Natixis Advisors L.P. boosted its stake in Northwest Bancshares, Inc. (NASDAQ:NWBI – Free Report) by 79.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,979 shares of the savings and loans company’s stock after purchasing an additional 22,097 shares during the quarter. Natixis Advisors L.P.’s holdings in Northwest Bancshares were worth $601,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Commonwealth Equity Services LLC lifted its holdings in shares of Northwest Bancshares by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 40,300 shares of the savings and loans company’s stock worth $563,000 after acquiring an additional 882 shares during the period. Arizona State Retirement System boosted its holdings in shares of Northwest Bancshares by 2.8% in the 1st quarter. Arizona State Retirement System now owns 34,955 shares of the savings and loans company’s stock valued at $421,000 after purchasing an additional 944 shares in the last quarter. Spire Wealth Management increased its stake in shares of Northwest Bancshares by 86.5% in the 1st quarter. Spire Wealth Management now owns 3,059 shares of the savings and loans company’s stock valued at $37,000 after purchasing an additional 1,419 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Northwest Bancshares by 5.9% during the 4th quarter. Advisor Group Holdings Inc. now owns 29,273 shares of the savings and loans company’s stock worth $408,000 after buying an additional 1,620 shares in the last quarter. Finally, Toroso Investments LLC lifted its position in shares of Northwest Bancshares by 12.5% during the 1st quarter. Toroso Investments LLC now owns 15,585 shares of the savings and loans company’s stock worth $211,000 after buying an additional 1,728 shares during the last quarter. Institutional investors own 65.21% of the company’s stock.
In other news, EVP Scott J. Watson purchased 5,000 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were acquired at an average price of $12.23 per share, for a total transaction of $61,150.00. Following the completion of the acquisition, the executive vice president now owns 29,909 shares in the company, valued at $365,787.07. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders bought a total of 8,027 shares of company stock worth $95,413 in the last three months. Company insiders own 1.10% of the company’s stock.
Analysts Set New Price Targets
Northwest Bancshares Stock Performance
Shares of NWBI stock opened at $10.69 on Thursday. The business’s 50-day moving average price is $11.40 and its 200-day moving average price is $11.63. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 9.90 and a beta of 0.59. Northwest Bancshares, Inc. has a 12 month low of $9.91 and a 12 month high of $15.35. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.58.
Northwest Bancshares (NASDAQ:NWBI – Get Free Report) last issued its quarterly earnings results on Monday, July 24th. The savings and loans company reported $0.27 EPS 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 business had revenue of $173.79 million for the quarter, compared to analysts’ expectations of $135.68 million. Equities research analysts forecast that Northwest Bancshares, Inc. will post 1.01 EPS for the current year.
Northwest Bancshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Thursday, August 3rd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $0.80 annualized dividend and a dividend yield of 7.48%. Northwest Bancshares’s dividend payout ratio is currently 74.07%.
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.
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