Fmr LLC Continues to Hold Stake in Northwest Bancshares, Inc. (NWBI)
Fmr LLC maintained its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,600 shares of the savings and loans company’s stock at the end of the second quarter. Fmr LLC’s holdings in Northwest Bancshares were worth $603,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its position in shares of Northwest Bancshares by 3.3% during the 2nd quarter. Northern Trust Corp now owns 2,449,958 shares of the savings and loans company’s stock valued at $38,243,000 after acquiring an additional 78,768 shares during the period. New York State Common Retirement Fund lifted its position in shares of Northwest Bancshares by 7.9% during the 2nd quarter. New York State Common Retirement Fund now owns 101,000 shares of the savings and loans company’s stock valued at $1,577,000 after acquiring an additional 7,399 shares during the period. Thrivent Financial For Lutherans lifted its position in shares of Northwest Bancshares by 6.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 61,150 shares of the savings and loans company’s stock valued at $955,000 after acquiring an additional 3,450 shares during the period. Stevens Capital Management LP lifted its position in shares of Northwest Bancshares by 29.2% during the 2nd quarter. Stevens Capital Management LP now owns 59,037 shares of the savings and loans company’s stock valued at $922,000 after acquiring an additional 13,326 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Northwest Bancshares by 10.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 720,925 shares of the savings and loans company’s stock valued at $11,253,000 after acquiring an additional 66,765 shares during the period. Institutional investors own 65.36% of the company’s stock.
A number of research firms recently issued reports on NWBI. Boenning Scattergood reiterated a “hold” rating on shares of Northwest Bancshares in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $16.00 target price on shares of Northwest Bancshares in a research report on Sunday, October 8th. Finally, Zacks Investment Research downgraded shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Northwest Bancshares has an average rating of “Hold” and an average price target of $16.67.
In other news, EVP Andrew Young sold 5,625 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $16.18, for a total value of $91,012.50. Following the completion of the sale, the executive vice president now owns 60,254 shares in the company, valued at approximately $974,909.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan P. Scalise sold 6,047 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $17.21, for a total transaction of $104,068.87. Following the completion of the sale, the executive vice president now owns 18,402 shares of the company’s stock, valued at approximately $316,698.42. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
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Shares of Northwest Bancshares, Inc. (NASDAQ NWBI) opened at $15.58 on Friday. The company has a market cap of $1,593.69, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.99 and a current ratio of 0.99. Northwest Bancshares, Inc. has a one year low of $14.95 and a one year high of $19.10.
Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings results on Monday, October 23rd. The savings and loans company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. The business had revenue of $107.83 million during the quarter, compared to analyst estimates of $106.63 million. Northwest Bancshares had a net margin of 20.59% and a return on equity of 7.54%. equities research analysts forecast that Northwest Bancshares, Inc. will post 0.85 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Thursday, November 2nd will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $0.64 dividend on an annualized basis and a yield of 4.11%. Northwest Bancshares’s dividend payout ratio (DPR) is presently 68.09%.
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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