Pinebridge Investments L.P. trimmed its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 21.1% during the fourth quarter, HoldingsChannel reports. The firm owned 137,456 shares of the savings and loans company’s stock after selling 36,861 shares during the period. Pinebridge Investments L.P.’s holdings in Northwest Bancshares were worth $2,300,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its holdings in shares of Northwest Bancshares by 2.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,284 shares of the savings and loans company’s stock valued at $114,000 after purchasing an additional 180 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Northwest Bancshares in the 3rd quarter valued at $205,000. Mascoma Wealth Management LLC acquired a new stake in shares of Northwest Bancshares in the 3rd quarter valued at $217,000. CIBC Asset Management Inc acquired a new stake in shares of Northwest Bancshares in the 4th quarter valued at $228,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Northwest Bancshares in the 3rd quarter valued at $301,000. Institutional investors and hedge funds own 65.61% of the company’s stock.
In other Northwest Bancshares news, EVP Gerald J. Ritzert sold 10,800 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $16.57, for a total transaction of $178,956.00. Following the transaction, the executive vice president now directly owns 45,857 shares of the company’s stock, valued at approximately $759,850.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William W. Harvey sold 10,000 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $17.28, for a total transaction of $172,800.00. Following the transaction, the chief financial officer now directly owns 158,649 shares in the company, valued at $2,741,454.72. The disclosure for this sale can be found here. Insiders sold a total of 50,964 shares of company stock worth $859,911 over the last ninety days. Insiders own 2.00% of the company’s stock.
Northwest Bancshares (NASDAQ:NWBI) last posted its earnings results on Monday, January 22nd. The savings and loans company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. The firm had revenue of $107.15 million for the quarter, compared to the consensus estimate of $108.15 million. Northwest Bancshares had a net margin of 20.11% and a return on equity of 7.23%. research analysts predict that Northwest Bancshares, Inc. will post 1.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.03%. This is an increase from Northwest Bancshares’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Wednesday, January 31st. Northwest Bancshares’s dividend payout ratio (DPR) is 73.91%.
NWBI has been the topic of a number of analyst reports. Boenning Scattergood restated a “hold” rating on shares of Northwest Bancshares in a report on Tuesday, October 24th. Zacks Investment Research lowered shares of Northwest Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, BidaskClub raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Six investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $17.25.
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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