Northwest Bancshares Inc. (NWBI) CFO Sells $164,826.50 in Stock
Northwest Bancshares Inc. (NASDAQ:NWBI) CFO William W. Harvey sold 9,286 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $17.75, for a total transaction of $164,826.50. Following the completion of the sale, the chief financial officer now owns 143,158 shares of the company’s stock, valued at approximately $2,541,054.50. The transaction was disclosed in a filing with the SEC, which is available through this link.
Northwest Bancshares Inc. (NASDAQ:NWBI) traded down 0.56% during trading on Wednesday, reaching $17.79. 568,545 shares of the company traded hands. The company’s 50-day moving average price is $15.86 and its 200 day moving average price is $15.12. Northwest Bancshares Inc. has a 52 week low of $11.77 and a 52 week high of $18.15. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 43.39 and a beta of 0.55.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 17th. Shareholders of record on Thursday, November 3rd will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.37%. The ex-dividend date is Tuesday, November 1st. Northwest Bancshares’s dividend payout ratio is currently 146.35%.
Several research firms have recently issued reports on NWBI. Zacks Investment Research upgraded shares of Northwest Bancshares from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Friday, October 28th. FBR & Co increased their price target on shares of Northwest Bancshares from $15.00 to $16.00 and gave the company a “mkt perform” rating in a research report on Wednesday, October 26th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Northwest Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Tuesday, September 13th.
A number of institutional investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. purchased a new position in shares of Northwest Bancshares during the second quarter valued at approximately $15,232,000. BlackRock Fund Advisors raised 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 valued at $115,782,000 after buying an additional 807,120 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of Northwest Bancshares during the third quarter valued at approximately $8,672,000. Citadel Advisors LLC raised its position in shares of Northwest Bancshares by 3,942.9% in the second quarter. Citadel Advisors LLC now owns 546,728 shares of the company’s stock valued at $8,108,000 after buying an additional 533,205 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Northwest Bancshares by 34,605.3% in the third quarter. JPMorgan Chase & Co. now owns 402,928 shares of the company’s stock valued at $6,330,000 after buying an additional 401,767 shares in the last quarter. 67.51% of the stock is owned by institutional investors and hedge funds.
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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