Texas Permanent School Fund Corp Increases Holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Texas Permanent School Fund Corp lifted its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 5.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 116,877 shares of the savings and loans company’s stock after purchasing an additional 5,632 shares during the period. Texas Permanent School Fund Corp owned 0.09% of Northwest Bancshares worth $1,350,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NWBI. Norges Bank purchased a new stake in shares of Northwest Bancshares in the fourth quarter valued at approximately $7,107,000. Hsbc Holdings PLC lifted its holdings in Northwest Bancshares by 3,568.5% during the fourth quarter. Hsbc Holdings PLC now owns 580,655 shares of the savings and loans company’s stock worth $7,298,000 after buying an additional 564,827 shares during the period. Verition Fund Management LLC lifted its holdings in Northwest Bancshares by 2,299.6% during the fourth quarter. Verition Fund Management LLC now owns 418,013 shares of the savings and loans company’s stock worth $5,217,000 after buying an additional 400,593 shares during the period. Panagora Asset Management Inc. lifted its holdings in Northwest Bancshares by 80.8% during the second quarter. Panagora Asset Management Inc. now owns 488,161 shares of the savings and loans company’s stock worth $5,638,000 after buying an additional 218,158 shares during the period. Finally, Rafferty Asset Management LLC lifted its holdings in Northwest Bancshares by 63.8% during the fourth quarter. Rafferty Asset Management LLC now owns 146,317 shares of the savings and loans company’s stock worth $1,826,000 after buying an additional 57,015 shares during the period. Hedge funds and other institutional investors own 66.32% of the company’s stock.

Northwest Bancshares Stock Performance

Shares of NWBI stock opened at $13.80 on Friday. The business’s fifty day simple moving average is $13.35 and its 200-day simple moving average is $11.90. The company has a market cap of $1.76 billion, a PE ratio of 13.40 and a beta of 0.62. 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 12-month low of $9.80 and a 12-month high of $14.55.

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

Northwest Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.80%. The ex-dividend date was Friday, August 2nd. Northwest Bancshares’s payout ratio is 77.67%.

Insider Activity at Northwest Bancshares

In other news, CFO Douglas M. Schosser bought 7,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were purchased at an average cost of $14.19 per share, with a total value of $99,330.00. Following the transaction, the chief financial officer now directly owns 46,347 shares in the company, valued at $657,663.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Douglas M. Schosser bought 7,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were acquired at an average cost of $14.19 per share, with a total value of $99,330.00. Following the purchase, the chief financial officer now directly owns 46,347 shares in the company, valued at approximately $657,663.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John P. Meegan sold 7,200 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $14.16, for a total transaction of $101,952.00. Following the completion of the transaction, the director now directly owns 76,324 shares in the company, valued at $1,080,747.84. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

About Northwest Bancshares

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.