Vantage Investment Advisors LLC Cuts Stake in Northwest Bancshares, Inc. (NWBI)
Vantage Investment Advisors LLC lessened its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 68.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,144 shares of the savings and loans company’s stock after selling 17,514 shares during the quarter. Vantage Investment Advisors LLC’s holdings in Northwest Bancshares were worth $141,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Northwest Bancshares during the 2nd quarter worth about $112,000. WBI Investments Inc. acquired a new stake in shares of Northwest Bancshares during the 2nd quarter worth about $175,000. Virtu Financial LLC acquired a new stake in shares of Northwest Bancshares during the 2nd quarter worth about $246,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Northwest Bancshares in the 2nd quarter worth about $377,000. Finally, Wesbanco Bank Inc. acquired a new stake in Northwest Bancshares in the 2nd quarter worth about $385,000. Institutional investors own 72.28% of the company’s stock.
In other Northwest Bancshares news, EVP Thomas J. Townsend sold 10,500 shares of Northwest Bancshares stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $18.40, for a total value of $193,200.00. Following the completion of the sale, the executive vice president now owns 24,100 shares in the company, valued at approximately $443,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by insiders.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings data on Monday, October 22nd. The savings and loans company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. Northwest Bancshares had a net margin of 21.95% and a return on equity of 8.27%. The business had revenue of $108.37 million during the quarter, compared to analysts’ expectations of $109.30 million. As a group, equities research analysts expect that Northwest Bancshares, Inc. will post 1.03 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Wednesday, October 31st. Northwest Bancshares’s dividend payout ratio (DPR) is 80.95%.
Several analysts have weighed in on the stock. BidaskClub upgraded shares of Northwest Bancshares from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Northwest Bancshares from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Friday, October 26th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Northwest Bancshares in a research note on Tuesday, October 23rd.
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Northwest Bancshares Profile
Northwest Bancshares, Inc operates as a bank holding company for Northwest Savings Bank that offers various personal and business banking solutions in the United States. The company offers personal and business deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts.
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