Rhumbline Advisers Decreases Holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Rhumbline Advisers trimmed its stake in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,803 shares of the savings and loans company’s stock after selling 6,984 shares during the period. Rhumbline Advisers owned 0.32% of Northwest Bancshares worth $4,745,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Northwest Bancshares by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 14,959,190 shares of the savings and loans company’s stock worth $186,691,000 after purchasing an additional 54,526 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Northwest Bancshares by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,712,088 shares of the savings and loans company’s stock worth $108,729,000 after purchasing an additional 90,425 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Northwest Bancshares by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,581,520 shares of the savings and loans company’s stock worth $44,697,000 after purchasing an additional 78,513 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Northwest Bancshares by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,684,609 shares of the savings and loans company’s stock worth $19,457,000 after purchasing an additional 15,405 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Northwest Bancshares by 3,568.5% in the 4th quarter. Hsbc Holdings PLC now owns 580,655 shares of the savings and loans company’s stock worth $7,298,000 after purchasing an additional 564,827 shares in the last quarter. 66.32% of the stock is currently owned by hedge funds and other institutional investors.

Northwest Bancshares Trading Up 2.3 %

NASDAQ:NWBI opened at $13.33 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 12.94 and a beta of 0.62. Northwest Bancshares, Inc. has a one year low of $9.80 and a one year high of $14.55. The business has a fifty day moving average price of $13.21 and a 200-day moving average price of $11.85.

Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings results on Tuesday, July 23rd. The savings and loans company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Northwest Bancshares had a return on equity of 8.72% and a net margin of 14.28%. The business had revenue of $97.99 million during the quarter, compared to analyst estimates of $133.77 million. Sell-side analysts forecast that Northwest Bancshares, Inc. will post 0.97 EPS for the current year.

Northwest Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 6.00%. Northwest Bancshares’s payout ratio is presently 77.67%.

Insiders Place Their Bets

In other Northwest Bancshares news, CFO Douglas M. Schosser purchased 7,000 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was acquired at an average price of $14.19 per share, for a total transaction of $99,330.00. Following the purchase, the chief financial officer now owns 46,347 shares of the company’s stock, valued at approximately $657,663.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO William W. Harvey sold 13,614 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $14.18, for a total transaction of $193,046.52. Following the completion of the transaction, the chief operating officer now owns 208,302 shares in the company, valued at $2,953,722.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Douglas M. Schosser acquired 7,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were purchased at an average price of $14.19 per share, with a total value of $99,330.00. Following the transaction, the chief financial officer now owns 46,347 shares of the company’s stock, valued at $657,663.93. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

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.