21,739 Shares in Northwest Bancshares, Inc. (NASDAQ:NWBI) Bought by Intech Investment Management LLC

Intech Investment Management LLC acquired a new position in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 21,739 shares of the savings and loans company’s stock, valued at approximately $251,000.

Several other institutional investors and hedge funds have also modified their holdings of NWBI. Nisa Investment Advisors LLC lifted its position 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 buying an additional 1,420 shares during the last quarter. Innealta Capital LLC acquired a new position in Northwest Bancshares in the 2nd quarter worth about $61,000. CWM LLC increased its holdings in Northwest Bancshares by 45.5% in the 2nd 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 acquired a new position in Northwest Bancshares in the 1st quarter worth about $124,000. Finally, Courier Capital LLC increased its holdings in Northwest Bancshares by 10.2% in the 1st quarter. Courier Capital LLC now owns 13,576 shares of the savings and loans company’s stock worth $158,000 after purchasing an additional 1,253 shares in the last quarter. 66.32% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director John P. Meegan sold 7,200 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $14.16, for a total value of $101,952.00. Following the completion of the sale, the director now owns 76,324 shares of the company’s stock, valued at $1,080,747.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director John P. Meegan sold 7,200 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $14.16, for a total value of $101,952.00. Following the completion of the sale, the director now owns 76,324 shares of the company’s stock, valued at $1,080,747.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO William W. Harvey sold 13,614 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 208,302 shares of the company’s stock, valued at approximately $2,953,722.36. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Northwest Bancshares Price Performance

Shares of NWBI opened at $13.18 on Friday. Northwest Bancshares, Inc. has a 12-month low of $9.80 and a 12-month high of $14.55. The business has a 50-day simple moving average of $13.40 and a two-hundred day simple moving average of $11.97. 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 stock has a market cap of $1.68 billion, a PE ratio of 12.80 and a beta of 0.62.

Northwest Bancshares (NASDAQ:NWBI) last issued its 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 during the quarter, compared to analysts’ expectations of $133.77 million. Analysts anticipate that Northwest Bancshares, Inc. will post 0.97 earnings per share for the current fiscal year.

Northwest Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were issued a $0.20 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 6.07%. Northwest Bancshares’s 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.