Northwestern Mutual Wealth Management Co. Raises Stock Holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 66.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,769 shares of the savings and loans company’s stock after buying an additional 2,304 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Northwest Bancshares were worth $67,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC lifted its stake in 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 acquiring an additional 1,420 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Northwest Bancshares during the second quarter worth about $61,000. CWM LLC lifted its position in shares of Northwest Bancshares by 45.5% during the second quarter. CWM LLC now owns 7,195 shares of the savings and loans company’s stock worth $83,000 after purchasing an additional 2,249 shares in the last quarter. IVC Wealth Advisors LLC purchased a new position in shares of Northwest Bancshares in the first quarter valued at approximately $124,000. Finally, Sei Investments Co. acquired a new position in shares of Northwest Bancshares in the second quarter valued at approximately $140,000. 66.32% of the stock is currently owned by institutional investors and hedge funds.

Northwest Bancshares Stock Performance

Shares of NWBI stock opened at $13.27 on Friday. The firm has a 50 day moving average of $13.23 and a two-hundred day moving average of $12.10. The stock has a market capitalization of $1.69 billion, a PE ratio of 12.88 and a beta of 0.62. The company has a quick ratio of 0.95, a current 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 announced its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $133.77 million. On average, research analysts predict that Northwest Bancshares, Inc. will post 0.97 EPS 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 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 dividend yield of 6.03%. Northwest Bancshares’s payout ratio is 77.67%.

Insider Buying and Selling

In related news, COO William W. Harvey sold 13,614 shares of Northwest Bancshares stock in a transaction that occurred on Friday, July 26th. The shares were 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 in the company, valued at $2,953,722.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director John P. Meegan sold 7,200 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $14.16, for a total transaction of $101,952.00. Following the sale, the director now owns 76,324 shares of the company’s stock, valued at approximately $1,080,747.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO William W. Harvey sold 13,614 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $14.18, for a total value of $193,046.52. Following the sale, the chief operating officer now owns 208,302 shares of the company’s stock, valued at approximately $2,953,722.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

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.