ExodusPoint Capital Management LP Acquires 85,806 Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI)

ExodusPoint Capital Management LP lifted its holdings in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 94.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,873 shares of the savings and loans company’s stock after purchasing an additional 85,806 shares during the quarter. ExodusPoint Capital Management LP owned 0.14% of Northwest Bancshares worth $2,128,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Money Concepts Capital Corp acquired a new stake in shares of Northwest Bancshares during the 4th quarter worth approximately $26,000. Compass Wealth Management LLC acquired a new stake in shares of Northwest Bancshares during the 4th quarter worth approximately $35,000. Spire Wealth Management boosted its position in shares of Northwest Bancshares by 86.5% during the 1st quarter. Spire Wealth Management now owns 3,059 shares of the savings and loans company’s stock worth $37,000 after acquiring an additional 1,419 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in shares of Northwest Bancshares during the 4th quarter worth approximately $46,000. Finally, Point72 Middle East FZE acquired a new stake in shares of Northwest Bancshares during the 4th quarter worth approximately $63,000. 65.21% of the stock is owned by institutional investors.

Insider Buying and Selling at Northwest Bancshares

In related news, EVP Scott J. Watson bought 5,000 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were purchased at an average price of $12.23 per share, for a total transaction of $61,150.00. Following the completion of the transaction, the executive vice president now directly owns 29,909 shares of the company’s stock, valued at approximately $365,787.07. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have purchased 8,027 shares of company stock worth $95,413 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Northwest Bancshares Stock Performance

Shares of Northwest Bancshares stock opened at $11.00 on Friday. Northwest Bancshares, Inc. has a fifty-two week low of $9.91 and a fifty-two week high of $15.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $1.40 billion, a P/E ratio of 10.19 and a beta of 0.58. The company’s 50 day moving average price is $11.36 and its two-hundred day moving average price is $11.73.

Northwest Bancshares (NASDAQ:NWBI) last issued its earnings results on Monday, July 24th. The savings and loans company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Northwest Bancshares had a net margin of 21.88% and a return on equity of 9.70%. The firm had revenue of $173.79 million for the quarter, compared to analyst estimates of $135.68 million. On average, equities analysts forecast that Northwest Bancshares, Inc. will post 1.01 earnings per share for the current fiscal year.

Northwest Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Thursday, August 3rd were given a $0.20 dividend. The ex-dividend date was Wednesday, August 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 7.27%. Northwest Bancshares’s dividend payout ratio is currently 74.07%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Northwest Bancshares in a research report on Thursday, August 17th. They set a “sell” rating on the stock.

About Northwest Bancshares

Northwest Bancshares, Inc operates as the bank 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.