Amalgamated Bank Cuts Stock Holdings in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Amalgamated Bank lowered its position in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,711 shares of the savings and loans company’s stock after selling 1,090 shares during the quarter. Amalgamated Bank’s holdings in Northwest Bancshares were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of NWBI. American Century Companies Inc. boosted its stake in Northwest Bancshares by 148.3% in the second quarter. American Century Companies Inc. now owns 1,225,917 shares of the savings and loans company’s stock worth $14,159,000 after buying an additional 732,172 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in Northwest Bancshares by 80.8% in the second quarter. Panagora Asset Management Inc. now owns 488,161 shares of the savings and loans company’s stock worth $5,638,000 after buying an additional 218,158 shares in the last quarter. AQR Capital Management LLC boosted its stake in Northwest Bancshares by 710.9% in the second quarter. AQR Capital Management LLC now owns 144,163 shares of the savings and loans company’s stock worth $1,665,000 after buying an additional 126,384 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Northwest Bancshares by 79.8% in the first quarter. BNP Paribas Financial Markets now owns 66,076 shares of the savings and loans company’s stock worth $770,000 after buying an additional 29,324 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in Northwest Bancshares in the first quarter worth approximately $328,000. Hedge funds and other institutional investors own 66.32% of the company’s stock.

Northwest Bancshares Stock Performance

Shares of NWBI stock opened at $14.72 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 0.95. Northwest Bancshares, Inc. has a fifty-two week low of $10.45 and a fifty-two week high of $15.35. The stock has a 50 day moving average price of $13.51 and a two-hundred day moving average price of $12.58. The company has a market capitalization of $1.88 billion, a P/E ratio of 19.37 and a beta of 0.62.

Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Tuesday, October 29th. The savings and loans company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The firm had revenue of $199.21 million during the quarter, compared to the consensus estimate of $140.80 million. Northwest Bancshares had a return on equity of 8.24% and a net margin of 13.19%. During the same quarter in the previous year, the company posted $0.31 earnings per share. Analysts expect that Northwest Bancshares, Inc. will post 1.02 earnings per share for the current year.

Northwest Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.43%. Northwest Bancshares’s dividend payout ratio is presently 105.26%.

Analysts Set New Price Targets

Separately, StockNews.com raised Northwest Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

About Northwest Bancshares

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.