IVC Wealth Advisors LLC Purchases New Shares in Northwest Bancshares, Inc. (NASDAQ:NWBI)

IVC Wealth Advisors LLC purchased a new position in Northwest Bancshares, Inc. (NASDAQ:NWBI) during the first quarter, Holdings Channel.com reports. The firm purchased 10,650 shares of the savings and loans company’s stock, valued at approximately $124,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG increased its stake in shares of Northwest Bancshares by 13.8% in the third quarter. Deutsche Bank AG now owns 62,121 shares of the savings and loans company’s stock worth $635,000 after acquiring an additional 7,530 shares during the last quarter. Mariner LLC raised its stake in shares of Northwest Bancshares by 4.3% during the 3rd quarter. Mariner LLC now owns 86,588 shares of the savings and loans company’s stock worth $886,000 after purchasing an additional 3,585 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Northwest Bancshares by 5.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 18,241 shares of the savings and loans company’s stock valued at $187,000 after buying an additional 989 shares during the last quarter. Denali Advisors LLC acquired a new stake in shares of Northwest Bancshares during the 4th quarter valued at about $253,000. Finally, International Assets Investment Management LLC grew its stake in shares of Northwest Bancshares by 1,148.0% in the 4th quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loans company’s stock valued at $64,000 after buying an additional 4,684 shares in the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

Northwest Bancshares Stock Performance

NWBI opened at $11.42 on Thursday. The stock has a 50-day moving average of $11.02 and a 200-day moving average of $11.51. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.96. Northwest Bancshares, Inc. has a 52-week low of $9.80 and a 52-week high of $13.07. The company has a market cap of $1.45 billion, a PE ratio of 11.09 and a beta of 0.64.

Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings results on Monday, April 22nd. The savings and loans company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.77%. The company had revenue of $188.20 million for the quarter, compared to analyst estimates of $132.80 million. As a group, equities research analysts forecast that Northwest Bancshares, Inc. will post 0.92 earnings per share for the current fiscal year.

Northwest Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, May 2nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date of this dividend was Wednesday, May 1st. Northwest Bancshares’s dividend payout ratio is 77.67%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NWBI shares. Piper Sandler reduced their target price on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $12.00 price target (down previously from $13.00) on shares of Northwest Bancshares in a report on Tuesday, April 23rd.

Insider Buying and Selling at Northwest Bancshares

In other Northwest Bancshares news, Director Timothy M. Hunter purchased 10,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were bought at an average cost of $11.30 per share, with a total value of $113,000.00. Following the transaction, the director now directly owns 161,474 shares in the company, valued at approximately $1,824,656.20. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Devin T. Cygnar sold 3,843 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $11.08, for a total value of $42,580.44. Following the completion of the transaction, the executive vice president now directly owns 11,823 shares in the company, valued at $130,998.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy M. Hunter purchased 10,000 shares of the stock in a transaction on Thursday, May 16th. The stock was acquired at an average cost of $11.30 per share, for a total transaction of $113,000.00. Following the acquisition, the director now directly owns 161,474 shares in the company, valued at $1,824,656.20. The disclosure for this purchase can be found here. Insiders sold 5,433 shares of company stock worth $59,858 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Northwest Bancshares 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.