Amalgamated Bank Acquires 12 Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI)

Amalgamated Bank raised its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 0.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 13,055 shares of the savings and loans company’s stock after buying an additional 12 shares during the period. Amalgamated Bank’s holdings in Northwest Bancshares were worth $220,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Glen Harbor Capital Management LLC boosted its position in shares of Northwest Bancshares by 3.1% in the first quarter. Glen Harbor Capital Management LLC now owns 5,936 shares of the savings and loans company’s stock worth $100,000 after buying an additional 176 shares in the last quarter. Tyers Asset Management LLC boosted its position in shares of Northwest Bancshares by 3.1% in the first quarter. Tyers Asset Management LLC now owns 8,162 shares of the savings and loans company’s stock worth $137,000 after buying an additional 242 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Northwest Bancshares during the first quarter worth about $140,000. Flinton Capital Management LLC boosted its position in shares of Northwest Bancshares by 3.1% in the first quarter. Flinton Capital Management LLC now owns 10,388 shares of the savings and loans company’s stock worth $175,000 after buying an additional 308 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Northwest Bancshares during the first quarter worth about $185,000. 66.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Northwest Bancshares, Inc. (NASDAQ NWBI) opened at 16.24 on Wednesday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 33.69 and a beta of 0.63. Northwest Bancshares, Inc. has a 52 week low of $14.65 and a 52 week high of $19.10. The firm has a 50 day moving average of $15.64 and a 200 day moving average of $16.57.

Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings results on Monday, July 24th. The savings and loans company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. The firm had revenue of $124.21 million for the quarter, compared to analyst estimates of $116.82 million. Northwest Bancshares had a net margin of 18.91% and a return on equity of 7.49%. Equities analysts predict that Northwest Bancshares, Inc. will post $0.84 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be given a $0.16 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $0.64 dividend on an annualized basis and a yield of 3.94%. Northwest Bancshares’s dividend payout ratio (DPR) is presently 75.29%.

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A number of equities analysts have issued reports on NWBI shares. ValuEngine cut shares of Northwest Bancshares from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a report on Thursday, May 11th. Zacks Investment Research upgraded shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, March 29th. Finally, BidaskClub upgraded shares of Northwest Bancshares from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $16.60.

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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Institutional Ownership by Quarter for Northwest Bancshares (NASDAQ:NWBI)




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