Rafferty Asset Management LLC decreased its holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI – Free Report) by 39.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,302 shares of the savings and loans company’s stock after selling 58,601 shares during the period. Rafferty Asset Management LLC’s holdings in Northwest Bancshares were worth $914,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. WBI Investments Inc. bought a new position in shares of Northwest Bancshares in the third quarter worth about $317,000. Deutsche Bank AG boosted its stake in Northwest Bancshares by 13.8% during the third quarter. Deutsche Bank AG now owns 62,121 shares of the savings and loans company’s stock valued at $635,000 after buying an additional 7,530 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its stake in Northwest Bancshares by 205.9% during the third quarter. Campbell & CO Investment Adviser LLC now owns 42,516 shares of the savings and loans company’s stock valued at $435,000 after buying an additional 28,616 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Northwest Bancshares by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,503,007 shares of the savings and loans company’s stock valued at $35,836,000 after buying an additional 138,879 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Northwest Bancshares by 2.8% during the third quarter. Janney Montgomery Scott LLC now owns 164,780 shares of the savings and loans company’s stock valued at $1,686,000 after buying an additional 4,536 shares during the last quarter. Institutional investors own 65.21% of the company’s stock.
Northwest Bancshares Price Performance
Shares of Northwest Bancshares stock opened at $11.51 on Friday. The stock has a 50 day moving average of $12.27 and a 200 day moving average of $11.37. Northwest Bancshares, Inc. has a 12 month low of $9.80 and a 12 month high of $13.98. The firm has a market cap of $1.46 billion, a PE ratio of 10.86 and a beta of 0.63. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41.
Northwest Bancshares (NASDAQ:NWBI – Get Free Report) last issued its quarterly earnings data on Monday, January 22nd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. Northwest Bancshares had a return on equity of 9.21% and a net margin of 19.23%. The business had revenue of $186.56 million for the quarter, compared to the consensus estimate of $133.06 million. On average, research analysts expect that Northwest Bancshares, Inc. will post 0.95 EPS for the current fiscal year.
Northwest Bancshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd were given a dividend of $0.20 per share. The ex-dividend date was Thursday, February 1st. This represents a $0.80 dividend on an annualized basis and a yield of 6.95%. Northwest Bancshares’s dividend payout ratio (DPR) is presently 75.47%.
Insider Buying and Selling at Northwest Bancshares
In related news, EVP Scott J. Watson acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were acquired at an average cost of $12.90 per share, for a total transaction of $64,500.00. Following the completion of the transaction, the executive vice president now directly owns 35,282 shares in the company, valued at approximately $455,137.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Scott J. Watson acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were acquired at an average cost of $12.90 per share, for a total transaction of $64,500.00. Following the completion of the transaction, the executive vice president now directly owns 35,282 shares in the company, valued at approximately $455,137.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy B. Fannin sold 6,110 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $12.14, for a total value of $74,175.40. Following the sale, the director now owns 22,608 shares in the company, valued at $274,461.12. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Keefe, Bruyette & Woods increased their price target on Northwest Bancshares from $12.00 to $13.00 and gave the company a “market perform” rating in a research note on Tuesday, January 23rd.
Check Out Our Latest Research Report on Northwest Bancshares
About Northwest Bancshares
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.
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