Victory Capital Management Inc. Purchases New Position in Northwest Bancshares, Inc. (NWBI)
Victory Capital Management Inc. purchased a new stake in Northwest Bancshares, Inc. (NASDAQ:NWBI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 66,585 shares of the savings and loans company’s stock, valued at approximately $1,150,000. Victory Capital Management Inc. owned about 0.06% of Northwest Bancshares at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of NWBI. Teachers Advisors LLC increased its stake in Northwest Bancshares by 2.3% in the 1st quarter. Teachers Advisors LLC now owns 186,754 shares of the savings and loans company’s stock valued at $3,145,000 after buying an additional 4,258 shares during the last quarter. Bank of America Corp DE increased its stake in Northwest Bancshares by 13.8% in the 1st quarter. Bank of America Corp DE now owns 394,988 shares of the savings and loans company’s stock valued at $6,652,000 after buying an additional 48,028 shares during the last quarter. State Street Corp increased its stake in Northwest Bancshares by 2.9% in the 1st quarter. State Street Corp now owns 2,423,794 shares of the savings and loans company’s stock valued at $40,816,000 after buying an additional 69,226 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Northwest Bancshares by 79.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 20,131 shares of the savings and loans company’s stock valued at $314,000 after buying an additional 8,891 shares during the last quarter. Finally, Aperio Group LLC increased its stake in Northwest Bancshares by 53.9% in the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 64.03% of the company’s stock.
Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at $16.41 on Thursday. Northwest Bancshares, Inc. has a 12-month low of $14.95 and a 12-month high of $19.10. The company has a market cap of $1,676.82, a PE ratio of 18.57, a PEG ratio of 1.93 and a beta of 0.64. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.99 and a quick ratio of 0.99.
Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Monday, October 23rd. The savings and loans company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Northwest Bancshares had a net margin of 20.59% and a return on equity of 7.54%. The company had revenue of $107.83 million during the quarter, compared to the consensus estimate of $106.63 million. sell-side analysts expect that Northwest Bancshares, Inc. will post 0.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Wednesday, November 1st. Northwest Bancshares’s dividend payout ratio (DPR) is presently 68.09%.
Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Boenning Scattergood reiterated a “hold” rating on shares of Northwest Bancshares in a research note on Tuesday, October 24th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $16.00 price target on shares of Northwest Bancshares in a research note on Sunday, October 8th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Northwest Bancshares presently has an average rating of “Hold” and an average price target of $16.67.
In other news, EVP Jonathan P. Scalise sold 6,047 shares of Northwest Bancshares stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $17.21, for a total value of $104,068.87. Following the completion of the transaction, the executive vice president now owns 18,402 shares of the company’s stock, valued at approximately $316,698.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Ronald J. Seiffert acquired 6,300 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was purchased at an average cost of $16.30 per share, with a total value of $102,690.00. Following the transaction, the chief operating officer now owns 6,300 shares in the company, valued at $102,690. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.
About Northwest Bancshares
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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