Raymond James Financial Services Advisors Inc. Has $217,000 Position in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Raymond James Financial Services Advisors Inc. lowered its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 10.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,412 shares of the savings and loans company’s stock after selling 2,073 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Northwest Bancshares were worth $217,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in Northwest Bancshares during the third quarter worth $574,000. Cambridge Investment Research Advisors Inc. lifted its stake in Northwest Bancshares by 40.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 17,021 shares of the savings and loans company’s stock worth $174,000 after purchasing an additional 4,945 shares during the last quarter. Raymond James & Associates lifted its stake in Northwest Bancshares by 11.4% during the third quarter. Raymond James & Associates now owns 34,584 shares of the savings and loans company’s stock worth $354,000 after purchasing an additional 3,540 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Northwest Bancshares by 6.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,874 shares of the savings and loans company’s stock worth $694,000 after purchasing an additional 3,961 shares during the last quarter. Finally, Northwest Bancshares Inc. lifted its stake in Northwest Bancshares by 0.4% during the third quarter. Northwest Bancshares Inc. now owns 338,068 shares of the savings and loans company’s stock worth $3,458,000 after purchasing an additional 1,211 shares during the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

Northwest Bancshares Stock Down 0.5 %

Shares of NWBI opened at $10.94 on Thursday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 10.62 and a beta of 0.60. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.95 and a current ratio of 0.96. Northwest Bancshares, Inc. has a 52 week low of $9.80 and a 52 week high of $13.07. The stock has a fifty day moving average of $11.29 and a 200-day moving average of $11.50.

Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The business had revenue of $188.20 million during the quarter, compared to analyst estimates of $132.80 million. Northwest Bancshares had a return on equity of 8.81% and a net margin of 17.84%. As a group, sell-side analysts anticipate that Northwest Bancshares, Inc. will post 0.95 earnings per share for the current fiscal year.

Northwest Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, May 2nd will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 1st. This represents a $0.80 dividend on an annualized basis and a yield of 7.31%. Northwest Bancshares’s payout ratio is currently 77.67%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Piper Sandler cut their target price on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday. Keefe, Bruyette & Woods restated a “market perform” rating and set a $12.00 target price (down from $13.00) on shares of Northwest Bancshares in a research note on Tuesday.

Northwest Bancshares Company Profile

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.