Northwest Bancshares Inc. (NWBI) Director Philip M. Tredway Sells 9,750 Shares of Stock
Northwest Bancshares Inc. (NASDAQ:NWBI) Director Philip M. Tredway sold 9,750 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $17.81, for a total transaction of $173,647.50. Following the completion of the transaction, the director now owns 35,384 shares of the company’s stock, valued at approximately $630,189.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Northwest Bancshares Inc. (NASDAQ:NWBI) traded up 0.16% during trading on Wednesday, hitting $18.23. 104,605 shares of the stock traded hands. The stock has a market cap of $1.85 billion, a P/E ratio of 44.46 and a beta of 0.55. Northwest Bancshares Inc. has a 52 week low of $11.77 and a 52 week high of $18.27. The firm’s 50-day moving average is $16.19 and its 200 day moving average is $15.26.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Thursday, November 3rd were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, November 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.30%. Northwest Bancshares’s payout ratio is presently 146.35%.
Several hedge funds and other institutional investors have recently modified their holdings of NWBI. Emerald Acquisition Ltd. bought a new position in shares of Northwest Bancshares during the second quarter worth about $15,232,000. BlackRock Fund Advisors boosted its position in 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 in the last quarter. Nordea Investment Management AB acquired a new position in Northwest Bancshares during the third quarter worth about $8,672,000. Citadel Advisors LLC boosted its position in Northwest Bancshares by 3,942.9% in the second quarter. Citadel Advisors LLC now owns 546,728 shares of the company’s stock worth $8,108,000 after buying an additional 533,205 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Northwest Bancshares by 34,605.3% in the third quarter. JPMorgan Chase & Co. now owns 402,928 shares of the company’s stock worth $6,330,000 after buying an additional 401,767 shares in the last quarter. 66.90% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on the stock. 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 report on Friday, October 28th. FBR & Co raised their price objective 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 raised their price objective 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.
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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