Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 63.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,000 shares of the savings and loans company’s stock after selling 166,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.08% of Northwest Bancshares worth $1,309,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its holdings in Northwest Bancshares by 210.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,288,544 shares of the savings and loans company’s stock valued at $18,619,000 after purchasing an additional 873,028 shares during the last quarter. Millennium Management LLC grew its holdings in Northwest Bancshares by 194.9% in the first quarter. Millennium Management LLC now owns 651,673 shares of the savings and loans company’s stock valued at $9,417,000 after purchasing an additional 430,720 shares during the last quarter. Geode Capital Management LLC grew its holdings in Northwest Bancshares by 9.2% in the first quarter. Geode Capital Management LLC now owns 2,309,559 shares of the savings and loans company’s stock valued at $33,373,000 after purchasing an additional 194,088 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Northwest Bancshares by 32.2% in the second quarter. JPMorgan Chase & Co. now owns 644,487 shares of the savings and loans company’s stock valued at $8,791,000 after purchasing an additional 156,895 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of Northwest Bancshares during the first quarter valued at $2,018,000. Hedge funds and other institutional investors own 61.45% of the company’s stock.
NWBI has been the topic of a number of analyst reports. Zacks Investment Research lowered Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, September 28th. Boenning Scattergood reaffirmed a “neutral” rating on shares of Northwest Bancshares in a research note on Monday, July 26th. B. Riley lowered Northwest Bancshares from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $13.51 in a research note on Tuesday, July 27th. Finally, Keefe, Bruyette & Woods started coverage on Northwest Bancshares in a research note on Monday, July 26th. They issued a “market perform” rating and a $13.51 price target on the stock. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.60.
Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings data on Sunday, July 25th. The savings and loans company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). The firm had revenue of $150.44 million during the quarter, compared to analysts’ expectations of $135.13 million. Northwest Bancshares had a return on equity of 10.71% and a net margin of 27.46%. As a group, research analysts forecast that Northwest Bancshares, Inc. will post 1.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Stockholders of record on Thursday, August 5th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, August 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.78%. Northwest Bancshares’s dividend payout ratio (DPR) is 73.39%.
In other news, Director Timothy M. Hunter acquired 10,000 shares of the business’s stock in a transaction dated Thursday, August 12th. The shares were bought at an average cost of $13.41 per share, for a total transaction of $134,100.00. Following the acquisition, the director now directly owns 104,900 shares in the company, valued at approximately $1,406,709. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.80% of the company’s stock.
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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