Northwest Bancshares, Inc. (NASDAQ:NWBI) Shares Acquired by 6 Meridian

6 Meridian increased its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 71.3% during the third quarter, Holdings Channel reports. The fund owned 46,644 shares of the savings and loans company’s stock after purchasing an additional 19,411 shares during the quarter. 6 Meridian’s holdings in Northwest Bancshares were worth $764,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in NWBI. Cambridge Investment Research Advisors Inc. grew its position in Northwest Bancshares by 2.1% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 29,964 shares of the savings and loans company’s stock valued at $528,000 after buying an additional 626 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in Northwest Bancshares by 1.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 40,709 shares of the savings and loans company’s stock valued at $717,000 after buying an additional 700 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Northwest Bancshares by 2.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 39,600 shares of the savings and loans company’s stock valued at $695,000 after buying an additional 800 shares in the last quarter. Carroll Financial Associates Inc. grew its position in Northwest Bancshares by 4.0% in the 3rd quarter. Carroll Financial Associates Inc. now owns 35,749 shares of the savings and loans company’s stock valued at $585,000 after buying an additional 1,363 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in Northwest Bancshares by 3.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 50,434 shares of the savings and loans company’s stock valued at $887,000 after buying an additional 1,660 shares in the last quarter. 70.83% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Sonia M. Probst sold 7,030 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $17.53, for a total transaction of $123,235.90. Following the completion of the transaction, the director now owns 47,686 shares in the company, valued at approximately $835,935.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

NASDAQ:NWBI opened at $17.13 on Friday. Northwest Bancshares, Inc. has a twelve month low of $15.46 and a twelve month high of $18.81. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $16.47 and a 200-day moving average of $16.88. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 16.79 and a beta of 0.68.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings data on Monday, October 21st. The savings and loans company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.05. Northwest Bancshares had a net margin of 21.99% and a return on equity of 8.65%. The company had revenue of $117.11 million during the quarter, compared to analyst estimates of $116.30 million. On average, research analysts forecast that Northwest Bancshares, Inc. will post 1.03 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 4.20%. Northwest Bancshares’s dividend payout ratio (DPR) is 70.59%.

A number of equities analysts recently issued reports on NWBI shares. Zacks Investment Research upgraded shares of Northwest Bancshares from a “strong sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine lowered shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, BidaskClub upgraded shares of Northwest Bancshares from a “strong sell” rating to a “sell” rating in a research report on Tuesday.

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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Institutional Ownership by Quarter for Northwest Bancshares (NASDAQ:NWBI)

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