Northwest Bancshares, Inc. (NASDAQ:NWBI) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 22.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,683 shares of the savings and loans company’s stock after purchasing an additional 5,012 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Northwest Bancshares were worth $323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC grew its position in shares of Northwest Bancshares by 164.6% in the 4th quarter. CWM LLC now owns 4,918 shares of the savings and loans company’s stock worth $61,000 after acquiring an additional 3,059 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Northwest Bancshares by 1,148.0% in 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 purchasing an additional 4,684 shares during the period. First Merchants Corp acquired a new position in Northwest Bancshares in the fourth quarter worth $126,000. Courier Capital LLC increased its stake in Northwest Bancshares by 10.2% during the first quarter. Courier Capital LLC now owns 13,576 shares of the savings and loans company’s stock valued at $158,000 after purchasing an additional 1,253 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of Northwest Bancshares by 5.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 18,241 shares of the savings and loans company’s stock worth $187,000 after purchasing an additional 989 shares during the period. 66.32% of the stock is owned by institutional investors.

Northwest Bancshares Stock Performance

NWBI stock opened at $11.42 on Thursday. Northwest Bancshares, Inc. has a 1 year low of $9.80 and a 1 year high of $13.07. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 11.09 and a beta of 0.64. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.96. The stock’s fifty day moving average is $11.02 and its two-hundred day moving average is $11.51.

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

Northwest Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 2nd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date of this dividend was Wednesday, May 1st. Northwest Bancshares’s dividend payout ratio (DPR) is 77.67%.

Analyst Upgrades and Downgrades

NWBI has been the subject of several research reports. Piper Sandler decreased their price target on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 target price (down from $13.00) on shares of Northwest Bancshares in a report on Tuesday, April 23rd.

Insider Activity at Northwest Bancshares

In other Northwest Bancshares news, Director Timothy M. Hunter purchased 10,000 shares of Northwest Bancshares stock in a transaction on Thursday, May 16th. The stock was bought at an average price of $11.30 per share, for a total transaction of $113,000.00. Following the transaction, the director now owns 161,474 shares of the company’s stock, valued at approximately $1,824,656.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Northwest Bancshares news, EVP Devin T. Cygnar sold 3,843 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $11.08, for a total transaction of $42,580.44. Following the transaction, the executive vice president now owns 11,823 shares of the company’s stock, valued at approximately $130,998.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy M. Hunter purchased 10,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were bought at an average price of $11.30 per share, for a total transaction of $113,000.00. Following the completion of the transaction, the director now directly owns 161,474 shares in the company, valued at approximately $1,824,656.20. The disclosure for this purchase can be found here. Insiders have sold a total of 5,433 shares of company stock worth $59,858 in the last three months. 1.00% of the stock is owned by company insiders.

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.