State Street Corp. Updates Passive Stake in Northwest Bancshares
Ticker: NWBI · Form: SC 13G/A · Filed: Jan 24, 2024 · CIK: 1471265
| Field | Detail |
|---|---|
| Company | Northwest Bancshares, Inc. (NWBI) |
| Form Type | SC 13G/A |
| Filed Date | Jan 24, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**State Street still holds Northwest Bancshares stock, showing continued institutional confidence.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 24, 2024, indicating its ownership of Northwest Bancshares Inc. common stock as of December 31, 2023. This filing updates their previous disclosure, showing their continued passive investment in the bank. This matters to investors because State Street's significant, albeit passive, stake suggests institutional confidence in Northwest Bancshares, which could be a positive signal for the stock's stability.
Why It Matters
This filing confirms State Street Corporation's ongoing, passive investment in Northwest Bancshares Inc., signaling continued institutional interest in the company's stock.
Risk Assessment
Risk Level: low — This is a routine update from a passive institutional investor and does not indicate any immediate risk or significant change in company control.
Analyst Insight
Investors should view this as a routine update confirming institutional presence, not a signal for immediate buying or selling. It reinforces that Northwest Bancshares Inc. is on the radar of large financial institutions.
Key Numbers
- 12/31/2023 — Date of Event (The date as of which State Street Corporation's ownership is being reported.)
- 005-85266 — SEC File Number (The SEC file number for Northwest Bancshares, Inc.)
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Northwest Bancshares, Inc. (company) — the subject company whose common stock is being reported
- 0000093751-24-000178 (dollar_amount) — accession number for the filing
- December 31, 2023 (date) — date of event requiring the filing
- January 24, 2024 (date) — date the filing was made
- 667340103 (dollar_amount) — CUSIP number for Northwest Bancshares Inc. common stock
Forward-Looking Statements
- State Street Corporation will maintain its passive investment in Northwest Bancshares Inc. for the foreseeable future. (State Street Corporation) — high confidence, target: 12/31/2024
FAQ
What is the purpose of an SC 13G/A filing?
An SC 13G/A is an amendment to a Schedule 13G, which is filed by passive investors who own more than 5% but less than 20% of a company's stock. The '/A' indicates it's an amendment to a previously filed statement, updating the information, as seen in this filing by State Street Corporation regarding Northwest Bancshares Inc.
Who is the reporting person in this SC 13G/A filing?
The reporting person in this SC 13G/A filing is STATE STREET CORPORATION, as explicitly stated on page 2 of 5, item 1: 'NAME OF REPORTING PERSON: STATE STREET CORPORATION'.
What is the subject company whose securities are being reported?
The subject company is NORTHWEST BANCSHARES INC, as indicated in the 'NAME OF ISSUER' section on page 1 of the filing.
What type of securities are covered by this filing?
This filing covers 'COMMON STOCK' of Northwest Bancshares Inc., as specified under 'TITLE OF CLASS OF SECURITIES' on page 1 of the document.
What was the date of the event that required this filing?
The date of the event which required this filing was December 31, 2023, as stated on page 1 under 'DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT: 12/31/2023'.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 24, 2024 regarding Northwest Bancshares, Inc. (NWBI).