First Trust Advisors LP grew its holdings in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,636,501 shares of the savings and loans company’s stock after acquiring an additional 108,610 shares during the quarter. First Trust Advisors LP owned about 1.60% of Northwest Bancshares worth $28,262,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Northern Trust Corp boosted its position in shares of Northwest Bancshares by 3.3% during the 2nd quarter. Northern Trust Corp now owns 2,449,958 shares of the savings and loans company’s stock valued at $38,243,000 after acquiring an additional 78,768 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Northwest Bancshares during the 2nd quarter valued at about $1,132,000. Cipher Capital LP raised its holdings in shares of Northwest Bancshares by 26.2% during the 2nd quarter. Cipher Capital LP now owns 140,602 shares of the savings and loans company’s stock valued at $2,195,000 after buying an additional 29,170 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Northwest Bancshares by 3.5% during the 1st 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 in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Northwest Bancshares by 60.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 63,589 shares of the savings and loans company’s stock valued at $1,071,000 after buying an additional 23,837 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.
A number of brokerages recently weighed in on NWBI. Boenning Scattergood reissued a “hold” rating on shares of Northwest Bancshares in a report on Tuesday, October 24th. Zacks Investment Research cut Northwest Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, October 26th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $16.00 price objective on shares of Northwest Bancshares in a report on Sunday, October 8th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Northwest Bancshares presently has a consensus rating of “Hold” and a consensus price target of $16.67.
In other Northwest Bancshares news, EVP Jonathan P. Scalise sold 6,047 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $17.21, for a total transaction of $104,068.87. Following the sale, the executive vice president now directly owns 18,402 shares in the company, valued at $316,698.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andrew Young sold 5,625 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $16.18, for a total value of $91,012.50. Following the sale, the executive vice president now owns 60,254 shares in the company, valued at $974,909.72. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at 16.87 on Wednesday. The stock has a market capitalization of $1.73 billion, a PE ratio of 19.66 and a beta of 0.65. The company’s 50 day moving average price is $17.08 and its 200-day moving average price is $16.11. Northwest Bancshares, Inc. has a one year low of $14.95 and a one year high of $19.10.
Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings results on Monday, October 23rd. The savings and loans company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Northwest Bancshares had a return on equity of 7.54% and a net margin of 20.59%. The company had revenue of $107.83 million during the quarter, compared to analyst estimates of $106.63 million. Analysts expect that Northwest Bancshares, Inc. will post $0.93 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Thursday, November 2nd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Wednesday, November 1st. Northwest Bancshares’s payout ratio is presently 68.09%.
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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