Northwest Bancshares, Inc. (NASDAQ:NWBI) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,540 shares of the savings and loans company’s stock after purchasing an additional 6,666 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Northwest Bancshares worth $930,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NWBI. Invesco Ltd. raised its position in Northwest Bancshares by 4.9% during the 3rd quarter. Invesco Ltd. now owns 4,917,212 shares of the savings and loans company’s stock worth $50,303,000 after buying an additional 230,058 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Northwest Bancshares by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,503,007 shares of the savings and loans company’s stock worth $35,836,000 after purchasing an additional 138,879 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in Northwest Bancshares during the third quarter worth about $745,000. SG Americas Securities LLC acquired a new stake in Northwest Bancshares in the third quarter valued at about $574,000. Finally, Dark Forest Capital Management LP boosted its holdings in Northwest Bancshares by 278.7% in the 3rd quarter. Dark Forest Capital Management LP now owns 56,677 shares of the savings and loans company’s stock valued at $580,000 after purchasing an additional 41,710 shares in the last quarter. 66.32% of the stock is owned by institutional investors and hedge funds.

Northwest Bancshares Price Performance

Northwest Bancshares stock opened at $11.00 on Wednesday. The firm has a market capitalization of $1.40 billion, a PE ratio of 10.38 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 0.41. The firm’s 50-day simple moving average is $11.30 and its 200 day simple moving average is $11.50. Northwest Bancshares, Inc. has a 52 week low of $9.80 and a 52 week high of $13.07.

Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. Northwest Bancshares had a net margin of 19.23% and a return on equity of 9.21%. The company had revenue of $188.20 million for the quarter, compared to analyst estimates of $132.80 million. On average, equities research analysts predict that Northwest Bancshares, Inc. will post 0.95 EPS for the current fiscal year.

Northwest Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date is Wednesday, May 1st. Northwest Bancshares’s dividend payout ratio is currently 75.47%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NWBI. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $12.00 target price (down from $13.00) on shares of Northwest Bancshares in a research note on Tuesday. Piper Sandler cut their price objective on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday.

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.