KBC Group NV lessened its holdings in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 19.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 123,927 shares of the savings and loans company’s stock after selling 30,245 shares during the period. KBC Group NV owned 0.12% of Northwest Bancshares worth $2,140,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio grew its position in shares of Northwest Bancshares by 2.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,284 shares of the savings and loans company’s stock valued at $114,000 after buying an additional 180 shares during the last quarter. SG Americas Securities LLC boosted its stake in Northwest Bancshares by 32.9% during the 2nd quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock valued at $133,000 after purchasing an additional 2,112 shares during the period. Shelton Capital Management acquired a new position in Northwest Bancshares during the 2nd quarter valued at about $158,000. Riverhead Capital Management LLC boosted its stake in Northwest Bancshares by 53.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 10,160 shares of the savings and loans company’s stock valued at $159,000 after purchasing an additional 3,560 shares during the period. Finally, Clinton Group Inc. acquired a new position in Northwest Bancshares during the 2nd quarter valued at about $160,000. 64.53% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the stock. Boenning Scattergood reissued a “hold” rating on shares of Northwest Bancshares in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $16.00 target price on shares of Northwest Bancshares in a research note on Sunday, October 8th. Finally, Zacks Investment Research lowered shares of Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Northwest Bancshares currently has a consensus rating of “Hold” and a consensus target price of $16.67.
In related news, Director Timothy M. Hunter purchased 2,000 shares of Northwest Bancshares stock in a transaction dated Thursday, December 7th. The stock was bought at an average cost of $16.75 per share, with a total value of $33,500.00. Following the purchase, the director now owns 15,100 shares in the company, valued at approximately $252,925. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO William W. Harvey sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $17.28, for a total transaction of $172,800.00. Following the completion of the sale, the chief financial officer now directly owns 158,649 shares of the company’s stock, valued at $2,741,454.72. The disclosure for this sale can be found here. Insiders have sold a total of 21,672 shares of company stock valued at $367,881 over the last three months. 2.00% of the stock is currently owned by company insiders.
Northwest Bancshares, Inc. (NWBI) opened at $16.66 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $1,709.66, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.97 and a beta of 0.63. Northwest Bancshares, Inc. has a one year low of $14.95 and a one year high of $19.10.
Northwest Bancshares (NASDAQ:NWBI) last posted its earnings results on Monday, October 23rd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $107.83 million during the quarter, compared to analyst estimates of $106.63 million. Northwest Bancshares had a net margin of 20.59% and a return on equity of 7.54%. equities research analysts predict that Northwest Bancshares, Inc. will post 0.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Thursday, November 2nd were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Wednesday, November 1st. Northwest Bancshares’s payout ratio is 68.09%.
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Northwest Bancshares Profile
Northwest Bancshares, Inc (Northwest) is a savings and loan holding company. The Company’s principal business consists of attracting deposits and making loans secured by various types of collateral, including real estate and other assets in the markets in which it operates. Its segments include Community Banking and Consumer Finance.
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