Sequoia Financial Advisors LLC Has $1.67 Million Stock Holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Sequoia Financial Advisors LLC lifted its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 7.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 144,362 shares of the savings and loans company’s stock after buying an additional 10,254 shares during the quarter. Sequoia Financial Advisors LLC owned about 0.11% of Northwest Bancshares worth $1,667,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Courier Capital LLC raised its stake in Northwest Bancshares by 10.2% in the 1st quarter. Courier Capital LLC now owns 13,576 shares of the savings and loans company’s stock worth $158,000 after purchasing an additional 1,253 shares in the last quarter. WBI Investments LLC raised its stake in Northwest Bancshares by 4.6% in the 4th quarter. WBI Investments LLC now owns 32,399 shares of the savings and loans company’s stock worth $404,000 after purchasing an additional 1,416 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in Northwest Bancshares by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 111,245 shares of the savings and loans company’s stock worth $1,296,000 after purchasing an additional 1,446 shares in the last quarter. Capital Investment Advisory Services LLC raised its stake in Northwest Bancshares by 5.0% in the 4th quarter. Capital Investment Advisory Services LLC now owns 31,958 shares of the savings and loans company’s stock worth $399,000 after purchasing an additional 1,536 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in Northwest Bancshares by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 25,695 shares of the savings and loans company’s stock worth $299,000 after purchasing an additional 1,770 shares in the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

Northwest Bancshares Price Performance

NWBI stock traded up $0.12 during trading on Tuesday, reaching $12.81. 110,345 shares of the company were exchanged, compared to its average volume of 742,582. The company has a 50-day moving average of $12.07 and a two-hundred day moving average of $11.60. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 12.32 and a beta of 0.64. Northwest Bancshares, Inc. has a twelve month low of $9.80 and a twelve month high of $14.55. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.95 and a quick ratio of 0.95.

Northwest Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Friday, August 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date of this dividend is Friday, August 2nd. Northwest Bancshares’s dividend payout ratio is 77.67%.

Insider Buying and Selling

In related news, Director Timothy M. Hunter acquired 10,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was acquired at an average cost of $11.30 per share, for a total transaction of $113,000.00. Following the transaction, the director now directly owns 161,474 shares in the company, valued at $1,824,656.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Northwest Bancshares news, COO William W. Harvey sold 13,614 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $14.18, for a total value of $193,046.52. Following the completion of the transaction, the chief operating officer now directly owns 208,302 shares in the company, valued at approximately $2,953,722.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Timothy M. Hunter purchased 10,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was acquired at an average price of $11.30 per share, with a total value of $113,000.00. Following the completion of the transaction, the director now owns 161,474 shares in the company, valued at approximately $1,824,656.20. The disclosure for this purchase can be found here. Insiders sold a total of 21,885 shares of company stock worth $306,645 in the last three months. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NWBI shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price target (down previously from $13.00) on shares of Northwest Bancshares in a report on Tuesday, April 23rd. Piper Sandler cut their price target 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 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.