Wesbanco Bank Inc. Lowers Stake in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Wesbanco Bank Inc. decreased its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,417 shares of the savings and loans company’s stock after selling 800 shares during the quarter. Wesbanco Bank Inc.’s holdings in Northwest Bancshares were worth $273,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in shares of Northwest Bancshares by 93.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,935 shares of the savings and loans company’s stock valued at $34,000 after buying an additional 1,420 shares during the period. Innealta Capital LLC purchased a new stake in Northwest Bancshares during the second quarter worth about $61,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Northwest Bancshares by 66.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,769 shares of the savings and loans company’s stock worth $67,000 after purchasing an additional 2,304 shares in the last quarter. CWM LLC boosted its stake in shares of Northwest Bancshares by 45.5% in the second quarter. CWM LLC now owns 7,195 shares of the savings and loans company’s stock valued at $83,000 after purchasing an additional 2,249 shares during the period. Finally, IVC Wealth Advisors LLC acquired a new position in shares of Northwest Bancshares in the first quarter valued at approximately $124,000. 66.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Northwest Bancshares

In other news, CFO Douglas M. Schosser bought 7,000 shares of Northwest Bancshares stock in a transaction that occurred on Thursday, July 25th. The shares were purchased at an average price of $14.19 per share, with a total value of $99,330.00. Following the completion of the acquisition, the chief financial officer now directly owns 46,347 shares in the company, valued at $657,663.93. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO William W. Harvey sold 13,614 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,953,722.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Douglas M. Schosser bought 7,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were acquired at an average cost of $14.19 per share, for a total transaction of $99,330.00. Following the transaction, the chief financial officer now directly owns 46,347 shares in the company, valued at approximately $657,663.93. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Northwest Bancshares Price Performance

Shares of NWBI opened at $13.73 on Thursday. The company has a market cap of $1.75 billion, a P/E ratio of 13.33 and a beta of 0.62. Northwest Bancshares, Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $14.55. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average price is $13.28 and its 200 day moving average price is $12.14.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.27 earnings per share 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 analyst estimates of $133.77 million. Northwest Bancshares had a return on equity of 8.72% and a net margin of 14.28%. On average, research analysts forecast that Northwest Bancshares, Inc. will post 0.97 earnings per share for the current fiscal year.

Northwest Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend was Friday, August 2nd. Northwest Bancshares’s payout ratio is presently 77.67%.

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.