Northwest Bancshares, Inc. (NWBI) Position Reduced by Engineers Gate Manager LP
Engineers Gate Manager LP reduced its holdings in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 28.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,228 shares of the savings and loans company’s stock after selling 18,357 shares during the quarter. Engineers Gate Manager LP’s holdings in Northwest Bancshares were worth $798,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in Northwest Bancshares by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 8,618,542 shares of the savings and loans company’s stock worth $148,842,000 after acquiring an additional 44,020 shares during the period. Renaissance Technologies LLC lifted its holdings in Northwest Bancshares by 27.9% during the second quarter. Renaissance Technologies LLC now owns 2,644,554 shares of the savings and loans company’s stock worth $41,281,000 after acquiring an additional 576,154 shares during the period. State Street Corp increased its position in Northwest Bancshares by 3.8% in the second quarter. State Street Corp now owns 2,516,857 shares of the savings and loans company’s stock worth $39,287,000 after buying an additional 93,063 shares during the last quarter. Northern Trust Corp increased its position in Northwest Bancshares by 3.3% in the second quarter. Northern Trust Corp now owns 2,449,958 shares of the savings and loans company’s stock worth $38,243,000 after buying an additional 78,768 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Northwest Bancshares by 7.1% in the third quarter. First Trust Advisors LP now owns 1,636,501 shares of the savings and loans company’s stock worth $28,262,000 after buying an additional 108,610 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.
A number of research firms have issued reports on NWBI. Boenning Scattergood reissued a “hold” rating on shares of Northwest Bancshares in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $16.00 target price on shares of Northwest Bancshares in a research report on Sunday, October 8th. Zacks Investment Research downgraded Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 26th. Finally, BidaskClub downgraded Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $16.67.
In related news, Director Timothy M. Hunter purchased 2,000 shares of Northwest Bancshares stock in a transaction dated Thursday, December 7th. The stock was bought at an average cost of $16.75 per share, for a total transaction of $33,500.00. Following the completion of the transaction, the director now owns 15,100 shares in the company, valued at $252,925. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan P. Scalise sold 6,047 shares of Northwest Bancshares stock in a transaction on 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 $316,698.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,639 shares of company stock valued at $435,808. 2.00% of the stock is owned by company insiders.
Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at $16.36 on Friday. 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, Inc. has a 52-week low of $14.95 and a 52-week high of $18.80. The stock has a market capitalization of $1,705.55, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 1.97 and a beta of 0.63.
Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Monday, October 23rd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. Northwest Bancshares had a return on equity of 7.54% and a net margin of 20.59%. The business had revenue of $107.83 million during the quarter, compared to the consensus estimate of $106.63 million. equities analysts predict that Northwest Bancshares, Inc. will post 0.85 EPS for the current fiscal year.
The business also recently declared 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 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Wednesday, November 1st. Northwest Bancshares’s dividend payout ratio (DPR) is presently 68.09%.
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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