Minerva Advisors LLC Has $1,148,000 Stake in Northwest Bancshares, Inc. (NASDAQ:NWBI)
Minerva Advisors LLC held its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,625 shares of the savings and loans company’s stock at the end of the second quarter. Minerva Advisors LLC’s holdings in Northwest Bancshares were worth $1,148,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Northwest Bancshares by 52,513.7% in the first quarter. BlackRock Inc. now owns 12,529,950 shares of the savings and loans company’s stock worth $211,005,000 after buying an additional 12,506,135 shares during the period. Vanguard Group Inc. boosted its position in Northwest Bancshares by 5.5% in the first quarter. Vanguard Group Inc. now owns 9,155,426 shares of the savings and loans company’s stock worth $154,177,000 after buying an additional 478,726 shares during the period. Dimensional Fund Advisors LP boosted its position in Northwest Bancshares by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 8,207,109 shares of the savings and loans company’s stock worth $138,208,000 after buying an additional 166,313 shares during the period. Wellington Management Group LLP boosted its position in Northwest Bancshares by 1.2% in the first quarter. Wellington Management Group LLP now owns 6,142,660 shares of the savings and loans company’s stock worth $103,443,000 after buying an additional 70,860 shares during the period. Finally, State Street Corp boosted its position in Northwest Bancshares by 2.9% in the first quarter. State Street Corp now owns 2,423,794 shares of the savings and loans company’s stock worth $40,816,000 after buying an additional 69,226 shares during the period. 66.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at 16.10 on Friday. Northwest Bancshares, Inc. has a 52-week low of $14.65 and a 52-week high of $19.10. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 18.76 and a beta of 0.63. The company has a 50 day moving average of $15.72 and a 200 day moving average of $16.48.
Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Monday, July 24th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $124.21 million for the quarter, compared to analyst estimates of $116.82 million. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%. Analysts predict that Northwest Bancshares, Inc. will post $0.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Tuesday, August 1st. Northwest Bancshares’s payout ratio is currently 75.29%.
NWBI has been the topic of a number of recent analyst reports. ValuEngine cut shares of Northwest Bancshares from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research note on Thursday, May 11th. Zacks Investment Research raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, BidaskClub cut shares of Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $16.60.
In related news, Director Philip M. Tredway sold 13,560 shares of Northwest Bancshares stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $16.13, for a total transaction of $218,722.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by insiders.
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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