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Northwest Bancshares, Inc. (NASDAQ:NWBI) Shares Acquired by BNP Paribas Financial Markets

Northwest Bancshares, Inc. (NASDAQ:NWBI) Shares Acquired by BNP Paribas Financial Markets


BNP Paribas Financial Markets increased its position in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI – Free Report) by 79.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The company owned 66,076 shares of the savings and loan company after purchasing an additional 29,324 shares during the period. BNP Paribas Financial Markets owned 0.05% of Northwest Bancshares worth $770,000 at the end of the most recent quarter.

A number of other hedge funds and institutional investors have also recently bought and sold shares of NWBI. CWM LLC increased its holdings in Northwest Bancshares by 164.6% in the fourth quarter. CWM LLC now owns 4,918 shares of the savings and loan company’s stock worth $61,000 after purchasing an additional 3,059 shares in the last quarter. International Assets Investment Management LLC increased its position in Northwest Bancshares by 1,148.0% in the fourth quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loan company’s stock worth $64,000 after purchasing an additional 4,684 shares during the period. First Merchants Corp purchased a new stake in Northwest Bancshares in the fourth quarter worth $126,000. IVC Wealth Advisors LLC acquired a new position in Northwest Bancshares during the 1st quarter worth $124,000. Finally, Courier Capital LLC increased its stake in shares of Northwest Bancshares by 10.2% in the first quarter. Courier Capital LLC now owns 13,576 shares of the savings and loan company’s stock worth $158,000 after purchasing an additional 1,253 shares in the last quarter. Institutional investors and hedge funds hold 66.32% of the shares.

Northwest Bancshares is trading 0.2% lower

Shares of NWBI opened at $13.13 on Friday. The stock has a 50-day simple moving average of $11.33 and a 200-day simple moving average of $11.48. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 12.75 and a beta of 0.64. Northwest Bancshares, Inc. has a 52-week low of $9.80 and a 52-week high of $13.58. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.42.

Northwest Bancshares (NASDAQ:NWBI – Get Free Report) last announced its quarterly earnings results on Monday, April 22. The savings and loan company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.77%. The company had revenue of $188.20 million for the quarter, compared to analysts’ expectations of $132.80 million. On average, sell-side analysts expect that Northwest Bancshares, Inc. will post earnings per share of 0.92 for the current fiscal year.

Northwest Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, May 2nd were given a dividend of $0.20. The ex-dividend date for this dividend was Wednesday, May 1st. This represents an annualized dividend of $0.80 and a dividend yield of 6.09%. Northwest Bancshares’ dividend payout ratio is currently 77.67%.

Insider activity

In other news, EVP Devin T. Cygnar sold 3,843 shares of the company’s stock in a transaction dated Wednesday, May 8. The shares were sold at an average price of $11.08, for a total transaction of $42,580.44. Following the sale, the executive vice president now directly owns 11,823 shares of the company’s stock, valued at $130,998.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available for access via the SEC website. In related news, EVP Devin T. Cygnar sold 3,843 shares of Northwest Bancshares stock in a transaction dated Wednesday, May 8. The shares were sold at an average price of $11.08, for a total transaction value of $42,580.44. Following the transaction, the executive vice president now owns 11,823 shares of the company’s stock, valued at approximately $130,998.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC website. Also, Director Timothy M. Hunter acquired 10,000 shares of Northwest Bancshares in a transaction on Thursday, May 16th. The shares were purchased at an average price of $11.30 per share, for a total value of $113,000.00. Following the completion of the purchase, the Director now directly owns 161,474 shares of the company’s stock, valued at approximately $1,824,656.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 5,433 shares of the company’s stock for $59,858. Insiders own 1.10% of the company’s stock.

Analysts set new price targets

NWBI has been the subject of several research analyst reports. Keefe, Bruyette & Woods affirmed a “market perform” rating and set a $12.00 price target on shares of Northwest Bancshares (down from $13.00) in a report on Tuesday, April 23rd. Piper Sandler lowered their price target on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the company in a report on Tuesday, April 23rd.

Get our latest analysis on Northwest Bancshares

About Northwest Bancshares

(Free Report)

Northwest Bancshares, Inc. operates as the bank holding company for Northwest Bank, a state-chartered savings bank that offers personal and business banking solutions. The company accepts a variety of deposits, including checking accounts, savings accounts, money market deposits, term certificates, and individual retirement accounts.

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Would you like to know which other hedge funds have NWBI in their portfolio? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Northwest Bancshares, Inc. (NASDAQ:NWBI – Free Report).

Quarterly Institutional Ownership for Northwest Bancshares (NASDAQ:NWBI)



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