Norges Bank Makes New $7.11 Million Investment in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Norges Bank acquired a new position in Northwest Bancshares, Inc. (NASDAQ:NWBIFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 569,454 shares of the savings and loans company’s stock, valued at approximately $7,107,000. Norges Bank owned 0.45% of Northwest Bancshares as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Northwest Bancshares by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,581,520 shares of the savings and loans company’s stock valued at $44,697,000 after purchasing an additional 78,513 shares during the period. Invesco Ltd. raised its position in shares of Northwest Bancshares by 4.9% in the third quarter. Invesco Ltd. now owns 4,917,212 shares of the savings and loans company’s stock valued at $50,303,000 after purchasing an additional 230,058 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Northwest Bancshares by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,712,088 shares of the savings and loans company’s stock valued at $108,729,000 after purchasing an additional 90,425 shares during the period. Panagora Asset Management Inc. bought a new stake in shares of Northwest Bancshares in the fourth quarter valued at approximately $1,051,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Northwest Bancshares by 12.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,452 shares of the savings and loans company’s stock valued at $318,000 after purchasing an additional 2,852 shares during the period. Institutional investors own 66.32% of the company’s stock.

Insiders Place Their Bets

In related news, Director Timothy M. Hunter purchased 10,000 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was acquired at an average price of $11.30 per share, with a total value of $113,000.00. Following the purchase, the director now directly owns 161,474 shares in the company, valued at $1,824,656.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Timothy M. Hunter purchased 10,000 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was acquired at an average price of $11.30 per share, with a total value of $113,000.00. Following the purchase, the director now directly owns 161,474 shares in the company, valued at $1,824,656.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Devin T. Cygnar sold 3,843 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $11.08, for a total transaction of $42,580.44. Following the completion of the sale, the executive vice president now directly owns 11,823 shares of the company’s stock, valued at approximately $130,998.84. The disclosure for this sale can be found here. Insiders sold a total of 4,970 shares of company stock valued at $54,863 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reissued 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 decreased 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.

Read Our Latest Research Report on Northwest Bancshares

Northwest Bancshares Stock Performance

Northwest Bancshares stock opened at $10.88 on Friday. The firm’s 50 day simple moving average is $11.03 and its 200 day simple moving average is $11.58. 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 firm has a market capitalization of $1.38 billion, a PE ratio of 10.56 and a beta of 0.64. Northwest Bancshares, Inc. has a 1-year low of $9.80 and a 1-year high of $13.07.

Northwest Bancshares (NASDAQ:NWBIGet Free Report) last posted its earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. The business had revenue of $188.20 million for the quarter, compared to analyst estimates of $132.80 million. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.77%. As a group, analysts expect that Northwest Bancshares, Inc. will post 0.92 earnings per share for the current fiscal year.

Northwest Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, May 2nd were paid a $0.20 dividend. The ex-dividend date was Wednesday, May 1st. This represents a $0.80 dividend on an annualized basis and a yield of 7.35%. Northwest Bancshares’s dividend payout ratio is presently 77.67%.

Northwest Bancshares Profile

(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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