BlackRock Inc. lifted its stake in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 4.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,113,000 shares of the savings and loans company’s stock after acquiring an additional 535,670 shares during the quarter. BlackRock Inc. owned 12.77% of Northwest Bancshares worth $219,380,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of NWBI. Public Employees Retirement System of Ohio lifted its holdings in 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 worth $114,000 after buying an additional 180 shares in the last quarter. Aperio Group LLC lifted its holdings in Northwest Bancshares by 12.7% during the 3rd quarter. Aperio Group LLC now owns 42,358 shares of the savings and loans company’s stock worth $732,000 after buying an additional 4,777 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Northwest Bancshares during the 3rd quarter worth approximately $301,000. Victory Capital Management Inc. acquired a new stake in Northwest Bancshares during the 3rd quarter worth approximately $1,150,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Northwest Bancshares by 49.8% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 56,818 shares of the savings and loans company’s stock worth $981,000 after buying an additional 18,894 shares in the last quarter. Hedge funds and other institutional investors own 67.75% of the company’s stock.
In other Northwest Bancshares news, Director Philip M. Tredway sold 5,714 shares of the stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $17.18, for a total value of $98,166.52. Following the sale, the director now directly owns 21,888 shares of the company’s stock, valued at approximately $376,035.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gerald J. Ritzert sold 10,800 shares of the stock in a transaction that occurred 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 directly owns 45,857 shares in the company, valued at $759,850.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,371 shares of company stock worth $647,733. Insiders own 2.20% of the company’s stock.
Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at $17.10 on Friday. Northwest Bancshares, Inc. has a 52-week low of $14.95 and a 52-week high of $17.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $1,750.00, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 1.67 and a beta of 0.64.
Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Monday, January 22nd. The savings and loans company reported $0.22 EPS for the quarter, beating the Zacks’ 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 company had revenue of $107.15 million for the quarter, compared to the consensus estimate of $108.15 million. equities research analysts anticipate that Northwest Bancshares, Inc. will post 1.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were given a $0.17 dividend. The ex-dividend date was Wednesday, January 31st. This is an increase from Northwest Bancshares’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.98%. Northwest Bancshares’s dividend payout ratio is currently 76.40%.
NWBI has been the topic of a number of research reports. BidaskClub lowered shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Zacks Investment Research upgraded shares of Northwest Bancshares from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a report on Wednesday, January 3rd. Boenning Scattergood reissued a “hold” rating on shares of Northwest Bancshares in a research report on Tuesday, January 23rd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $17.00 price objective on shares of Northwest Bancshares in a research report on Tuesday, February 27th. Five research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus target price of $17.33.
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About Northwest Bancshares
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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