LPL Financial LLC Raises Stake in Northwest Bancshares, Inc. (NASDAQ:NWBI)

LPL Financial LLC increased its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 9.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 71,440 shares of the savings and loans company’s stock after purchasing an additional 5,996 shares during the period. LPL Financial LLC owned 0.06% of Northwest Bancshares worth $757,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NWBI. Money Concepts Capital Corp purchased a new stake in shares of Northwest Bancshares in the 4th quarter valued at about $26,000. Compass Wealth Management LLC purchased a new stake in shares of Northwest Bancshares in the 4th quarter valued at about $35,000. Spire Wealth Management raised its holdings in shares of Northwest Bancshares by 86.5% in the 1st quarter. Spire Wealth Management now owns 3,059 shares of the savings and loans company’s stock valued at $37,000 after acquiring an additional 1,419 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in shares of Northwest Bancshares in the 4th quarter valued at about $46,000. Finally, Point72 Middle East FZE purchased a new stake in shares of Northwest Bancshares in the 4th quarter valued at about $63,000. Hedge funds and other institutional investors own 65.21% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Northwest Bancshares in a report on Thursday, October 5th. They issued a “sell” rating on the stock.

Insider Buying and Selling

In related news, EVP Devin T. Cygnar purchased 13,692 shares of Northwest Bancshares stock in a transaction that occurred on Tuesday, November 7th. The shares were acquired at an average cost of $10.96 per share, for a total transaction of $150,064.32. Following the transaction, the executive vice president now directly owns 13,692 shares in the company, valued at $150,064.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Devin T. Cygnar purchased 13,692 shares of Northwest Bancshares stock in a transaction that occurred on Tuesday, November 7th. The shares were acquired at an average cost of $10.96 per share, for a total transaction of $150,064.32. Following the transaction, the executive vice president now directly owns 13,692 shares in the company, valued at $150,064.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey J. Maddigan purchased 9,600 shares of Northwest Bancshares stock in a transaction that occurred on Wednesday, September 13th. The shares were bought at an average price of $10.47 per share, for a total transaction of $100,512.00. Following the completion of the transaction, the executive vice president now owns 35,126 shares in the company, valued at $367,769.22. The disclosure for this purchase can be found here. Insiders have purchased a total of 24,644 shares of company stock worth $265,543 in the last ninety days. 1.10% of the stock is owned by insiders.

Northwest Bancshares Price Performance

Shares of Northwest Bancshares stock opened at $11.20 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1.42 billion, a PE ratio of 10.18 and a beta of 0.59. The business’s 50-day moving average price is $10.49 and its 200-day moving average price is $10.94. Northwest Bancshares, Inc. has a 12 month low of $9.80 and a 12 month high of $15.35.

Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Monday, October 23rd. The savings and loans company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.24 by $0.07. The firm had revenue of $182.49 million for the quarter, compared to analyst estimates of $135.31 million. Northwest Bancshares had a return on equity of 9.76% and a net margin of 20.96%. Sell-side analysts forecast that Northwest Bancshares, Inc. will post 1.09 EPS for the current fiscal year.

Northwest Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Thursday, November 2nd were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, November 1st. This represents a $0.80 annualized dividend and a yield of 7.14%. Northwest Bancshares’s payout ratio is 72.73%.

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.