Short Interest Update on Northwest Bancshares (NWBI)

Northwest Bancshares (NWBI) has 8,716,474 shares of shorts outstanding as on August 15, 2016, with 22 days left to cover or roll them over. On Jul 29, 2016, the open interest of short positions was 9,050,786 shares. The stock has a decent trading volume of 394,801 shares daily. The marginal decrease in the short positions is by -3.7%, which amounts to -334,312 shares. Short positions are 9.1% of the available float. The short interest information was released on Wednesday Aug 24th after the market close.

Northwest Bancshares (NASDAQ:NWBI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $15.27 and $15.23 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $15.32. The buying momentum continued till the end and the stock did not give up its gains. It closed at $15.31, notching a gain of 0.20% for the day. The total traded volume was 270,071 . The stock had closed at $15.28 on the previous day.


In a related news, The Securities and Exchange Commission has divulged that Smelko Michael G, officer (Exec. V.P., Chief Credit Off.) of Northwest Bancshares, Inc., had unloaded 10,125 shares at an average price of $14.98 in a transaction dated on August 1, 2016. The total value of the transaction was worth $151,673.

Northwest Bancshares, Inc. is a savings and loan holding company. The Companys 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. The Company operates through two segments: Community Banking and Consumer Finance. Its subsidiary, Northwest Bank, is a Pennsylvania-chartered stock savings bank. Northwest Bank is a community-oriented financial institution, offering personal and business banking solutions, investment management and trust services and insurance products. Through a wholly owned subsidiary, Northwest Consumer Discount Company, it also offers consumer finance loans. The Company provides banking services approximately through 182 branch locations and 297 automated teller machines (ATMs) in four states. It operates over 51 consumer finance offices in Pennsylvania, through its subsidiary, Northwest Consumer Discount Company.

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