Dimensional Fund Advisors LP lifted its stake in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,682,239 shares of the savings and loans company’s stock after acquiring an additional 56,843 shares during the period. Dimensional Fund Advisors LP owned 8.40% of Northwest Bancshares worth $150,376,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in shares of Northwest Bancshares in the 2nd quarter worth $112,000. WBI Investments Inc. bought a new position in shares of Northwest Bancshares in the 2nd quarter worth $175,000. Virtu Financial LLC bought a new position in shares of Northwest Bancshares in the 2nd quarter worth $246,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Northwest Bancshares in the 2nd quarter worth $377,000. Finally, Wesbanco Bank Inc. bought a new position in shares of Northwest Bancshares in the 2nd quarter worth $385,000. 73.17% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently commented on NWBI shares. BidaskClub raised Northwest Bancshares from a “hold” rating to a “buy” rating in a research report on Wednesday, November 7th. Zacks Investment Research raised Northwest Bancshares from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Friday, October 26th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Northwest Bancshares in a research report on Tuesday, October 23rd.
Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Monday, October 22nd. The savings and loans company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Northwest Bancshares had a return on equity of 8.27% and a net margin of 21.95%. The company had revenue of $108.37 million for the quarter, compared to analyst estimates of $109.30 million. Research analysts expect that Northwest Bancshares, Inc. will post 1.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.80%. The ex-dividend date was Wednesday, October 31st. Northwest Bancshares’s dividend payout ratio is currently 80.95%.
Northwest Bancshares Profile
Northwest Bancshares, Inc operates as a bank holding company for Northwest Savings Bank that offers various personal and business banking solutions in the United States. The company offers personal and business deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts.
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