Point72 Asset Management L.P. Acquires 171,200 Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI)

Point72 Asset Management L.P. increased its holdings in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 1,083.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,000 shares of the savings and loans company’s stock after purchasing an additional 171,200 shares during the quarter. Point72 Asset Management L.P.’s holdings in Northwest Bancshares were worth $3,065,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NWBI. California State Teachers Retirement System increased its holdings in Northwest Bancshares by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 156,424 shares of the savings and loans company’s stock valued at $2,564,000 after acquiring an additional 1,868 shares during the last quarter. State Street Corp boosted its holdings in shares of Northwest Bancshares by 1.6% during the 3rd quarter. State Street Corp now owns 3,114,669 shares of the savings and loans company’s stock valued at $51,049,000 after purchasing an additional 48,671 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Northwest Bancshares during the 3rd quarter valued at about $25,000. SG Americas Securities LLC boosted its holdings in shares of Northwest Bancshares by 28.3% during the 3rd quarter. SG Americas Securities LLC now owns 13,632 shares of the savings and loans company’s stock valued at $223,000 after purchasing an additional 3,010 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Northwest Bancshares by 13.5% during the third quarter. First Trust Advisors LP now owns 2,615,219 shares of the savings and loans company’s stock valued at $42,863,000 after purchasing an additional 311,292 shares in the last quarter. Hedge funds and other institutional investors own 69.82% of the company’s stock.

NWBI stock opened at $16.49 on Wednesday. The firm has a fifty day moving average price of $16.83 and a 200 day moving average price of $16.80. Northwest Bancshares, Inc. has a fifty-two week low of $15.46 and a fifty-two week high of $18.81. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $1.76 billion, a PE ratio of 16.17 and a beta of 0.66.

Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings results on Monday, October 21st. The savings and loans company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The company had revenue of $117.11 million for the quarter, compared to analysts’ expectations of $116.30 million. Northwest Bancshares had a net margin of 21.99% and a return on equity of 8.57%. On average, equities analysts predict that Northwest Bancshares, Inc. will post 1.09 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.72 annualized dividend and a yield of 4.37%. Northwest Bancshares’s dividend payout ratio (DPR) is currently 70.59%.

In related news, Director John P. Meegan sold 6,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $16.80, for a total value of $100,800.00. Following the completion of the transaction, the director now owns 65,350 shares of the company’s stock, valued at approximately $1,097,880. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy M. Hunter purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was acquired at an average cost of $16.94 per share, with a total value of $169,400.00. Following the acquisition, the director now owns 34,500 shares in the company, valued at approximately $584,430. The disclosure for this purchase can be found here. Insiders sold a total of 26,030 shares of company stock valued at $444,776 over the last three months. Corporate insiders own 1.40% of the company’s stock.

Several equities research analysts have recently issued reports on the company. ValuEngine raised Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Zacks Investment Research raised Northwest Bancshares from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Thursday, November 21st. BidaskClub cut Northwest Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday. Finally, Raymond James started coverage on Northwest Bancshares in a report on Wednesday, November 27th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $19.00.

Northwest Bancshares Company Profile

Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.

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Institutional Ownership by Quarter for Northwest Bancshares (NASDAQ:NWBI)

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