Wedge Capital Management L L P NC Sells 6,469 Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI)

Wedge Capital Management L L P NC lowered its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 9.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,940 shares of the savings and loans company’s stock after selling 6,469 shares during the period. Wedge Capital Management L L P NC’s holdings in Northwest Bancshares were worth $856,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its stake in shares of Northwest Bancshares by 93.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,935 shares of the savings and loans company’s stock worth $34,000 after purchasing an additional 1,420 shares during the last quarter. Innealta Capital LLC bought a new position in Northwest Bancshares in 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 valued at $67,000 after buying an additional 2,304 shares during the last quarter. CWM LLC boosted its holdings in shares of Northwest Bancshares by 45.5% in the 2nd quarter. CWM LLC now owns 7,195 shares of the savings and loans company’s stock valued at $83,000 after buying an additional 2,249 shares in the last quarter. Finally, IVC Wealth Advisors LLC bought a new stake in shares of Northwest Bancshares in the 1st quarter valued at about $124,000. Institutional investors own 66.32% of the company’s stock.

Insider Transactions at Northwest Bancshares

In related news, CFO Douglas M. Schosser acquired 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was 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 of the company’s stock, valued at $657,663.93. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO William W. Harvey sold 13,614 shares of the 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas M. Schosser bought 7,000 shares of the firm’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 acquisition, the chief financial officer now directly owns 46,347 shares of the company’s stock, valued at approximately $657,663.93. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Northwest Bancshares Trading Up 0.6 %

NASDAQ NWBI opened at $13.81 on Friday. Northwest Bancshares, Inc. has a 52 week low of $9.80 and a 52 week high of $14.55. The company has a 50 day moving average price of $13.29 and a 200 day moving average price of $12.15. 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 has a market cap of $1.76 billion, a PE ratio of 13.41 and a beta of 0.62.

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. Northwest Bancshares had a return on equity of 8.72% and a net margin of 14.28%. The business had revenue of $97.99 million for the quarter, compared to the consensus estimate of $133.77 million. As a group, sell-side analysts forecast that Northwest Bancshares, Inc. will post 0.97 EPS for the current fiscal year.

Northwest Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.79%. The ex-dividend date was Friday, August 2nd. Northwest Bancshares’s dividend 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.