Creative Planning reduced its position in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 19.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,340 shares of the savings and loans company’s stock after selling 2,662 shares during the period. Creative Planning’s holdings in Northwest Bancshares were worth $155,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in NWBI. Goldman Sachs Group Inc. lifted its holdings in Northwest Bancshares by 210.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,288,544 shares of the savings and loans company’s stock worth $18,619,000 after purchasing an additional 873,028 shares during the last quarter. Millennium Management LLC lifted its holdings in Northwest Bancshares by 194.9% during the 1st quarter. Millennium Management LLC now owns 651,673 shares of the savings and loans company’s stock worth $9,417,000 after purchasing an additional 430,720 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Northwest Bancshares during the 1st quarter worth approximately $3,786,000. Geode Capital Management LLC lifted its holdings in Northwest Bancshares by 9.2% during the 1st quarter. Geode Capital Management LLC now owns 2,309,559 shares of the savings and loans company’s stock worth $33,373,000 after purchasing an additional 194,088 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in Northwest Bancshares during the 1st quarter worth approximately $2,018,000. 61.45% of the stock is owned by institutional investors and hedge funds.
NWBI has been the subject of several research reports. Boenning Scattergood reissued a “neutral” rating on shares of Northwest Bancshares in a report on Monday, July 26th. Keefe, Bruyette & Woods initiated coverage on Northwest Bancshares in a report on Monday, July 26th. They issued a “market perform” rating and a $13.51 price objective for the company. Zacks Investment Research raised Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, August 19th. Finally, B. Riley cut Northwest Bancshares from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $16.00 to $13.51 in a report on Tuesday, July 27th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.60.
Shares of NWBI opened at $12.70 on Wednesday. Northwest Bancshares, Inc. has a 52-week low of $8.84 and a 52-week high of $15.48. The business’s fifty day moving average is $13.16 and its 200-day moving average is $13.88. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 0.92. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 9.92 and a beta of 0.64.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings results on Sunday, July 25th. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.04). Northwest Bancshares had a net margin of 27.46% and a return on equity of 10.71%. As a group, research analysts forecast that Northwest Bancshares, Inc. will post 1.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 16th. Stockholders of record on Thursday, August 5th were paid a $0.20 dividend. The ex-dividend date was Wednesday, August 4th. This represents a $0.80 annualized dividend and a dividend yield of 6.30%. Northwest Bancshares’s payout ratio is 73.39%.
About Northwest Bancshares
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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