Bank of America Corp DE boosted its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 13.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 394,988 shares of the savings and loans company’s stock after buying an additional 48,028 shares during the period. Bank of America Corp DE owned 0.39% of Northwest Bancshares worth $6,652,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Northwest Bancshares by 52,513.7% in the first quarter. BlackRock Inc. now owns 12,529,950 shares of the savings and loans company’s stock valued at $211,005,000 after buying an additional 12,506,135 shares during the period. Norges Bank acquired a new stake in shares of Northwest Bancshares during the fourth quarter valued at about $19,609,000. Vanguard Group Inc. raised its stake in shares of Northwest Bancshares by 5.5% in the first quarter. Vanguard Group Inc. now owns 9,155,426 shares of the savings and loans company’s stock valued at $154,177,000 after buying an additional 478,726 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Northwest Bancshares by 27.1% in the first quarter. First Trust Advisors LP now owns 1,347,573 shares of the savings and loans company’s stock valued at $22,693,000 after buying an additional 287,341 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Northwest Bancshares by 151.7% in the first quarter. KBC Group NV now owns 416,465 shares of the savings and loans company’s stock valued at $7,013,000 after buying an additional 251,023 shares in the last quarter. Institutional investors own 66.26% of the company’s stock.
Northwest Bancshares, Inc. (NASDAQ:NWBI) traded down 0.37% during trading on Monday, hitting $16.04. The stock had a trading volume of 142,052 shares. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 18.69 and a beta of 0.63. Northwest Bancshares, Inc. has a 12 month low of $14.85 and a 12 month high of $19.10. The stock has a 50 day moving average price of $15.72 and a 200-day moving average price of $16.48.
Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Monday, July 24th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Northwest Bancshares had a net margin of 18.91% and a return on equity of 7.45%. The company had revenue of $124.21 million during the quarter, compared to analysts’ expectations of $116.82 million. On average, equities analysts predict that Northwest Bancshares, Inc. will post $0.93 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, August 1st. This represents a $0.64 annualized dividend and a dividend yield of 3.98%. Northwest Bancshares’s dividend payout ratio is presently 75.29%.
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Several equities research analysts recently weighed in on the company. BidaskClub upgraded Northwest Bancshares from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Zacks Investment Research downgraded Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, ValuEngine downgraded Northwest Bancshares from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research report on Thursday, May 11th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $16.60.
In other news, Director Philip M. Tredway sold 13,560 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $16.13, for a total transaction of $218,722.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by insiders.
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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