Northwest Bancshares, Inc. (NWBI) CFO Sells $177,200.00 in Stock
Northwest Bancshares, Inc. (NASDAQ:NWBI) CFO William W. Harvey sold 10,000 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $17.72, for a total value of $177,200.00. Following the completion of the sale, the chief financial officer now owns 151,399 shares of the company’s stock, valued at $2,682,790.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at 17.86 on Friday. Northwest Bancshares, Inc. has a 52 week low of $12.23 and a 52 week high of $19.10. The stock has a market capitalization of $1.82 billion, a PE ratio of 36.45 and a beta of 0.62. The stock has a 50 day moving average price of $17.55 and a 200 day moving average price of $16.62.
Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Monday, January 23rd. The company reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25. Northwest Bancshares had a return on equity of 7.31% and a net margin of 11.46%. Equities analysts forecast that Northwest Bancshares, Inc. will post $0.97 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Thursday, February 2nd were given a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, January 31st. This is a boost from Northwest Bancshares’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.58%. Northwest Bancshares’s dividend payout ratio is 130.61%.
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A number of research firms have commented on NWBI. Zacks Investment Research upgraded Northwest Bancshares from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Friday, October 28th. FBR & Co increased their price target on Northwest Bancshares from $15.00 to $16.00 and gave the company a “mkt perform” rating in a research note on Wednesday, October 26th. Finally, Sandler O’Neill cut Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, December 19th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $16.00.
Several hedge funds have recently made changes to their positions in NWBI. Tyers Asset Management LLC purchased a new stake in shares of Northwest Bancshares during the fourth quarter worth about $143,000. Vantage Investment Advisors LLC boosted its stake in shares of Northwest Bancshares by 30.6% in the third quarter. Vantage Investment Advisors LLC now owns 7,994 shares of the company’s stock worth $126,000 after buying an additional 1,875 shares during the period. Creative Planning boosted its stake in shares of Northwest Bancshares by 12.8% in the third quarter. Creative Planning now owns 8,449 shares of the company’s stock worth $133,000 after buying an additional 959 shares during the period. Flinton Capital Management LLC purchased a new stake in shares of Northwest Bancshares during the fourth quarter worth about $182,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Northwest Bancshares during the second quarter worth about $164,000. 67.11% of the stock is owned by hedge funds and other institutional investors.
Northwest Bancshares Company Profile
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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