Valley Brook Capital Group purchased a new position in Northwest Bancshares, Inc. (NASDAQ:NWBI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,600 shares of the savings and loans company’s stock, valued at approximately $33,000.
A number of other hedge funds have also bought and sold shares of the business. Comerica Bank lifted its stake in Northwest Bancshares by 0.6% in the 4th quarter. Comerica Bank now owns 133,976 shares of the savings and loans company’s stock worth $1,857,000 after purchasing an additional 775 shares in the last quarter. Carroll Financial Associates Inc. lifted its position in shares of Northwest Bancshares by 2.8% in the fourth quarter. Carroll Financial Associates Inc. now owns 38,195 shares of the savings and loans company’s stock worth $486,000 after buying an additional 1,039 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Northwest Bancshares by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 69,093 shares of the savings and loans company’s stock worth $880,000 after buying an additional 1,448 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Northwest Bancshares by 3,239.7% during the fourth quarter. Meeder Asset Management Inc. now owns 1,937 shares of the savings and loans company’s stock valued at $25,000 after buying an additional 1,879 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in Northwest Bancshares by 1.7% during the 4th quarter. Stifel Financial Corp now owns 133,824 shares of the savings and loans company’s stock valued at $1,705,000 after buying an additional 2,300 shares in the last quarter. Institutional investors and hedge funds own 61.77% of the company’s stock.
In other Northwest Bancshares news, EVP Julia W. Mctavish sold 47,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 24th. The stock was sold at an average price of $14.55, for a total transaction of $683,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John P. Meegan sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $13.38, for a total transaction of $200,700.00. Following the completion of the transaction, the director now owns 77,050 shares in the company, valued at $1,030,929. The disclosure for this sale can be found here. In the last 90 days, insiders bought 17,485 shares of company stock valued at $238,624 and sold 79,376 shares valued at $1,123,809. 1.20% of the stock is currently owned by company insiders.
Shares of NWBI stock opened at $14.42 on Thursday. The company has a market cap of $1.83 billion, a PE ratio of 25.75 and a beta of 0.68. Northwest Bancshares, Inc. has a 1 year low of $8.52 and a 1 year high of $15.48. The stock’s 50 day simple moving average is $14.60 and its two-hundred day simple moving average is $12.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.99 and a quick ratio of 0.99.
Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Sunday, January 24th. The savings and loans company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The firm had revenue of $135.01 million for the quarter, compared to the consensus estimate of $137.70 million. Northwest Bancshares had a return on equity of 7.20% and a net margin of 11.80%. Equities research analysts expect that Northwest Bancshares, Inc. will post 0.89 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, February 15th. Stockholders of record on Thursday, February 4th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend was Wednesday, February 3rd. Northwest Bancshares’s dividend payout ratio is currently 72.38%.
Northwest Bancshares Profile
Northwest Bancshares, Inc operates as a holding company for Northwest Bank that offers various personal and business banking solutions. The company accepts various deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts. Its loan products include one-to-four family residential real estate, short-term consumer, multi-family residential and commercial real estate, commercial business, and residential mortgage loans; home equity lines of credit; and consumer loans comprising automobile, sales finance, unsecured personal, and credit card loans, as well as loans secured by deposit accounts.
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