Northwest Bancshares, Inc. (NWBI) Shares Bought by Verity & Verity LLC

Verity & Verity LLC increased its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 19.4% during the 1st quarter, HoldingsChannel reports. The fund owned 18,770 shares of the savings and loans company’s stock after acquiring an additional 3,050 shares during the period. Verity & Verity LLC’s holdings in Northwest Bancshares were worth $319,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mascoma Wealth Management LLC lifted its stake in shares of Northwest Bancshares by 46.1% in the fourth quarter. Mascoma Wealth Management LLC now owns 20,605 shares of the savings and loans company’s stock valued at $349,000 after buying an additional 6,500 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Northwest Bancshares by 5.3% in the fourth quarter. Two Sigma Advisers LP now owns 141,750 shares of the savings and loans company’s stock valued at $2,401,000 after purchasing an additional 7,193 shares during the last quarter. Martingale Asset Management L P raised its holdings in shares of Northwest Bancshares by 28.1% in the fourth quarter. Martingale Asset Management L P now owns 326,029 shares of the savings and loans company’s stock valued at $5,524,000 after purchasing an additional 71,500 shares during the last quarter. Vanguard Group Inc raised its holdings in shares of Northwest Bancshares by 1.7% in the third quarter. Vanguard Group Inc now owns 9,931,921 shares of the savings and loans company’s stock valued at $172,021,000 after purchasing an additional 163,989 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Northwest Bancshares by 20.4% in the fourth quarter. Rhumbline Advisers now owns 295,914 shares of the savings and loans company’s stock valued at $5,013,000 after purchasing an additional 50,174 shares during the last quarter. 74.25% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ NWBI traded up $0.11 during trading hours on Monday, reaching $17.60. 6,024 shares of the company were exchanged, compared to its average volume of 432,701. Northwest Bancshares, Inc. has a 1 year low of $15.50 and a 1 year high of $18.81. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.02 and a current ratio of 1.00. The company has a market capitalization of $1.83 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 2.27 and a beta of 0.69.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings data on Wednesday, April 17th. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Northwest Bancshares had a return on equity of 8.48% and a net margin of 22.08%. The company had revenue of $109.64 million for the quarter, compared to analysts’ expectations of $110.59 million. During the same quarter last year, the business posted $0.24 EPS. The business’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, analysts forecast that Northwest Bancshares, Inc. will post 1.1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be issued a dividend of $0.18 per share. The ex-dividend date is Wednesday, May 1st. This represents a $0.72 dividend on an annualized basis and a yield of 4.09%. Northwest Bancshares’s dividend payout ratio (DPR) is presently 70.59%.

Several brokerages have recently commented on NWBI. Zacks Investment Research downgraded shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Boenning Scattergood reiterated a “neutral” rating on shares of Northwest Bancshares in a report on Wednesday, April 17th. Finally, BidaskClub downgraded shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a report on Friday, March 15th.

In other Northwest Bancshares news, Director Philip M. Tredway sold 39,210 shares of the stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $17.97, for a total transaction of $704,603.70. Following the completion of the transaction, the director now owns 25,470 shares in the company, valued at $457,695.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert M. Campana sold 11,000 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $17.03, for a total transaction of $187,330.00. The disclosure for this sale can be found here. Insiders have sold 51,990 shares of company stock valued at $925,184 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

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Northwest Bancshares Profile

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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Want to see what other hedge funds are holding NWBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northwest Bancshares, Inc. (NASDAQ:NWBI).

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

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