MQS Management LLC Invests $328,000 in Northwest Bancshares, Inc. (NASDAQ:NWBI)

MQS Management LLC acquired a new position in Northwest Bancshares, Inc. (NASDAQ:NWBI) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 28,175 shares of the savings and loans company’s stock, valued at approximately $328,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NWBI. CWM LLC boosted its holdings in shares of Northwest Bancshares by 164.6% in the fourth quarter. CWM LLC now owns 4,918 shares of the savings and loans company’s stock worth $61,000 after buying an additional 3,059 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Northwest Bancshares by 1,148.0% during the fourth quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loans company’s stock valued at $64,000 after purchasing an additional 4,684 shares in the last quarter. IVC Wealth Advisors LLC purchased a new position in Northwest Bancshares during the first quarter valued at approximately $124,000. First Merchants Corp purchased a new position in Northwest Bancshares during the fourth quarter valued at approximately $126,000. Finally, Courier Capital LLC lifted its holdings in Northwest Bancshares by 10.2% during the first quarter. Courier Capital LLC now owns 13,576 shares of the savings and loans company’s stock valued at $158,000 after purchasing an additional 1,253 shares in the last quarter. Hedge funds and other institutional investors own 66.32% of the company’s stock.

Northwest Bancshares Price Performance

Shares of NWBI stock traded up $0.13 during mid-day trading on Friday, hitting $14.29. The company had a trading volume of 150,491 shares, compared to its average volume of 743,458. Northwest Bancshares, Inc. has a 52-week low of $9.80 and a 52-week high of $14.55. The stock’s 50 day moving average price is $11.53 and its 200-day moving average price is $11.53. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $1.82 billion, a P/E ratio of 13.75 and a beta of 0.64.

Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Monday, April 22nd. The savings and loans company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. Northwest Bancshares had a net margin of 14.28% and a return on equity of 8.72%. The firm had revenue of $188.20 million for the quarter, compared to the consensus estimate of $132.80 million. Equities research analysts forecast that Northwest Bancshares, Inc. will post 0.88 earnings per share for the current year.

Northwest Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Friday, August 2nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.60%. The ex-dividend date of this dividend is Friday, August 2nd. Northwest Bancshares’s dividend payout ratio is presently 77.67%.

Insider Buying and Selling

In related news, EVP Devin T. Cygnar sold 3,843 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $11.08, for a total value of $42,580.44. Following the sale, the executive vice president now owns 11,823 shares in the company, valued at $130,998.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Northwest Bancshares news, EVP Devin T. Cygnar sold 3,843 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $11.08, for a total transaction of $42,580.44. Following the transaction, the executive vice president now owns 11,823 shares in the company, valued at $130,998.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Douglas M. Schosser acquired 7,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were purchased at an average price of $14.19 per share, for a total transaction of $99,330.00. Following the transaction, the chief financial officer now directly owns 46,347 shares of the company’s stock, valued at $657,663.93. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 12,114 shares of company stock worth $156,179. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on NWBI shares. Piper Sandler lowered their price target on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price target (down previously from $13.00) on shares of Northwest Bancshares in a report on Tuesday, April 23rd.

About Northwest Bancshares

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