Victory Capital Management Inc. Sells 72,053 Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI)

Victory Capital Management Inc. cut its stake in Northwest Bancshares, Inc. (NASDAQ:NWBI) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,958,897 shares of the savings and loans company’s stock after selling 72,053 shares during the period. Victory Capital Management Inc. owned 2.33% of Northwest Bancshares worth $39,590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of NWBI. American Century Companies Inc. raised its stake in shares of 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 acquiring an additional 732,172 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of 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 acquiring an additional 218,158 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of 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 acquiring an additional 126,384 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of 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 acquiring an additional 29,324 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of Northwest Bancshares in the first quarter worth about $328,000. 66.32% of the stock is owned by institutional investors.

Northwest Bancshares Trading Up 0.5 %

NWBI opened at $14.72 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 19.29 and a beta of 0.62. The firm has a 50 day simple moving average of $13.49 and a 200 day simple moving average of $12.55. Northwest Bancshares, Inc. has a fifty-two week low of $10.45 and a fifty-two week high of $15.35.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings results on Tuesday, October 29th. The savings and loans company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The business had revenue of $199.21 million during the quarter, compared to the consensus estimate of $140.80 million. Northwest Bancshares had a net margin of 13.19% and a return on equity of 8.24%. During the same period in the previous year, the firm posted $0.31 earnings per share. On average, sell-side analysts anticipate that Northwest Bancshares, Inc. will post 1.02 earnings per share for the current year.

Northwest Bancshares Dividend Announcement

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

Wall Street Analyst Weigh In

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

Northwest Bancshares Company 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.