Northwest Bancshares (NASDAQ:NWBI) Hits New 1-Year High - Here's Why

Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $14.69 and last traded at $14.69, with a volume of 25877 shares traded. The stock had previously closed at $13.40.

Northwest Bancshares Stock Up 14.0 %

The company has a 50-day moving average of $13.36 and a 200-day moving average of $12.40. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 20.11 and a beta of 0.62.

Northwest Bancshares (NASDAQ:NWBI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The savings and loans company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The firm had revenue of $199.21 million for 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 quarter in the prior year, the company posted $0.31 earnings per share. On average, equities analysts predict that Northwest Bancshares, Inc. will post 1.02 earnings per share for the current fiscal year.

Northwest Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, November 8th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.24%. Northwest Bancshares's dividend payout ratio is currently 105.26%.

Institutional Investors Weigh In On Northwest Bancshares

A number of large investors have recently made changes to their positions in the stock. Empowered Funds LLC lifted its position in Northwest Bancshares by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 343,459 shares of the savings and loans company's stock worth $4,595,000 after acquiring an additional 17,420 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Northwest Bancshares by 12.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,601 shares of the savings and loans company's stock worth $1,023,000 after purchasing an additional 8,413 shares during the period. International Assets Investment Management LLC boosted its position in Northwest Bancshares by 1,238.0% in the third quarter. International Assets Investment Management LLC now owns 5,459 shares of the savings and loans company's stock valued at $73,000 after buying an additional 5,051 shares during the last quarter. Creative Planning increased its holdings in Northwest Bancshares by 7.2% in the 3rd quarter. Creative Planning now owns 12,699 shares of the savings and loans company's stock worth $170,000 after buying an additional 851 shares during the period. Finally, CWM LLC increased its holdings in Northwest Bancshares by 51.5% in the 3rd quarter. CWM LLC now owns 10,897 shares of the savings and loans company's stock worth $146,000 after buying an additional 3,702 shares during the period. 66.32% of the stock is owned by hedge funds and other institutional investors.

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.