Dean Investment Associates LLC increased its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 53.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 409,794 shares of the savings and loans company’s stock after buying an additional 142,635 shares during the quarter. Northwest Bancshares comprises approximately 1.0% of Dean Investment Associates LLC’s investment portfolio, making the stock its 21st biggest holding. Dean Investment Associates LLC’s holdings in Northwest Bancshares were worth $6,786,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in NWBI. BlackRock Inc. boosted its holdings in Northwest Bancshares by 4.3% in the fourth quarter. BlackRock Inc. now owns 13,113,000 shares of the savings and loans company’s stock valued at $219,380,000 after purchasing an additional 535,670 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Northwest Bancshares by 2.9% in the fourth quarter. Renaissance Technologies LLC now owns 2,611,900 shares of the savings and loans company’s stock valued at $43,697,000 after purchasing an additional 74,600 shares during the last quarter. First Trust Advisors LP boosted its holdings in Northwest Bancshares by 4.3% in the fourth quarter. First Trust Advisors LP now owns 1,707,652 shares of the savings and loans company’s stock valued at $28,569,000 after purchasing an additional 71,151 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Northwest Bancshares by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,485,459 shares of the savings and loans company’s stock valued at $24,852,000 after purchasing an additional 91,871 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Northwest Bancshares by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 1,254,060 shares of the savings and loans company’s stock valued at $20,979,000 after purchasing an additional 65,413 shares during the last quarter. 68.24% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on NWBI shares. BidaskClub raised shares of Northwest Bancshares from a “hold” rating to a “buy” rating in a report on Thursday, April 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $17.00 price target on shares of Northwest Bancshares in a report on Tuesday, February 27th. Zacks Investment Research lowered shares of Northwest Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Northwest Bancshares in a report on Tuesday, January 23rd.
In other Northwest Bancshares news, Director Philip M. Tredway sold 5,714 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $17.18, for a total value of $98,166.52. Following the completion of the transaction, the director now owns 21,888 shares in the company, valued at $376,035.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.20% of the company’s stock.
Shares of Northwest Bancshares stock opened at $16.95 on Monday. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 2.43 and a beta of 0.64. Northwest Bancshares, Inc. has a fifty-two week low of $14.95 and a fifty-two week high of $17.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.01 and a quick ratio of 1.01.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings data on Monday, April 23rd. The savings and loans company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $103.56 million during the quarter, compared to the consensus estimate of $106.47 million. Northwest Bancshares had a net margin of 21.53% and a return on equity of 7.78%. sell-side analysts predict that Northwest Bancshares, Inc. will post 1 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 17th. Shareholders of record on Thursday, May 3rd were given a $0.17 dividend. The ex-dividend date was Wednesday, May 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.01%. Northwest Bancshares’s dividend payout ratio (DPR) is currently 80.95%.
About Northwest Bancshares
Northwest Bancshares, Inc operates as a bank holding company for Northwest Savings Bank that offers various personal and business banking solutions in the United States. The company offers personal and business deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts.
Want to see what other hedge funds are holding NWBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northwest Bancshares, Inc. (NASDAQ:NWBI).
Receive News & Ratings for Northwest Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northwest Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.