Huntington National Bank boosted its stake in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 76.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 15,470 shares of the savings and loans company’s stock after buying an additional 6,720 shares during the period. Huntington National Bank’s holdings in Northwest Bancshares were worth $242,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of NWBI. Aperio Group LLC boosted its stake in shares of Northwest Bancshares by 53.9% in the second quarter. Aperio Group LLC now owns 37,581 shares of the savings and loans company’s stock valued at $587,000 after buying an additional 13,166 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Northwest Bancshares by 79.1% in the second quarter. State of Alaska Department of Revenue now owns 20,131 shares of the savings and loans company’s stock valued at $314,000 after buying an additional 8,891 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC boosted its stake in shares of Northwest Bancshares by 99.6% in the second quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 45,700 shares of the savings and loans company’s stock valued at $713,000 after buying an additional 22,800 shares during the last quarter. State Street Corp boosted its stake in shares of Northwest Bancshares by 2.9% in the first quarter. State Street Corp now owns 2,423,794 shares of the savings and loans company’s stock valued at $40,816,000 after buying an additional 69,226 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Northwest Bancshares by 13.8% in the first quarter. Bank of America Corp DE now owns 394,988 shares of the savings and loans company’s stock valued at $6,652,000 after buying an additional 48,028 shares during the last quarter. 66.96% of the stock is currently owned by institutional investors.
Northwest Bancshares, Inc. (NASDAQ:NWBI) traded down 0.06% during midday trading on Friday, hitting $16.06. The stock had a trading volume of 320,872 shares. Northwest Bancshares, Inc. has a 52-week low of $14.65 and a 52-week high of $19.10. The stock has a market cap of $1.65 billion, a PE ratio of 18.72 and a beta of 0.63. The company’s 50 day moving average price is $15.73 and its 200-day moving average price is $16.53.
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, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The firm had revenue of $124.21 million during the quarter, compared to analyst estimates of $116.82 million. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%. Analysts forecast that Northwest Bancshares, Inc. will post $0.85 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Tuesday, August 1st. Northwest Bancshares’s payout ratio is 75.29%.
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A number of equities research analysts have recently commented on NWBI shares. Zacks Investment Research cut Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday. BidaskClub cut Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Finally, ValuEngine cut Northwest Bancshares from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a research note on Thursday, May 11th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price 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 stock was sold at an average price of $16.13, for a total value of $218,722.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.
Northwest Bancshares Company Profile
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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