Cwm LLC Has $83,000 Stock Holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Cwm LLC increased its position in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 45.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,195 shares of the savings and loans company’s stock after purchasing an additional 2,249 shares during the quarter. Cwm LLC’s holdings in Northwest Bancshares were worth $83,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in NWBI. International Assets Investment Management LLC increased its position in shares of Northwest Bancshares by 1,148.0% during the 4th quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loans company’s stock worth $64,000 after purchasing an additional 4,684 shares in the last quarter. IVC Wealth Advisors LLC acquired a new stake in shares of Northwest Bancshares during the 1st quarter worth about $124,000. Courier Capital LLC increased its position in shares of Northwest Bancshares by 10.2% during 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. Bank & Trust Co acquired a new stake in shares of Northwest Bancshares during the 2nd quarter worth about $172,000. Finally, Diversified Trust Co acquired a new stake in shares of Northwest Bancshares during the 1st quarter worth about $175,000. Institutional investors and hedge funds own 66.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NWBI. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $12.00 target price (down previously from $13.00) on shares of Northwest Bancshares in a research report on Tuesday, April 23rd. Piper Sandler decreased their price objective on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, April 23rd.

Northwest Bancshares Stock Up 1.5 %

Shares of NASDAQ:NWBI opened at $13.22 on Monday. Northwest Bancshares, Inc. has a 12 month low of $9.80 and a 12 month high of $14.55. The company’s 50-day moving average price is $12.25 and its two-hundred day moving average price is $11.60. 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 firm has a market cap of $1.68 billion, a P/E ratio of 12.83 and a beta of 0.64.

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, beating the consensus estimate of $0.23 by $0.04. The company had revenue of $97.99 million for the quarter, compared to analyst estimates of $133.77 million. Northwest Bancshares had a net margin of 14.28% and a return on equity of 8.72%. As a group, research analysts forecast that Northwest Bancshares, Inc. will post 0.92 EPS for the current fiscal year.

Northwest Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 6.05%. The ex-dividend date of this dividend was Friday, August 2nd. Northwest Bancshares’s dividend payout ratio (DPR) is presently 77.67%.

Insider Activity

In other news, Director John P. Meegan sold 7,200 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $14.16, for a total value of $101,952.00. Following the transaction, the director now owns 76,324 shares of the company’s stock, valued at approximately $1,080,747.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Douglas M. Schosser purchased 7,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were acquired at an average cost of $14.19 per share, for a total transaction of $99,330.00. Following the transaction, the chief financial officer now directly owns 46,347 shares of the company’s stock, valued at approximately $657,663.93. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Meegan sold 7,200 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $14.16, for a total transaction of $101,952.00. Following the completion of the sale, the director now owns 76,324 shares in the company, valued at $1,080,747.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,885 shares of company stock valued at $306,645. 1.10% of the stock is currently owned by insiders.

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.