Asset Management One Co. Ltd. Trims Position in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Asset Management One Co. Ltd. lowered its stake in Northwest Bancshares, Inc. (NASDAQ:NWBI - Free Report) by 53.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,874 shares of the savings and loans company's stock after selling 100,012 shares during the period. Asset Management One Co. Ltd. owned approximately 0.07% of Northwest Bancshares worth $1,104,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of NWBI. Money Concepts Capital Corp bought a new position in shares of Northwest Bancshares in the fourth quarter worth $26,000. Compass Wealth Management LLC acquired a new stake in Northwest Bancshares in the fourth quarter valued at about $35,000. Coppell Advisory Solutions Corp. acquired a new stake in Northwest Bancshares in the fourth quarter valued at about $46,000. Point72 Middle East FZE acquired a new stake in Northwest Bancshares in the fourth quarter valued at about $63,000. Finally, Tower Research Capital LLC TRC boosted its stake in Northwest Bancshares by 891.5% in the first quarter. Tower Research Capital LLC TRC now owns 6,802 shares of the savings and loans company's stock valued at $82,000 after buying an additional 6,116 shares in the last quarter. Institutional investors own 66.32% of the company's stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their price objective on Northwest Bancshares from $12.00 to $13.00 and gave the company a "market perform" rating in a research note on Tuesday, January 23rd.

Northwest Bancshares Trading Up 0.2 %

Shares of NWBI stock traded up $0.02 during mid-day trading on Friday, reaching $10.82. 593,218 shares of the stock traded hands, compared to its average volume of 977,070. The stock's fifty day simple moving average is $11.43 and its two-hundred day simple moving average is $11.47. Northwest Bancshares, Inc. has a 1-year low of $9.80 and a 1-year high of $13.07. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 10.21 and a beta of 0.60. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.41.

Northwest Bancshares (NASDAQ:NWBI - Get Free Report) last issued its quarterly earnings data on Monday, January 22nd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.24. The company had revenue of $186.56 million during the quarter, compared to the consensus estimate of $133.06 million. Northwest Bancshares had a return on equity of 9.21% and a net margin of 19.23%. On average, research analysts anticipate that Northwest Bancshares, Inc. will post 0.95 EPS for the current fiscal year.

Northwest Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.39%. Northwest Bancshares's dividend payout ratio is 75.47%.

Insider Activity

In related news, EVP Scott J. Watson bought 5,000 shares of the business's stock in a transaction that occurred on Wednesday, January 24th. The shares were bought at an average price of $12.90 per share, with a total value of $64,500.00. Following the completion of the transaction, the executive vice president now directly owns 35,282 shares in the company, valued at $455,137.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

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.