New York State Common Retirement Fund reduced its holdings in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 15.1% during the third quarter, HoldingsChannel.com reports. The fund owned 86,111 shares of the savings and loans company’s stock after selling 15,364 shares during the quarter. New York State Common Retirement Fund’s holdings in Northwest Bancshares were worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Citigroup Inc. lifted its holdings in Northwest Bancshares by 307.9% during the second quarter. Citigroup Inc. now owns 73,908 shares of the savings and loans company’s stock worth $1,007,000 after acquiring an additional 55,787 shares during the period. Stifel Financial Corp raised its stake in shares of Northwest Bancshares by 12.7% in the second quarter. Stifel Financial Corp now owns 229,830 shares of the savings and loans company’s stock valued at $3,135,000 after buying an additional 25,872 shares during the period. Renaissance Technologies LLC raised its stake in shares of Northwest Bancshares by 47.2% in the second quarter. Renaissance Technologies LLC now owns 224,614 shares of the savings and loans company’s stock valued at $3,064,000 after buying an additional 72,021 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Northwest Bancshares by 25.8% in the second quarter. Goldman Sachs Group Inc. now owns 1,621,184 shares of the savings and loans company’s stock valued at $22,113,000 after buying an additional 332,640 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Northwest Bancshares by 6.6% in the second quarter. UBS Asset Management Americas Inc. now owns 120,387 shares of the savings and loans company’s stock valued at $1,642,000 after buying an additional 7,460 shares during the period. Institutional investors and hedge funds own 60.42% of the company’s stock.
In related news, Director John P. Meegan sold 7,200 shares of the business’s stock in a transaction dated Thursday, October 28th. The stock was sold at an average price of $13.93, for a total transaction of $100,296.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William W. Harvey sold 14,400 shares of the business’s stock in a transaction dated Wednesday, October 27th. The stock was sold at an average price of $14.14, for a total value of $203,616.00. The disclosure for this sale can be found here. Over the last quarter, insiders bought 11,476 shares of company stock valued at $152,521 and sold 46,304 shares valued at $654,323. 0.80% of the stock is currently owned by insiders.
Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings results on Sunday, October 24th. The savings and loans company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.05. The company had revenue of $127.61 million during the quarter, compared to analysts’ expectations of $128.23 million. Northwest Bancshares had a return on equity of 10.36% and a net margin of 27.70%. On average, sell-side analysts predict that Northwest Bancshares, Inc. will post 1.08 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 15th. Stockholders of record on Friday, November 5th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.33%. The ex-dividend date was Thursday, November 4th. Northwest Bancshares’s dividend payout ratio (DPR) is presently 64.00%.
Separately, Zacks Investment Research lowered Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, January 5th.
Northwest Bancshares Profile
Northwest Bancshares, Inc is a holding company. It offers personal & business banking products including employee benefits, investment management services, insurance and trust. It engages in collecting deposits and making loans secured by various types of collateral, including real estate and other assets.
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