Wipfli Financial Advisors LLC Makes New $35,000 Investment in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Wipfli Financial Advisors LLC bought a new stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBIGet Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,572 shares of the savings and loans company’s stock, valued at approximately $35,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp boosted its stake in Northwest Bancshares by 59.4% during the first quarter. State Street Corp now owns 8,048,444 shares of the savings and loans company’s stock worth $108,734,000 after acquiring an additional 2,999,249 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Northwest Bancshares by 119.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,943,536 shares of the savings and loans company’s stock worth $37,677,000 after purchasing an additional 1,602,123 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Northwest Bancshares by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,116,084 shares of the savings and loans company’s stock worth $109,649,000 after buying an additional 328,495 shares during the last quarter. Invesco Ltd. increased its position in Northwest Bancshares by 8.7% during the 1st quarter. Invesco Ltd. now owns 3,966,563 shares of the savings and loans company’s stock valued at $53,588,000 after buying an additional 316,431 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Northwest Bancshares by 2.1% during the first quarter. Vanguard Group Inc. now owns 13,896,726 shares of the savings and loans company’s stock valued at $187,745,000 after buying an additional 284,414 shares during the last quarter. 64.62% of the stock is owned by hedge funds and other institutional investors.

Northwest Bancshares Trading Down 3.0 %

Northwest Bancshares stock opened at $13.77 on Thursday. Northwest Bancshares, Inc. has a one year low of $12.04 and a one year high of $15.35. The business’s fifty day moving average is $14.41 and its 200 day moving average is $14.16. The stock has a market capitalization of $1.75 billion, a PE ratio of 13.63 and a beta of 0.60. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.91.

Northwest Bancshares (NASDAQ:NWBIGet Rating) last announced its quarterly earnings results on Monday, October 24th. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Northwest Bancshares had a net margin of 24.18% and a return on equity of 8.52%. The company had revenue of $139.55 million for the quarter, compared to analysts’ expectations of $137.99 million. On average, sell-side analysts predict that Northwest Bancshares, Inc. will post 1.1 EPS for the current year.

Northwest Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Thursday, November 3rd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date of this dividend was Wednesday, November 2nd. Northwest Bancshares’s dividend payout ratio (DPR) is presently 79.21%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NWBI. Janney Montgomery Scott started coverage on Northwest Bancshares in a research note on Thursday, September 29th. They issued a “neutral” rating and a $15.00 target price on the stock. StockNews.com started coverage on shares of Northwest Bancshares in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Piper Sandler dropped their target price on shares of Northwest Bancshares to $12.00 in a research note on Wednesday, October 5th.

Insider Buying and Selling at Northwest Bancshares

In other news, 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 value of $363,038.40. Following the transaction, the director now directly owns 25,046 shares in the company, valued at approximately $371,432.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Thomas K. Iv Creal sold 4,097 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 24,289 shares in the company, valued at $367,249.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy B. Fannin sold 24,480 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 25,046 shares in the company, valued at $371,432.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,154 shares of company stock worth $869,836. Insiders own 1.00% of the company’s stock.

Northwest Bancshares Company 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.

See Also

Want to see what other hedge funds are holding NWBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northwest Bancshares, Inc. (NASDAQ:NWBIGet Rating).

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

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