Advisors Asset Management Inc. cut its stake in shares of Northwest Bancshares Inc. (NASDAQ:NWBI) by 41.6% during the third quarter, Holdings Channel reports. The fund owned 52,172 shares of the company’s stock after selling 37,238 shares during the period. Advisors Asset Management Inc. owned 0.05% of Northwest Bancshares worth $820,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in NWBI. Emerald Acquisition Ltd. purchased a new stake in shares of Northwest Bancshares during the second quarter valued at approximately $15,232,000. Citadel Advisors LLC boosted its stake in shares of Northwest Bancshares by 3,942.9% in the second quarter. Citadel Advisors LLC now owns 546,728 shares of the company’s stock valued at $8,108,000 after buying an additional 533,205 shares during the last quarter. BlackRock Advisors LLC boosted its stake in shares of Northwest Bancshares by 101.9% in the second quarter. BlackRock Advisors LLC now owns 771,668 shares of the company’s stock valued at $11,444,000 after buying an additional 389,523 shares during the last quarter. Credit Suisse AG boosted its stake in shares of Northwest Bancshares by 137.0% in the second quarter. Credit Suisse AG now owns 563,231 shares of the company’s stock valued at $8,353,000 after buying an additional 325,614 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Northwest Bancshares by 3.9% in the second quarter. Vanguard Group Inc. now owns 7,933,196 shares of the company’s stock valued at $117,650,000 after buying an additional 298,521 shares during the last quarter. 66.90% of the stock is owned by institutional investors and hedge funds.
Northwest Bancshares Inc. (NASDAQ:NWBI) traded up 0.66% during midday trading on Friday, reaching $18.37. The company had a trading volume of 222,437 shares. The company has a market cap of $1.86 billion, a PE ratio of 44.80 and a beta of 0.55. Northwest Bancshares Inc. has a 52-week low of $11.77 and a 52-week high of $18.38. The company’s 50-day moving average is $16.36 and its 200 day moving average is $15.31.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Tuesday, November 1st. Northwest Bancshares’s dividend payout ratio is currently 146.35%.
NWBI has been the subject of several analyst reports. Zacks Investment Research lowered Northwest Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, October 29th. FBR & Co boosted their target price on Northwest Bancshares from $15.00 to $16.00 and gave the stock a “mkt perform” rating in a report on Wednesday, October 26th. Finally, Keefe, Bruyette & Woods boosted their target price on Northwest Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Tuesday, September 13th.
In other news, CFO William W. Harvey sold 9,286 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $17.75, for a total transaction of $164,826.50. Following the sale, the chief financial officer now owns 143,158 shares of the company’s stock, valued at $2,541,054.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Philip M. Tredway sold 9,750 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $17.81, for a total value of $173,647.50. Following the sale, the director now directly owns 35,384 shares in the company, valued at approximately $630,189.04. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
About Northwest Bancshares
Northwest Bancshares, Inc (Northwest) is a savings and loan holding company. The Company’s principal business consists of attracting deposits and making loans secured by various types of collateral, including real estate and other assets in the markets in which it operates. Its subsidiary, Northwest Bank, is a Pennsylvania-chartered stock savings bank.