Naples Global Advisors LLC Purchases 3,400 Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI)

Posted by on Mar 30th, 2023

Naples Global Advisors LLC raised its position in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI – Get Rating) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,100 shares of the savings and loans company’s stock after purchasing an additional 3,400 shares during the quarter. Naples Global Advisors LLC’s holdings in Northwest Bancshares were worth $561,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NWBI. Quadrant Capital Group LLC lifted its position in shares of Northwest Bancshares by 274.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,523 shares of the savings and loans company’s stock valued at $34,000 after buying an additional 1,850 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new position in shares of Northwest Bancshares during the 3rd quarter valued at about $35,000. Captrust Financial Advisors lifted its position in shares of Northwest Bancshares by 97.9% during the 1st quarter. Captrust Financial Advisors now owns 8,984 shares of the savings and loans company’s stock valued at $121,000 after buying an additional 4,445 shares in the last quarter. Truist Financial Corp purchased a new position in shares of Northwest Bancshares during the 3rd quarter valued at about $137,000. Finally, CNB Bank lifted its position in shares of Northwest Bancshares by 94.7% during the 3rd quarter. CNB Bank now owns 11,308 shares of the savings and loans company’s stock valued at $153,000 after buying an additional 5,500 shares in the last quarter. 64.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, March 10th.

Insider Buying and Selling

In related news, EVP Mark T. Reitzes bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 25th. The shares were purchased at an average cost of $13.38 per share, with a total value of $26,760.00. Following the completion of the acquisition, the executive vice president now directly owns 30,511 shares in the company, valued at $408,237.18. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Mark T. Reitzes bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 25th. The shares were purchased at an average cost of $13.38 per share, with a total value of $26,760.00. Following the completion of the acquisition, the executive vice president now directly owns 30,511 shares in the company, valued at $408,237.18. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John P. Meegan sold 7,200 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders purchased 4,729 shares of company stock worth $61,686 in the last three months. 1.10% of the stock is owned by insiders.

Northwest Bancshares Stock Up 0.2 %

Shares of NWBI opened at $12.30 on Thursday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 11.83 and a beta of 0.59. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.96 and a quick ratio of 0.96. The business’s 50 day simple moving average is $13.53 and its 200-day simple moving average is $14.04. Northwest Bancshares, Inc. has a 1 year low of $11.73 and a 1 year high of $15.35.

Northwest Bancshares (NASDAQ:NWBI – Get Rating) last announced its quarterly earnings data on Monday, January 23rd. The savings and loans company reported $0.30 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 business had revenue of $155.71 million during the quarter, compared to the consensus estimate of $142.80 million. As a group, equities analysts expect that Northwest Bancshares, Inc. will post 1.15 earnings per share for the current fiscal year.

Northwest Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Thursday, February 2nd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date was Wednesday, February 1st. Northwest Bancshares’s dividend payout ratio (DPR) is currently 76.92%.

About Northwest Bancshares

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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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