Courier Capital LLC Buys 1,253 Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI)

Courier Capital LLC raised its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 10.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 13,576 shares of the savings and loans company’s stock after acquiring an additional 1,253 shares during the period. Courier Capital LLC’s holdings in Northwest Bancshares were worth $158,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Northwest Bancshares during the 4th quarter valued at about $7,107,000. Hsbc Holdings PLC increased its position in shares of Northwest Bancshares by 3,568.5% during the 4th quarter. Hsbc Holdings PLC now owns 580,655 shares of the savings and loans company’s stock valued at $7,298,000 after purchasing an additional 564,827 shares during the last quarter. Verition Fund Management LLC increased its position in shares of Northwest Bancshares by 2,299.6% during the 4th quarter. Verition Fund Management LLC now owns 418,013 shares of the savings and loans company’s stock valued at $5,217,000 after purchasing an additional 400,593 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Northwest Bancshares by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,712,088 shares of the savings and loans company’s stock valued at $108,729,000 after purchasing an additional 90,425 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC purchased a new stake in shares of Northwest Bancshares during the 4th quarter valued at about $1,059,000. Institutional investors own 66.32% of the company’s stock.

Insider Buying and Selling at Northwest Bancshares

In other Northwest Bancshares news, EVP Devin T. Cygnar sold 3,843 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $11.08, for a total value of $42,580.44. Following the sale, the executive vice president now directly owns 11,823 shares of the company’s stock, valued at $130,998.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Devin T. Cygnar sold 3,843 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $11.08, for a total value of $42,580.44. Following the transaction, the executive vice president now owns 11,823 shares in the company, valued at $130,998.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy M. Hunter bought 10,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was purchased at an average price of $11.30 per share, for a total transaction of $113,000.00. Following the transaction, the director now owns 161,474 shares of the company’s stock, valued at $1,824,656.20. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 5,433 shares of company stock valued at $59,858. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NWBI shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $12.00 target price (down from $13.00) on shares of Northwest Bancshares in a report on Tuesday, April 23rd. Piper Sandler cut their price objective on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, April 23rd.

Northwest Bancshares Trading Up 2.8 %

NWBI stock traded up $0.31 during midday trading on Friday, reaching $11.55. The company’s stock had a trading volume of 1,521,025 shares, compared to its average volume of 734,378. The stock has a fifty day simple moving average of $10.98 and a two-hundred day simple moving average of $11.54. Northwest Bancshares, Inc. has a 1 year low of $9.80 and a 1 year high of $13.07. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 10.91 and a beta of 0.64.

Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. The business had revenue of $188.20 million during the quarter, compared to the consensus estimate of $132.80 million. Northwest Bancshares had a return on equity of 8.77% and a net margin of 17.84%. On average, equities research analysts predict that Northwest Bancshares, Inc. will post 0.92 EPS for the current year.

Northwest Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, May 2nd were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, May 1st. This represents a $0.80 dividend on an annualized basis and a yield of 6.93%. Northwest Bancshares’s dividend payout ratio is currently 77.67%.

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.