Illinois Municipal Retirement Fund Has $874,000 Stock Holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Illinois Municipal Retirement Fund trimmed its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,996 shares of the savings and loans company’s stock after selling 2,815 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Northwest Bancshares were worth $874,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in Northwest Bancshares by 164.6% in the 4th quarter. CWM LLC now owns 4,918 shares of the savings and loans company’s stock valued at $61,000 after buying an additional 3,059 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Northwest Bancshares by 1,148.0% during the 4th quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loans company’s stock valued at $64,000 after acquiring an additional 4,684 shares during the period. Kestra Private Wealth Services LLC bought a new stake in shares of Northwest Bancshares during the 3rd quarter valued at $125,000. First Merchants Corp bought a new stake in shares of Northwest Bancshares during the 4th quarter valued at $126,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Northwest Bancshares by 30.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 15,752 shares of the savings and loans company’s stock valued at $161,000 after acquiring an additional 3,688 shares during the period. 66.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NWBI shares. Piper Sandler cut their target price on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, April 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $12.00 target price (down previously from $13.00) on shares of Northwest Bancshares in a report on Tuesday, April 23rd.

Northwest Bancshares Trading Down 0.6 %

Shares of NWBI stock opened at $10.82 on Monday. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 10.50 and a beta of 0.60. The stock has a 50-day moving average of $11.25 and a 200-day moving average of $11.51. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. Northwest Bancshares, Inc. has a 1-year low of $9.80 and a 1-year high of $13.07.

Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. The company had revenue of $188.20 million during the quarter, compared to analysts’ expectations of $132.80 million. Northwest Bancshares had a return on equity of 8.77% and a net margin of 17.84%. On average, equities research analysts forecast that Northwest Bancshares, Inc. will post 0.92 earnings per share for the current year.

Northwest Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, May 2nd will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 1st. This represents a $0.80 annualized dividend and a yield of 7.39%. Northwest Bancshares’s dividend payout ratio is currently 77.67%.

Northwest Bancshares 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.