Jackson Creek Investment Advisors LLC Purchases New Position in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Jackson Creek Investment Advisors LLC acquired a new stake in Northwest Bancshares, Inc. (NASDAQ:NWBI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 84,857 shares of the savings and loans company's stock, valued at approximately $1,059,000. Jackson Creek Investment Advisors LLC owned approximately 0.07% of Northwest Bancshares at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. lifted its position in Northwest Bancshares by 4.9% in the 3rd quarter. Invesco Ltd. now owns 4,917,212 shares of the savings and loans company's stock valued at $50,303,000 after acquiring an additional 230,058 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Northwest Bancshares by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,503,007 shares of the savings and loans company's stock valued at $35,836,000 after purchasing an additional 138,879 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of Northwest Bancshares during the third quarter valued at approximately $745,000. Louisiana State Employees Retirement System bought a new stake in Northwest Bancshares during the fourth quarter worth $794,000. Finally, SG Americas Securities LLC purchased a new stake in Northwest Bancshares in the 3rd quarter valued at $574,000. 66.32% of the stock is currently owned by institutional investors and hedge funds.

Northwest Bancshares Stock Performance

NWBI stock traded down $0.14 during midday trading on Tuesday, hitting $10.60. The company's stock had a trading volume of 757,635 shares, compared to its average volume of 807,855. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 10.29 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 0.42. The stock's 50-day moving average price is $11.20 and its 200 day moving average price is $11.52. Northwest Bancshares, Inc. has a 1 year low of $9.80 and a 1 year high of $13.07.

Northwest Bancshares (NASDAQ:NWBI - Get Free Report) last released its earnings results on Monday, April 22nd. The savings and loans company reported $0.23 EPS for the quarter, hitting analysts' consensus estimates of $0.23. The company had revenue of $188.20 million for the quarter, compared to analysts' expectations of $132.80 million. Northwest Bancshares had a return on equity of 8.77% and a net margin of 17.84%. On average, equities analysts forecast that Northwest Bancshares, Inc. will post 0.92 EPS for the current year.

Northwest Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.55%. The ex-dividend date is Wednesday, May 1st. Northwest Bancshares's dividend payout ratio is currently 77.67%.

Analysts Set New Price Targets

NWBI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $12.00 price objective (down 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 on the stock 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.