Victory Capital Management Inc. Increases Stock Holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Victory Capital Management Inc. raised its holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 1.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,001,622 shares of the savings and loans company’s stock after purchasing an additional 53,518 shares during the period. Victory Capital Management Inc.’s holdings in Northwest Bancshares were worth $37,460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. grew its position in Northwest Bancshares by 5.7% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 18,241 shares of the savings and loans company’s stock valued at $187,000 after acquiring an additional 989 shares in the last quarter. HBK Sorce Advisory LLC increased its stake in Northwest Bancshares by 6.2% during the 3rd quarter. HBK Sorce Advisory LLC now owns 17,984 shares of the savings and loans company’s stock worth $184,000 after buying an additional 1,042 shares during the period. Van Hulzen Asset Management LLC lifted its holdings in 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 buying an additional 1,200 shares in the last quarter. Northwest Bancshares Inc. boosted its position 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, Capital Investment Advisory Services LLC grew its stake in shares of Northwest Bancshares by 5.0% in the fourth quarter. Capital Investment Advisory Services LLC now owns 31,958 shares of the savings and loans company’s stock worth $399,000 after acquiring an additional 1,536 shares in the last quarter. 66.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NWBI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $12.00 price target (down previously from $13.00) on shares of Northwest Bancshares in a research report on Tuesday, April 23rd. Piper Sandler reduced their target price on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, April 23rd.

Northwest Bancshares Stock Up 0.4 %

Northwest Bancshares stock opened at $11.11 on Tuesday. Northwest Bancshares, Inc. has a twelve month low of $9.80 and a twelve month high of $13.07. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average of $11.16 and a two-hundred day moving average of $11.53. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 10.79 and a beta of 0.62.

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

Northwest Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, May 2nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date is Wednesday, May 1st. Northwest Bancshares’s dividend payout ratio is presently 77.67%.

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.