Bank of America Corp DE raised its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 13.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 approximately 0.39% of Northwest Bancshares worth $6,652,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Schwab Charles Investment Management Inc. raised its position in shares of Northwest Bancshares by 7.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 613,709 shares of the savings and loans company’s stock worth $10,335,000 after buying an additional 41,510 shares during the period. KCG Holdings Inc. raised its position in shares of Northwest Bancshares by 65.8% in the first quarter. KCG Holdings Inc. now owns 28,871 shares of the savings and loans company’s stock worth $486,000 after buying an additional 11,455 shares during the period. BlackRock Inc. raised 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 worth $211,005,000 after buying an additional 12,506,135 shares during the period. Renaissance Technologies LLC raised its position in shares of Northwest Bancshares by 5.2% in the first quarter. Renaissance Technologies LLC now owns 2,068,400 shares of the savings and loans company’s stock worth $34,832,000 after buying an additional 101,700 shares during the period. Finally, Citadel Advisors LLC raised its position in shares of Northwest Bancshares by 44.2% in the first quarter. Citadel Advisors LLC now owns 90,692 shares of the savings and loans company’s stock worth $1,527,000 after buying an additional 27,796 shares during the period. 64.85% of the stock is owned by institutional investors and hedge funds.
Northwest Bancshares, Inc. (NASDAQ:NWBI) traded down 0.411% during midday trading on Tuesday, reaching $15.755. The company’s stock had a trading volume of 159,345 shares. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 18.362 and a beta of 0.63. The firm has a 50-day moving average price of $15.73 and a 200 day moving average price of $16.39. Northwest Bancshares, Inc. has a 52-week low of $14.95 and a 52-week high of $19.10.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings results on Monday, July 24th. The savings and loans company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $124.21 million during 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 7.45%. Equities research analysts predict that Northwest Bancshares, Inc. will post $0.93 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Tuesday, August 1st. Northwest Bancshares’s dividend payout ratio is currently 75.29%.
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A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. BidaskClub lowered Northwest Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Finally, ValuEngine lowered Northwest Bancshares from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a report on Thursday, May 11th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $16.60.
In related news, Director Philip M. Tredway sold 13,560 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $16.13, for a total value of $218,722.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.00% of the company’s stock.
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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