Acadian Asset Management LLC lifted its position in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 791,945 shares of the savings and loans company’s stock after purchasing an additional 87,773 shares during the period. Acadian Asset Management LLC owned about 0.77% of Northwest Bancshares worth $13,250,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of NWBI. Schwab Charles Investment Management Inc. lifted its position in shares of Northwest Bancshares by 4.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 641,423 shares of the savings and loans company’s stock worth $10,013,000 after purchasing an additional 27,714 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Northwest Bancshares by 32.9% during the second quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock worth $133,000 after purchasing an additional 2,112 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in Northwest Bancshares by 53.9% in the second quarter. Riverhead Capital Management LLC now owns 10,160 shares of the savings and loans company’s stock valued at $159,000 after acquiring an additional 3,560 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in Northwest Bancshares by 18.9% in the second quarter. TIAA CREF Investment Management LLC now owns 307,037 shares of the savings and loans company’s stock valued at $4,793,000 after acquiring an additional 48,869 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Northwest Bancshares by 10.2% in the second quarter. Ameriprise Financial Inc. now owns 720,925 shares of the savings and loans company’s stock valued at $11,253,000 after acquiring an additional 66,765 shares in the last quarter. 65.19% of the stock is currently owned by institutional investors and hedge funds.
NWBI has been the topic of several recent analyst reports. Boenning Scattergood reaffirmed a “hold” rating on shares of Northwest Bancshares in a report on Tuesday, October 24th. Zacks Investment Research cut shares of Northwest Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, October 26th. Finally, BidaskClub cut shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Five analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $17.25.
Northwest Bancshares, Inc. (NWBI) traded up $0.29 during mid-day trading on Wednesday, reaching $16.97. 424,214 shares of the company’s stock traded hands, compared to its average volume of 566,214. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.18. Northwest Bancshares, Inc. has a 12-month low of $14.95 and a 12-month high of $18.63. The company has a market capitalization of $1,740.00, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.61 and a beta of 0.64.
Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Monday, January 22nd. The savings and loans company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. Northwest Bancshares had a net margin of 20.11% and a return on equity of 7.23%. The firm had revenue of $107.15 million during the quarter, compared to analyst estimates of $108.15 million. equities research analysts predict that Northwest Bancshares, Inc. will post 1.03 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be paid a dividend of $0.17 per share. This is a positive change from Northwest Bancshares’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.68 annualized dividend and a yield of 4.01%. Northwest Bancshares’s payout ratio is presently 73.91%.
In other Northwest Bancshares news, EVP Gerald J. Ritzert sold 10,800 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $16.57, for a total transaction of $178,956.00. Following the completion of the sale, the executive vice president now owns 45,857 shares in the company, valued at $759,850.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO William W. Harvey sold 10,000 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $17.28, for a total transaction of $172,800.00. Following the transaction, the chief financial officer now owns 158,649 shares of the company’s stock, valued at approximately $2,741,454.72. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 9,300 shares of company stock valued at $152,330 and have sold 50,964 shares valued at $859,911. 2.00% of the stock is owned by insiders.
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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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