Xact Kapitalforvaltning AB reduced its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 30.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,104 shares of the savings and loans company’s stock after selling 9,900 shares during the period. Xact Kapitalforvaltning AB’s holdings in Northwest Bancshares were worth $392,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. US Bancorp DE raised its stake in Northwest Bancshares by 118.1% during the 1st quarter. US Bancorp DE now owns 1,985 shares of the savings and loans company’s stock valued at $34,000 after buying an additional 1,075 shares during the last quarter. Bank of Montreal Can raised its stake in Northwest Bancshares by 13.9% during the 4th quarter. Bank of Montreal Can now owns 5,588 shares of the savings and loans company’s stock valued at $94,000 after buying an additional 683 shares during the last quarter. Sciencast Management LP purchased a new stake in Northwest Bancshares during the 1st quarter valued at $198,000. HRT Financial LLC purchased a new stake in Northwest Bancshares during the 4th quarter valued at $215,000. Finally, Magnus Financial Group LLC purchased a new stake in Northwest Bancshares during the 4th quarter valued at $303,000. Institutional investors own 72.10% of the company’s stock.
In other Northwest Bancshares news, Director Timothy M. Hunter acquired 4,000 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was purchased at an average price of $17.15 per share, with a total value of $68,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert M. Campana sold 11,000 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $17.03, for a total transaction of $187,330.00. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
NWBI traded up $0.01 during mid-day trading on Friday, reaching $17.11. 12,673 shares of the company traded hands, compared to its average volume of 262,353. The firm has a market cap of $1.77 billion, a PE ratio of 16.80, a P/E/G ratio of 2.22 and a beta of 0.68. 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 52-week low of $15.50 and a 52-week high of $18.81.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings data on Wednesday, April 17th. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Northwest Bancshares had a net margin of 22.08% and a return on equity of 8.48%. The business had revenue of $109.64 million for the quarter, compared to the consensus estimate of $110.59 million. During the same period in the previous year, the firm earned $0.24 EPS. The company’s revenue was up 5.9% on a year-over-year basis. As a group, research analysts forecast that Northwest Bancshares, Inc. will post 1.1 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Thursday, May 2nd were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Wednesday, May 1st. Northwest Bancshares’s payout ratio is 70.59%.
A number of equities research analysts have weighed in on NWBI shares. Zacks Investment Research lowered shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, February 19th. BidaskClub lowered shares of Northwest Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Boenning Scattergood reiterated a “neutral” rating on shares of Northwest Bancshares in a research note on Wednesday, April 17th.
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Northwest Bancshares Company Profile
Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.
Further Reading: Quiet Period
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