Northwest Bancshares, Inc. (NWBI) Stake Increased by Teachers Advisors LLC
Teachers Advisors LLC increased its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 2.3% during the first quarter, Holdings Channel reports. The firm owned 186,754 shares of the savings and loans company’s stock after buying an additional 4,258 shares during the period. Teachers Advisors LLC’s holdings in Northwest Bancshares were worth $3,145,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of NWBI. First Trust Advisors LP raised its stake in Northwest Bancshares by 27.1% in the first quarter. First Trust Advisors LP now owns 1,347,573 shares of the savings and loans company’s stock worth $22,693,000 after buying an additional 287,341 shares in the last quarter. KBC Group NV raised its stake in Northwest Bancshares by 151.7% in the first quarter. KBC Group NV now owns 416,465 shares of the savings and loans company’s stock worth $7,013,000 after buying an additional 251,023 shares in the last quarter. Acadian Asset Management LLC raised its stake in Northwest Bancshares by 21.8% in the first quarter. Acadian Asset Management LLC now owns 1,151,484 shares of the savings and loans company’s stock worth $19,391,000 after buying an additional 206,202 shares in the last quarter. Piermont Capital Management Inc. acquired a new stake in Northwest Bancshares during the first quarter worth approximately $2,840,000. Finally, Concert Wealth Management Inc. acquired a new stake in Northwest Bancshares during the first quarter worth approximately $1,583,000. Hedge funds and other institutional investors own 66.26% of the company’s stock.
Shares of Northwest Bancshares, Inc. (NWBI) traded down 1.60% during midday trading on Friday, reaching $15.42. The company had a trading volume of 460,127 shares. The stock’s 50 day moving average is $15.72 and its 200-day moving average is $16.42. The stock has a market capitalization of $1.58 billion, a PE ratio of 17.97 and a beta of 0.63. Northwest Bancshares, Inc. has a 12-month low of $14.95 and a 12-month high of $19.10.
Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Monday, July 24th. The savings and loans company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%. The company had revenue of $124.21 million for the quarter, compared to analyst estimates of $116.82 million. On average, equities research analysts predict that Northwest Bancshares, Inc. will post $0.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Tuesday, August 1st. Northwest Bancshares’s dividend payout ratio (DPR) is currently 75.29%.
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A number of equities research analysts have recently commented on NWBI shares. BidaskClub lowered Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Zacks Investment Research raised Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, ValuEngine lowered Northwest Bancshares from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research report on Thursday, May 11th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $16.60.
In related news, Director Philip M. Tredway sold 13,560 shares of the company’s stock in a transaction that occurred on 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 filing with the SEC, which is available through the SEC website. 2.00% of the stock is currently owned by corporate insiders.
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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