GW Henssler & Associates Ltd. cut its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 12.7% during the second quarter, Holdings Channel reports. The fund owned 10,892 shares of the savings and loans company’s stock after selling 1,584 shares during the period. GW Henssler & Associates Ltd.’s holdings in Northwest Bancshares were worth $170,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in NWBI. Wesbanco Bank Inc. bought a new stake in shares of Northwest Bancshares during the first quarter valued at approximately $217,000. Wells Fargo & Company MN boosted its stake in shares of Northwest Bancshares by 2.2% in the first quarter. Wells Fargo & Company MN now owns 745,344 shares of the savings and loans company’s stock valued at $12,551,000 after buying an additional 15,771 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Northwest Bancshares by 1.7% in the first quarter. Arizona State Retirement System now owns 53,011 shares of the savings and loans company’s stock valued at $893,000 after buying an additional 900 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Northwest Bancshares by 3.4% in the first quarter. Ameriprise Financial Inc. now owns 654,160 shares of the savings and loans company’s stock valued at $11,016,000 after buying an additional 21,210 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Northwest Bancshares by 3.5% in the first quarter. Geode Capital Management LLC now owns 1,228,615 shares of the savings and loans company’s stock valued at $20,689,000 after buying an additional 41,397 shares during the last quarter. Institutional investors and hedge funds own 64.85% of the company’s stock.
Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at 15.48 on Friday. The company has a market capitalization of $1.59 billion, a PE ratio of 18.04 and a beta of 0.63. Northwest Bancshares, Inc. has a one year low of $14.95 and a one year high of $19.10. The company has a 50-day moving average price of $15.75 and a 200 day moving average price of $16.37.
Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings results on Monday, July 24th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%. The business had revenue of $124.21 million for the quarter, compared to analyst estimates of $116.82 million. Equities analysts anticipate that Northwest Bancshares, Inc. will post $0.93 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Thursday, August 3rd were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, August 1st. This represents a $0.64 annualized dividend and a yield of 4.13%. Northwest Bancshares’s payout ratio is 75.29%.
NWBI has been the topic of several analyst reports. Zacks Investment Research upgraded Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub upgraded Northwest Bancshares from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. 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 report on Thursday, May 11th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock has an average rating of “Hold” and an average price target 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 stock was sold at an average price of $16.13, for a total transaction of $218,722.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company 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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