Zurcher Kantonalbank Zurich Cantonalbank Has $318,000 Stake in Northwest Bancshares, Inc. (NASDAQ:NWBI)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) by 12.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,452 shares of the savings and loans company’s stock after buying an additional 2,852 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Northwest Bancshares were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Invesco Ltd. boosted its stake in Northwest Bancshares by 4.9% in the third quarter. Invesco Ltd. now owns 4,917,212 shares of the savings and loans company’s stock valued at $50,303,000 after acquiring an additional 230,058 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Northwest Bancshares by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,503,007 shares of the savings and loans company’s stock valued at $35,836,000 after acquiring an additional 138,879 shares during the period. Raymond James & Associates grew its holdings in Northwest Bancshares by 11.4% during the third quarter. Raymond James & Associates now owns 34,584 shares of the savings and loans company’s stock worth $354,000 after purchasing an additional 3,540 shares during the period. Denali Advisors LLC bought a new position in shares of Northwest Bancshares during the 4th quarter worth approximately $253,000. Finally, Illinois Municipal Retirement Fund acquired a new position in shares of Northwest Bancshares in the third quarter valued at $745,000. 66.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Piper Sandler decreased their price objective on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price target (down from $13.00) on shares of Northwest Bancshares in a report on Tuesday, April 23rd.

Northwest Bancshares Stock Performance

Shares of Northwest Bancshares stock opened at $11.07 on Monday. The company has a market cap of $1.41 billion, a P/E ratio of 10.75 and a beta of 0.62. The business has a 50-day moving average price of $11.16 and a two-hundred day moving average price of $11.53. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. Northwest Bancshares, Inc. has a 1-year low of $9.80 and a 1-year high of $13.07.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.77%. The firm had revenue of $188.20 million during the quarter, compared to the consensus estimate of $132.80 million. As a group, analysts anticipate that Northwest Bancshares, Inc. will post 0.92 EPS for the current year.

Northwest Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, May 2nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $0.80 annualized dividend and a yield of 7.23%. Northwest Bancshares’s payout ratio is 77.67%.

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.