Hsbc Holdings PLC Sells 84,174 Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI)

Hsbc Holdings PLC trimmed its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI - Free Report) by 85.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,408 shares of the savings and loans company's stock after selling 84,174 shares during the quarter. Hsbc Holdings PLC's holdings in Northwest Bancshares were worth $166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV increased its position in shares of Northwest Bancshares by 7.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,238 shares of the savings and loans company's stock worth $361,000 after purchasing an additional 2,081 shares in the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of Northwest Bancshares by 12.2% during the second quarter. HBK Sorce Advisory LLC now owns 19,203 shares of the savings and loans company's stock worth $222,000 after buying an additional 2,091 shares in the last quarter. 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 valued at $14,159,000 after acquiring an additional 732,172 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of Northwest Bancshares by 5.1% in the 2nd quarter. Texas Permanent School Fund Corp now owns 116,877 shares of the savings and loans company's stock worth $1,350,000 after acquiring an additional 5,632 shares in the last quarter. Finally, Allegheny Financial Group LTD boosted its holdings in shares of Northwest Bancshares by 60.4% in the 2nd quarter. Allegheny Financial Group LTD now owns 19,358 shares of the savings and loans company's stock worth $224,000 after acquiring an additional 7,291 shares in the last quarter. 66.32% of the stock is currently owned by institutional investors.

Northwest Bancshares Price Performance

NWBI stock traded up $0.13 during midday trading on Friday, reaching $12.99. 507,202 shares of the company's stock traded hands, compared to its average volume of 730,245. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.31. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 12.61 and a beta of 0.62. The company has a 50-day simple moving average of $13.31 and a two-hundred day simple moving average of $12.05. Northwest Bancshares, Inc. has a 1-year low of $9.80 and a 1-year high of $14.55.

Northwest Bancshares (NASDAQ:NWBI - Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The savings and loans company reported $0.27 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $133.77 million. On average, analysts anticipate that Northwest Bancshares, Inc. will post 0.97 earnings per share for the current year.

Northwest Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date of this dividend was Friday, August 2nd. Northwest Bancshares's dividend payout ratio is currently 77.67%.

Insider Buying and Selling

In other news, Director John P. Meegan sold 7,200 shares of the company's stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $14.16, for a total transaction of $101,952.00. Following the transaction, the director now owns 76,324 shares of the company's stock, valued at $1,080,747.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Northwest Bancshares news, CFO Douglas M. Schosser bought 7,000 shares of the company's stock in a transaction on Thursday, July 25th. The stock was bought at an average price of $14.19 per share, for a total transaction of $99,330.00. Following the transaction, the chief financial officer now owns 46,347 shares of the company's stock, valued at approximately $657,663.93. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Meegan sold 7,200 shares of the firm's stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $14.16, for a total value of $101,952.00. Following the completion of the transaction, the director now owns 76,324 shares in the company, valued at $1,080,747.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate 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.