Dean Investment Associates LLC Takes Position in Northwest Bancshares, Inc. (NWBI)
Dean Investment Associates LLC bought a new position in Northwest Bancshares, Inc. (NASDAQ:NWBI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 63,700 shares of the savings and loans company’s stock, valued at approximately $1,100,000. Dean Investment Associates LLC owned about 0.06% of Northwest Bancshares as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Aperio Group LLC grew its holdings in shares of Northwest Bancshares by 53.9% during the second quarter. Aperio Group LLC now owns 37,581 shares of the savings and loans company’s stock valued at $587,000 after buying an additional 13,166 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Northwest Bancshares by 3.6% during the second quarter. Great West Life Assurance Co. Can now owns 145,279 shares of the savings and loans company’s stock valued at $2,264,000 after buying an additional 5,000 shares in the last quarter. Texas Permanent School Fund grew its holdings in shares of Northwest Bancshares by 1.0% during the second quarter. Texas Permanent School Fund now owns 74,462 shares of the savings and loans company’s stock valued at $1,162,000 after buying an additional 741 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Northwest Bancshares by 13.2% during the second quarter. Sei Investments Co. now owns 19,693 shares of the savings and loans company’s stock valued at $308,000 after buying an additional 2,296 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Northwest Bancshares by 4.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 641,423 shares of the savings and loans company’s stock valued at $10,013,000 after buying an additional 27,714 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.
In related news, CFO William W. Harvey sold 10,000 shares of Northwest Bancshares 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 completion of the sale, the chief financial officer now owns 158,649 shares of the company’s stock, valued at $2,741,454.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gerald J. Ritzert sold 9,592 shares of Northwest Bancshares stock in a transaction on Monday, December 11th. The shares were sold at an average price of $16.57, for a total value of $158,939.44. Following the sale, the executive vice president now directly owns 50,657 shares of the company’s stock, valued at approximately $839,386.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,639 shares of company stock valued at $435,808. Insiders own 2.00% of the company’s stock.
A number of research analysts have recently weighed in on the company. BidaskClub downgraded Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Thursday. Boenning Scattergood reiterated a “hold” rating on shares of Northwest Bancshares in a report on Tuesday, October 24th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $16.00 price objective on shares of Northwest Bancshares in a research report on Sunday, October 8th. Finally, Zacks Investment Research cut Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Northwest Bancshares presently has a consensus rating of “Hold” and an average target price of $16.67.
Shares of Northwest Bancshares, Inc. (NASDAQ NWBI) opened at $16.55 on Thursday. The stock has a market capitalization of $1,694.26, a price-to-earnings ratio of 18.76, a P/E/G ratio of 1.95 and a beta of 0.63. Northwest Bancshares, Inc. has a 12-month low of $14.95 and a 12-month high of $18.80. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.19.
Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings data on Monday, October 23rd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $107.83 million during the quarter, compared to analysts’ expectations of $106.63 million. Northwest Bancshares had a return on equity of 7.54% and a net margin of 20.59%. equities analysts forecast that Northwest Bancshares, Inc. will post 0.85 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Thursday, November 2nd were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, November 1st. This represents a $0.64 dividend on an annualized basis and a yield of 3.87%. Northwest Bancshares’s payout ratio is 68.09%.
Northwest Bancshares 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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