HBK Sorce Advisory LLC Grows Stock Holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI)

HBK Sorce Advisory LLC grew its holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 12.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,203 shares of the savings and loans company’s stock after acquiring an additional 2,091 shares during the period. HBK Sorce Advisory LLC’s holdings in Northwest Bancshares were worth $222,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in Northwest Bancshares by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,581,520 shares of the savings and loans company’s stock valued at $44,697,000 after purchasing an additional 78,513 shares during the period. Teacher Retirement System of Texas lifted its position in Northwest Bancshares by 291.5% during the 4th quarter. Teacher Retirement System of Texas now owns 61,674 shares of the savings and loans company’s stock worth $770,000 after acquiring an additional 45,922 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Northwest Bancshares by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,712,088 shares of the savings and loans company’s stock worth $108,729,000 after acquiring an additional 90,425 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in Northwest Bancshares in the 4th quarter worth approximately $1,051,000. Finally, Norges Bank acquired a new stake in Northwest Bancshares in the fourth quarter valued at approximately $7,107,000. Institutional investors and hedge funds own 66.32% of the company’s stock.

Northwest Bancshares Trading Up 2.3 %

NASDAQ NWBI opened at $13.33 on Monday. The stock has a market cap of $1.70 billion, a P/E ratio of 12.94 and a beta of 0.62. The company’s fifty day simple moving average is $13.21 and its 200-day simple moving average is $11.85. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.31. Northwest Bancshares, Inc. has a 52 week low of $9.80 and a 52 week high of $14.55.

Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The firm had revenue of $97.99 million for the quarter, compared to analyst estimates of $133.77 million. Northwest Bancshares had a net margin of 14.28% and a return on equity of 8.72%. Equities research analysts predict that Northwest Bancshares, Inc. will post 0.97 EPS for the current fiscal year.

Northwest Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 6.00%. Northwest Bancshares’s dividend payout ratio (DPR) is presently 77.67%.

Insiders Place Their Bets

In other news, COO William W. Harvey sold 13,614 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $14.18, for a total transaction of $193,046.52. Following the completion of the transaction, the chief operating officer now directly owns 208,302 shares in the company, valued at approximately $2,953,722.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director John P. Meegan sold 7,200 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $14.16, for a total value of $101,952.00. Following the sale, the director now owns 76,324 shares in the company, valued at approximately $1,080,747.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO William W. Harvey sold 13,614 shares of Northwest Bancshares stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $14.18, for a total value of $193,046.52. Following the completion of the transaction, the chief operating officer now owns 208,302 shares of the company’s stock, valued at $2,953,722.36. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

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.