.62%. Analysts forecast that Northwest Bancshares will post $0.58 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Tuesday, August 2nd. Northwest Bancshares’s payout ratio is presently 150.00%.
A number of brokerages recently issued reports on NWBI. Zacks Investment Research cut shares of Northwest Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 29th. FBR & Co lifted their price target on shares of Northwest Bancshares from $14.00 to $15.00 and gave the company a “mkt perform” rating in a research report on Tuesday, July 26th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Northwest Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Tuesday.
In related news, VP Michael G. Smelko sold 10,125 shares of Northwest Bancshares stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $14.98, for a total transaction of $151,672.50. Following the completion of the transaction, the vice president now directly owns 72,171 shares of the company’s stock, valued at approximately $1,081,121.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NWBI. Norges Bank bought a new position in Northwest Bancshares during the fourth quarter worth approximately $11,767,000. ST Germain D J Co. Inc. boosted its position in shares of Northwest Bancshares by 0.5% in the first quarter. ST Germain D J Co. Inc. now owns 233,116 shares of the company’s stock valued at $3,149,000 after buying an additional 1,205 shares during the last quarter. Commonwealth Equity Services Inc boosted its position in shares of Northwest Bancshares by 3.7% in the first quarter. Commonwealth Equity Services Inc now owns 19,987 shares of the company’s stock valued at $270,000 after buying an additional 713 shares during the last quarter. Ramsey Quantitative Systems boosted its position in shares of Northwest Bancshares by 5.5% in the first quarter. Ramsey Quantitative Systems now owns 46,853 shares of the company’s stock valued at $633,000 after buying an additional 2,429 shares during the last quarter. Finally, CIBC World Markets Inc. boosted its position in shares of Northwest Bancshares by 43.3% in the first quarter. CIBC World Markets Inc. now owns 21,846 shares of the company’s stock valued at $295,000 after buying an additional 6,604 shares during the last quarter. Hedge funds and other institutional investors own 65.74% of the company’s stock.
Northwest Bancshares Company Profile
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 subsidiary, Northwest Bank, is a Pennsylvania-chartered stock savings bank.

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