The Manufacturers Life Insurance Company Purchases 2,779 Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI)

The Manufacturers Life Insurance Company grew its position in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,434 shares of the savings and loans company’s stock after acquiring an additional 2,779 shares during the period. The Manufacturers Life Insurance Company owned about 0.05% of Northwest Bancshares worth $767,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NWBI. Nisa Investment Advisors LLC raised its stake in Northwest Bancshares by 93.7% in the second 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 in the last quarter. Innealta Capital LLC bought a new position in Northwest Bancshares in the second quarter worth about $61,000. CWM LLC raised its stake in Northwest Bancshares by 45.5% in the second quarter. CWM LLC now owns 7,195 shares of the savings and loans company’s stock worth $83,000 after buying an additional 2,249 shares in the last quarter. IVC Wealth Advisors LLC bought a new position in Northwest Bancshares in the first quarter worth about $124,000. Finally, Sei Investments Co. bought a new position in Northwest Bancshares in the second quarter worth about $140,000. 66.32% of the stock is owned by institutional investors.

Northwest Bancshares Price Performance

Shares of NASDAQ NWBI opened at $13.41 on Tuesday. Northwest Bancshares, Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $14.55. The company has a 50 day simple moving average of $13.24 and a two-hundred day simple moving average of $12.12. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 13.02 and a beta of 0.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.95 and a current ratio of 0.95.

Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. Northwest Bancshares had a net margin of 14.28% and a return on equity of 8.72%. The business had revenue of $97.99 million during the quarter, compared to the consensus estimate of $133.77 million. Analysts expect that Northwest Bancshares, Inc. will post 0.97 EPS for the current fiscal year.

Northwest Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date of this dividend was Friday, August 2nd. Northwest Bancshares’s payout ratio is 77.67%.

Insider Activity

In other news, COO William W. Harvey sold 13,614 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $14.18, for a total transaction of $193,046.52. Following the sale, the chief operating officer now owns 208,302 shares in the company, valued at $2,953,722.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Douglas M. Schosser bought 7,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were bought at an average price of $14.19 per share, for a total transaction of $99,330.00. Following the completion of the acquisition, the chief financial officer now owns 46,347 shares of the company’s stock, valued at $657,663.93. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO William W. Harvey sold 13,614 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $14.18, for a total transaction of $193,046.52. Following the completion of the sale, the chief operating officer now owns 208,302 shares in the company, valued at $2,953,722.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Northwest Bancshares Company 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.