Robeco Institutional Asset Management B.V. Has $24.37 Million Stake in Northwest Bancshares, Inc. (NWBI)
Robeco Institutional Asset Management B.V. lifted its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 16.7% during the 2nd quarter, Holdings Channel reports. The firm owned 1,401,522 shares of the savings and loans company’s stock after buying an additional 200,572 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Northwest Bancshares were worth $24,372,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Northwest Bancshares during the 2nd quarter worth about $377,000. First Trust Advisors LP grew its holdings in Northwest Bancshares by 4.8% during the 2nd quarter. First Trust Advisors LP now owns 1,569,131 shares of the savings and loans company’s stock worth $27,287,000 after acquiring an additional 71,534 shares during the last quarter. Virtu Financial LLC bought a new stake in Northwest Bancshares during the 2nd quarter worth about $246,000. Bessemer Group Inc. grew its holdings in Northwest Bancshares by 0.8% during the 2nd quarter. Bessemer Group Inc. now owns 418,944 shares of the savings and loans company’s stock worth $7,286,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Unigestion Holding SA bought a new stake in Northwest Bancshares during the 2nd quarter worth about $3,958,000. 68.62% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on NWBI. BidaskClub upgraded shares of Northwest Bancshares from a “hold” rating to a “buy” rating in a research report on Thursday, April 26th. Zacks Investment Research upgraded shares of Northwest Bancshares from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Wednesday, June 20th. Finally, Boenning Scattergood began coverage on shares of Northwest Bancshares in a research report on Monday, July 23rd. They set a “hold” rating on the stock.
Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Thursday, July 26th. The savings and loans company reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25. Northwest Bancshares had a net margin of 21.20% and a return on equity of 8.06%. The company had revenue of $108.34 million for the quarter, compared to the consensus estimate of $108.20 million. analysts forecast that Northwest Bancshares, Inc. will post 1.01 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 16th. Shareholders of record on Thursday, August 2nd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, August 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.82%. Northwest Bancshares’s payout ratio is presently 80.95%.
In related news, insider William J. Wagner sold 66,713 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $17.84, for a total value of $1,190,159.92. Following the sale, the insider now directly owns 210,088 shares in the company, valued at approximately $3,747,969.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William W. Harvey sold 13,714 shares of the stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $18.09, for a total transaction of $248,086.26. Following the completion of the sale, the chief financial officer now owns 159,613 shares in the company, valued at $2,887,399.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,962 shares of company stock worth $2,737,838. Corporate insiders own 2.20% of the company’s stock.
Northwest Bancshares Company Profile
Northwest Bancshares, Inc operates as a bank holding company for Northwest Savings Bank that offers various personal and business banking solutions in the United States. The company offers personal and business deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts.
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