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 - Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,958,897 shares of the savings and loans company's stock after selling 72,053 shares during the quarter. Victory Capital Management Inc. owned about 2.33% of Northwest Bancshares worth $39,590,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in shares of Northwest Bancshares by 93.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,935 shares of the savings and loans company's stock valued at $34,000 after buying an additional 1,420 shares during the period. Innealta Capital LLC bought a new stake in Northwest Bancshares during the 2nd quarter worth approximately $61,000. Northwestern Mutual Wealth Management Co. increased its holdings in Northwest Bancshares by 66.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,769 shares of the savings and loans company's stock worth $67,000 after acquiring an additional 2,304 shares during the period. International Assets Investment Management LLC lifted its stake in Northwest Bancshares by 1,238.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,459 shares of the savings and loans company's stock worth $73,000 after purchasing an additional 5,051 shares in the last quarter. Finally, CWM LLC boosted its holdings in Northwest Bancshares by 45.5% in the 2nd quarter. CWM LLC now owns 7,195 shares of the savings and loans company's stock valued at $83,000 after purchasing an additional 2,249 shares during the period. 66.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Northwest Bancshares from a "sell" rating to a "hold" rating in a report on Tuesday.

Northwest Bancshares Price Performance

Shares of NASDAQ NWBI traded up $0.07 during midday trading on Friday, hitting $14.72. 617,992 shares of the company's stock were exchanged, compared to its average volume of 721,851. 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 business's fifty day moving average price is $13.51 and its two-hundred day moving average price is $12.58. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 19.37 and a beta of 0.62. Northwest Bancshares, Inc. has a 12-month low of $10.45 and a 12-month high of $15.35.

Northwest Bancshares (NASDAQ:NWBI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The savings and loans company reported $0.26 EPS for the quarter, hitting analysts' consensus estimates of $0.26. The business had revenue of $199.21 million during the quarter, compared to analysts' expectations 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 previous year, the company earned $0.31 EPS. As a group, research analysts forecast that Northwest Bancshares, Inc. will post 1.02 EPS for the current fiscal year.

Northwest Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, November 8th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 5.43%. Northwest Bancshares's payout ratio is 105.26%.

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.