Vanguard Group Inc. Cuts Stake in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Vanguard Group Inc. lowered its position in shares of Northwest Bancshares, Inc. (NASDAQ:NWBIFree Report) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,904,664 shares of the savings and loans company’s stock after selling 85,317 shares during the quarter. Vanguard Group Inc. owned approximately 11.73% of Northwest Bancshares worth $152,475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased its holdings in shares of Northwest Bancshares by 5.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 18,241 shares of the savings and loans company’s stock worth $187,000 after buying an additional 989 shares during the last quarter. HBK Sorce Advisory LLC lifted its stake in shares of Northwest Bancshares by 6.2% in the 3rd quarter. HBK Sorce Advisory LLC now owns 17,984 shares of the savings and loans company’s stock valued at $184,000 after purchasing an additional 1,042 shares during the last quarter. Van Hulzen Asset Management LLC grew its holdings in shares of Northwest Bancshares by 4.1% during the 3rd quarter. Van Hulzen Asset Management LLC now owns 30,700 shares of the savings and loans company’s stock worth $314,000 after purchasing an additional 1,200 shares during the period. Northwest Bancshares Inc. raised its holdings in Northwest Bancshares by 0.4% in the 3rd quarter. Northwest Bancshares Inc. now owns 338,068 shares of the savings and loans company’s stock valued at $3,458,000 after buying an additional 1,211 shares during the period. Finally, Advisor Group Holdings Inc. lifted its position in Northwest Bancshares by 5.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 29,273 shares of the savings and loans company’s stock valued at $408,000 after buying an additional 1,620 shares during the last quarter. Hedge funds and other institutional investors own 66.32% of the company’s stock.

Insider Transactions at Northwest Bancshares

In related news, EVP Scott J. Watson bought 5,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was purchased at an average cost of $12.90 per share, with a total value of $64,500.00. Following the purchase, the executive vice president now directly owns 35,282 shares of the company’s stock, valued at approximately $455,137.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Northwest Bancshares Price Performance

NWBI opened at $11.40 on Tuesday. The stock’s 50-day moving average price is $11.72 and its 200 day moving average price is $11.41. Northwest Bancshares, Inc. has a 12-month low of $9.80 and a 12-month high of $13.07. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 10.75 and a beta of 0.60. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41.

Northwest Bancshares (NASDAQ:NWBIGet Free Report) last issued its quarterly earnings results on Monday, January 22nd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $186.56 million for the quarter, compared to analysts’ expectations of $133.06 million. Northwest Bancshares had a net margin of 19.23% and a return on equity of 9.21%. As a group, sell-side analysts expect that Northwest Bancshares, Inc. will post 0.95 earnings per share for the current year.

Northwest Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.02%. Northwest Bancshares’s dividend payout ratio (DPR) is 75.47%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Northwest Bancshares from $12.00 to $13.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 23rd.

Check Out Our Latest Stock Analysis on Northwest Bancshares

About Northwest Bancshares

(Free Report)

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

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