Jonathan P. Scalise Sells 8,720 Shares of Northwest Bancshares Inc. (NWBI) Stock
Northwest Bancshares Inc. (NASDAQ:NWBI) EVP Jonathan P. Scalise sold 8,720 shares of the stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $17.98, for a total transaction of $156,785.60. Following the sale, the executive vice president now directly owns 19,723 shares of the company’s stock, valued at approximately $354,619.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Northwest Bancshares Inc. (NASDAQ:NWBI) traded down 0.56% during mid-day trading on Wednesday, hitting $17.79. 568,545 shares of the stock were exchanged. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 43.39 and a beta of 0.55. Northwest Bancshares Inc. has a 52-week low of $11.77 and a 52-week high of $18.15. The company has a 50 day moving average price of $15.86 and a 200 day moving average price of $15.12.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 17th. Investors of record on Thursday, November 3rd will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Tuesday, November 1st. Northwest Bancshares’s dividend payout ratio (DPR) is currently 146.35%.
A number of research analysts have issued reports on NWBI shares. Keefe, Bruyette & Woods raised their price target on shares of Northwest Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Tuesday, September 13th. Zacks Investment Research cut shares of Northwest Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, October 29th. Finally, FBR & Co raised their price target on shares of Northwest Bancshares from $15.00 to $16.00 and gave the stock a “mkt perform” rating in a report on Wednesday, October 26th.
Several hedge funds and other institutional investors have recently made changes to their positions in NWBI. Dimensional Fund Advisors LP boosted its position in shares of Northwest Bancshares by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 8,633,199 shares of the company’s stock worth $128,029,000 after buying an additional 235,158 shares during the period. Vanguard Group Inc. boosted its position in shares of Northwest Bancshares by 3.9% in the second quarter. Vanguard Group Inc. now owns 7,933,196 shares of the company’s stock worth $117,650,000 after buying an additional 298,521 shares during the period. BlackRock Fund Advisors boosted its position in shares of Northwest Bancshares by 12.3% in the third quarter. BlackRock Fund Advisors now owns 7,369,940 shares of the company’s stock worth $115,782,000 after buying an additional 807,120 shares during the period. Wellington Management Group LLP boosted its position in shares of Northwest Bancshares by 5.6% in the first quarter. Wellington Management Group LLP now owns 6,078,818 shares of the company’s stock worth $82,124,000 after buying an additional 320,294 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Northwest Bancshares by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,690,116 shares of the company’s stock worth $42,262,000 after buying an additional 20,615 shares during the period. Hedge funds and other institutional investors own 67.51% of the company’s stock.
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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