Insider Selling: Northwest Bancshares Inc. (NWBI) EVP Sells 10,607 Shares of Stock
Northwest Bancshares Inc. (NASDAQ:NWBI) EVP Gerald J. Ritzert sold 10,607 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $17.58, for a total value of $186,471.06. Following the completion of the sale, the executive vice president now owns 144,298 shares of the company’s stock, valued at $2,536,758.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Northwest Bancshares Inc. (NASDAQ:NWBI) traded down 0.56% during mid-day trading on Wednesday, reaching $17.79. The company had a trading volume of 568,545 shares. Northwest Bancshares Inc. has a 12 month low of $11.77 and a 12 month high of $18.15. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 43.39 and a beta of 0.55. The firm’s 50 day moving average price is $15.86 and its 200-day moving average price is $15.12.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 17th. Investors of record on Thursday, November 3rd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, November 1st. This represents a $0.60 annualized dividend and a yield of 3.37%. Northwest Bancshares’s payout ratio is 146.35%.
NWBI has been the subject of several research analyst reports. FBR & Co raised their price objective on Northwest Bancshares from $14.00 to $15.00 and gave the stock a “mkt perform” rating in a research note on Tuesday, July 26th. Zacks Investment Research upgraded Northwest Bancshares from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a research note on Thursday, July 28th. Finally, Keefe, Bruyette & Woods raised their price objective on Northwest Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 13th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NWBI. Vantage Investment Advisors LLC boosted its position in Northwest Bancshares by 30.6% in the third quarter. Vantage Investment Advisors LLC now owns 7,994 shares of the company’s stock valued at $126,000 after buying an additional 1,875 shares during the last quarter. BlackRock Inc. boosted its position in Northwest Bancshares by 68.9% in the first quarter. BlackRock Inc. now owns 9,827 shares of the company’s stock valued at $133,000 after buying an additional 4,009 shares during the last quarter. Creative Planning boosted its position in Northwest Bancshares by 12.8% in the third quarter. Creative Planning now owns 8,449 shares of the company’s stock valued at $133,000 after buying an additional 959 shares in the last quarter. GW Henssler & Associates Ltd. acquired a new position in Northwest Bancshares during the second quarter valued at about $155,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in Northwest Bancshares during the second quarter valued at about $164,000. 67.51% of the stock is owned by hedge funds and other institutional investors.
About Northwest Bancshares
Northwest Bancshares, Inc (Northwest) is a savings and loan holding company. The Company’s principal business consists of attracting deposits and making loans secured by various types of collateral, including real estate and other assets in the markets in which it operates. Its subsidiary, Northwest Bank, is a Pennsylvania-chartered stock savings bank.
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