Northwest Bancshares, Inc. (NASDAQ:NWBI) Shares Acquired by Cwm LLC

Cwm LLC increased its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 164.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,918 shares of the savings and loans company’s stock after acquiring an additional 3,059 shares during the quarter. Cwm LLC’s holdings in Northwest Bancshares were worth $61,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Northwest Bancshares by 12.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,452 shares of the savings and loans company’s stock worth $318,000 after purchasing an additional 2,852 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Northwest Bancshares in the fourth quarter valued at approximately $794,000. First Merchants Corp purchased a new stake in Northwest Bancshares in the fourth quarter valued at approximately $126,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Northwest Bancshares by 9.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,540 shares of the savings and loans company’s stock valued at $930,000 after acquiring an additional 6,666 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of 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 worth $64,000 after acquiring an additional 4,684 shares during the last quarter. 66.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at Northwest Bancshares

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 sale, the executive vice president now directly owns 11,823 shares in the company, valued at approximately $130,998.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Northwest Bancshares Stock Performance

Shares of NWBI opened at $11.11 on Thursday. The stock has a market capitalization of $1.41 billion, a P/E ratio of 10.79 and a beta of 0.62. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.96. Northwest Bancshares, Inc. has a 1 year low of $9.80 and a 1 year high of $13.07. The company’s fifty day moving average is $11.15 and its two-hundred day moving average is $11.54.

Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. The business had revenue of $188.20 million for the quarter, compared to analyst estimates of $132.80 million. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.77%. On average, sell-side analysts predict that Northwest Bancshares, Inc. will post 0.92 earnings per share for the current year.

Northwest Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be issued a $0.20 dividend. The ex-dividend date is Wednesday, May 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.20%. Northwest Bancshares’s dividend payout ratio is currently 77.67%.

Northwest Bancshares 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.