Cambria Investment Management L.P. lowered its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 25.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 8,820 shares of the savings and loans company’s stock after selling 3,080 shares during the quarter. Cambria Investment Management L.P.’s holdings in Northwest Bancshares were worth $150,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in NWBI. US Bancorp DE grew its position in shares of Northwest Bancshares by 118.1% during the first quarter. US Bancorp DE now owns 1,985 shares of the savings and loans company’s stock worth $34,000 after buying an additional 1,075 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in shares of Northwest Bancshares during the fourth quarter worth approximately $39,000. Bank of Montreal Can grew its position in shares of Northwest Bancshares by 13.9% during the fourth quarter. Bank of Montreal Can now owns 5,588 shares of the savings and loans company’s stock worth $94,000 after buying an additional 683 shares in the last quarter. Sciencast Management LP acquired a new stake in shares of Northwest Bancshares during the first quarter worth approximately $198,000. Finally, HRT Financial LLC acquired a new stake in shares of Northwest Bancshares during the fourth quarter worth approximately $215,000. 73.96% of the stock is owned by institutional investors and hedge funds.
NWBI has been the subject of a number of recent analyst reports. Boenning Scattergood reissued a “neutral” rating on shares of Northwest Bancshares in a research report on Wednesday, April 17th. Zacks Investment Research downgraded shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, March 13th. Finally, BidaskClub downgraded shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, April 5th.
Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings data on Wednesday, April 17th. The savings and loans company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The business had revenue of $109.64 million during the quarter, compared to analyst estimates of $110.59 million. Northwest Bancshares had a return on equity of 8.48% and a net margin of 22.08%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. On average, analysts anticipate that Northwest Bancshares, Inc. will post 1.1 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Wednesday, May 1st. Northwest Bancshares’s dividend payout ratio is presently 70.59%.
In other Northwest Bancshares news, Director Timothy M. Hunter acquired 4,000 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was purchased at an average price of $17.15 per share, with a total value of $68,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Shawn O. Walker sold 1,780 shares of Northwest Bancshares stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $18.68, for a total transaction of $33,250.40. Following the completion of the transaction, the executive vice president now directly owns 35,412 shares of the company’s stock, valued at approximately $661,496.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,380 shares of company stock valued at $231,110. 1.40% of the stock is currently owned by corporate insiders.
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Northwest Bancshares Company 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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