Institute for Wealth Management LLC. lowered its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 6.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,436 shares of the savings and loans company’s stock after selling 5,187 shares during the quarter. Institute for Wealth Management LLC. owned about 0.06% of Northwest Bancshares worth $720,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in NWBI. Verus Capital Partners LLC increased its stake in shares of Northwest Bancshares by 233.7% in the first quarter. Verus Capital Partners LLC now owns 2,803 shares of the savings and loans company’s stock valued at $32,000 after purchasing an additional 1,963 shares during the period. Versant Capital Management Inc grew its position in Northwest Bancshares by 546.9% in the first quarter. Versant Capital Management Inc now owns 3,364 shares of the savings and loans company’s stock worth $38,000 after buying an additional 2,844 shares during the last quarter. Advisor Group Inc. grew its position in Northwest Bancshares by 19.7% in the fourth quarter. Advisor Group Inc. now owns 4,467 shares of the savings and loans company’s stock worth $74,000 after buying an additional 736 shares during the last quarter. Creative Planning acquired a new position in Northwest Bancshares in the second quarter worth approximately $104,000. Finally, NEXT Financial Group Inc grew its position in Northwest Bancshares by 35.7% in the first quarter. NEXT Financial Group Inc now owns 9,128 shares of the savings and loans company’s stock worth $106,000 after buying an additional 2,400 shares during the last quarter. Institutional investors own 58.74% of the company’s stock.
Several research analysts have issued reports on NWBI shares. BidaskClub lowered shares of Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Zacks Investment Research raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, B. Riley initiated coverage on shares of Northwest Bancshares in a research note on Friday, June 19th. They issued a “buy” rating and a $12.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $15.25.
Northwest Bancshares stock traded up $0.11 during midday trading on Friday, reaching $9.85. The stock had a trading volume of 1,067,461 shares, compared to its average volume of 574,149. The firm’s fifty day simple moving average is $9.87 and its two-hundred day simple moving average is $11.89. Northwest Bancshares, Inc. has a twelve month low of $8.52 and a twelve month high of $17.74. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 1.03. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 17.28 and a beta of 0.62.
Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings data on Monday, July 27th. The savings and loans company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.18. Northwest Bancshares had a net margin of 11.31% and a return on equity of 6.97%. The firm had revenue of $133.57 million during the quarter, compared to analyst estimates of $125.99 million. As a group, sell-side analysts predict that Northwest Bancshares, Inc. will post 0.77 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 7.72%. The ex-dividend date is Wednesday, August 5th. Northwest Bancshares’s dividend payout ratio (DPR) is currently 72.38%.
Northwest Bancshares Profile
Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.
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