Jackson Creek Investment Advisors LLC Invests $1.06 Million in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Jackson Creek Investment Advisors LLC acquired a new position in Northwest Bancshares, Inc. (NASDAQ:NWBI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 84,857 shares of the savings and loans company’s stock, valued at approximately $1,059,000.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC increased its position in Northwest Bancshares by 164.6% during the fourth quarter. CWM LLC now owns 4,918 shares of the savings and loans company’s stock worth $61,000 after acquiring an additional 3,059 shares during the period. International Assets Investment Management LLC increased its position in Northwest Bancshares by 1,148.0% during the fourth quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loans company’s stock worth $64,000 after acquiring an additional 4,684 shares during the period. Kestra Private Wealth Services LLC bought a new position in Northwest Bancshares during the third quarter worth $125,000. First Merchants Corp bought a new stake in Northwest Bancshares in the 4th quarter valued at $126,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of Northwest Bancshares by 30.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 15,752 shares of the savings and loans company’s stock valued at $161,000 after purchasing an additional 3,688 shares in the last quarter. 66.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Piper Sandler reduced their price target on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $12.00 price target (down from $13.00) on shares of Northwest Bancshares in a research note on Tuesday, April 23rd.

Northwest Bancshares Stock Down 1.3 %

NASDAQ NWBI traded down $0.14 during trading hours on Tuesday, reaching $10.60. 757,635 shares of the company’s stock were exchanged, compared to its average volume of 807,855. The company’s 50-day moving average is $11.22 and its two-hundred day moving average is $11.51. Northwest Bancshares, Inc. has a one year low of $9.80 and a one year high of $13.07. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 10.43 and a beta of 0.60.

Northwest Bancshares (NASDAQ:NWBI) last posted its earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. Northwest Bancshares had a return on equity of 8.77% and a net margin of 17.84%. The business had revenue of $188.20 million during the quarter, compared to analysts’ expectations of $132.80 million. On average, analysts forecast that Northwest Bancshares, Inc. will post 0.92 EPS for the current fiscal year.

Northwest Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, May 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 7.55%. The ex-dividend date is Wednesday, May 1st. Northwest Bancshares’s payout ratio is 77.67%.

Northwest Bancshares Company Profile

Northwest Bancshares, Inc operates as the bank holding company for Northwest Bank, a state-chartered savings bank that provides personal and business banking solutions. The company accepts various deposits, including checking, savings, money market deposit, term certificate, and individual retirement accounts.