MetLife Investment Management LLC Acquires 2,330 Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI)

Posted by on Mar 2nd, 2023

MetLife Investment Management LLC increased its holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI – Get Rating) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,088 shares of the savings and loans company’s stock after buying an additional 2,330 shares during the period. MetLife Investment Management LLC owned 0.05% of Northwest Bancshares worth $879,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp grew its holdings in shares of Northwest Bancshares by 59.4% during the 1st quarter. State Street Corp now owns 8,048,444 shares of the savings and loans company’s stock worth $108,734,000 after purchasing an additional 2,999,249 shares in the last quarter. Cambria Investment Management L.P. bought a new position in Northwest Bancshares in the 3rd quarter valued at about $4,931,000. Dimensional Fund Advisors LP raised its position in shares of Northwest Bancshares by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,116,084 shares of the savings and loans company’s stock valued at $109,649,000 after buying an additional 328,495 shares in the last quarter. Invesco Ltd. boosted its position in shares of Northwest Bancshares by 8.7% during the 1st quarter. Invesco Ltd. now owns 3,966,563 shares of the savings and loans company’s stock worth $53,588,000 after acquiring an additional 316,431 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Northwest Bancshares by 2.1% in the first quarter. Vanguard Group Inc. now owns 13,896,726 shares of the savings and loans company’s stock valued at $187,745,000 after acquiring an additional 284,414 shares during the last quarter. 64.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, February 7th.

Insider Activity

In related news, Director John P. Meegan sold 7,200 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $14.25, for a total value of $102,600.00. Following the sale, the director now directly owns 68,496 shares in the company, valued at $976,068. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John P. Meegan sold 7,200 shares of the business’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $14.25, for a total value of $102,600.00. Following the transaction, the director now owns 68,496 shares in the company, valued at $976,068. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Mark T. Reitzes acquired 2,000 shares of the company’s stock in a transaction dated Wednesday, January 25th. The stock was acquired at an average cost of $13.38 per share, for a total transaction of $26,760.00. Following the completion of the purchase, the executive vice president now directly owns 30,511 shares in the company, valued at $408,237.18. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Northwest Bancshares Trading Down 0.6 %

NASDAQ NWBI opened at $13.74 on Thursday. Northwest Bancshares, Inc. has a twelve month low of $12.04 and a twelve month high of $15.35. The business’s fifty day moving average is $14.00 and its 200 day moving average is $14.25. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.62. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 13.21 and a beta of 0.60.

Northwest Bancshares (NASDAQ:NWBI – Get Rating) last released its quarterly earnings data on Monday, January 23rd. The savings and loans company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.01). Northwest Bancshares had a net margin of 23.88% and a return on equity of 9.16%. The firm had revenue of $155.71 million during the quarter, compared to analyst estimates of $142.80 million. As a group, sell-side analysts expect that Northwest Bancshares, Inc. will post 1.17 EPS for the current fiscal year.

Northwest Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Shareholders of record on Thursday, February 2nd were given a $0.20 dividend. The ex-dividend date was Wednesday, February 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.82%. Northwest Bancshares’s dividend payout ratio (DPR) is presently 76.92%.

Northwest Bancshares Profile

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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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Institutional Ownership by Quarter for Northwest Bancshares (NASDAQ:NWBI)

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