Texas Permanent School Fund Corp Sells 3,320 Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI)

Texas Permanent School Fund Corp reduced its holdings in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 3.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 104,449 shares of the savings and loans company’s stock after selling 3,320 shares during the period. Texas Permanent School Fund Corp owned about 0.08% of Northwest Bancshares worth $1,107,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arizona State Retirement System increased its holdings in Northwest Bancshares by 2.8% during the 1st quarter. Arizona State Retirement System now owns 34,955 shares of the savings and loans company’s stock worth $421,000 after purchasing an additional 944 shares during the period. Steel Peak Wealth Management LLC increased its holdings in Northwest Bancshares by 8.2% during the 2nd quarter. Steel Peak Wealth Management LLC now owns 14,149 shares of the savings and loans company’s stock worth $150,000 after purchasing an additional 1,078 shares during the period. HBK Sorce Advisory LLC increased its holdings in Northwest Bancshares by 3.1% during the 1st quarter. HBK Sorce Advisory LLC now owns 36,156 shares of the savings and loans company’s stock worth $652,000 after purchasing an additional 1,100 shares during the period. Spire Wealth Management increased its holdings in 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 purchasing an additional 1,419 shares during the period. Finally, Advisor Group Holdings Inc. increased its holdings in 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 purchasing an additional 1,620 shares during the period. 65.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Northwest Bancshares news, EVP Jeffrey J. Maddigan bought 9,600 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were purchased at an average cost of $10.47 per share, for a total transaction of $100,512.00. Following the purchase, the executive vice president now directly owns 35,126 shares in the company, valued at $367,769.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Northwest Bancshares news, EVP Jeffrey J. Maddigan bought 9,600 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were purchased at an average cost of $10.47 per share, for a total transaction of $100,512.00. Following the purchase, the executive vice president now directly owns 35,126 shares in the company, valued at $367,769.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Devin T. Cygnar bought 13,692 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were acquired at an average price of $10.96 per share, for a total transaction of $150,064.32. Following the completion of the purchase, the executive vice president now owns 13,692 shares in the company, valued at $150,064.32. The disclosure for this purchase can be found here. Insiders have acquired a total of 24,644 shares of company stock worth $265,543 in the last ninety days. 1.10% of the stock is owned by insiders.

Northwest Bancshares Trading Up 0.4 %

Shares of NASDAQ:NWBI opened at $11.25 on Monday. Northwest Bancshares, Inc. has a 12-month low of $9.80 and a 12-month high of $15.35. The business’s fifty day simple moving average is $10.48 and its 200-day simple moving average is $10.93. The company has a market capitalization of $1.43 billion, a PE ratio of 10.23 and a beta of 0.59. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.57.

Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings results on Monday, October 23rd. The savings and loans company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. Northwest Bancshares had a return on equity of 9.76% and a net margin of 20.96%. The business had revenue of $182.49 million for the quarter, compared to the consensus estimate of $135.31 million. As a group, equities research analysts predict that Northwest Bancshares, Inc. will post 1.09 earnings per share for the current fiscal year.

Northwest Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Thursday, November 2nd were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, November 1st. This represents a $0.80 annualized dividend and a yield of 7.11%. Northwest Bancshares’s dividend payout ratio (DPR) is 72.73%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Northwest Bancshares in a report on Thursday, October 5th. They set a “sell” rating on the stock.

Northwest Bancshares Company Profile

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.