Insider Selling: Northwest Bancshares, Inc. (NWBI) Director Sells 13,560 Shares of Stock
Northwest Bancshares, Inc. (NASDAQ:NWBI) Director Philip M. Tredway sold 13,560 shares of Northwest Bancshares stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $16.13, for a total transaction of $218,722.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at 16.04 on Tuesday. The stock has a market capitalization of $1.64 billion, a PE ratio of 18.69 and a beta of 0.63. The firm’s 50-day moving average is $15.72 and its 200 day moving average is $16.48. Northwest Bancshares, Inc. has a 52-week low of $14.85 and a 52-week high of $19.10.
Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Monday, July 24th. The savings and loans company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Northwest Bancshares had a net margin of 18.91% and a return on equity of 7.45%. The business had revenue of $124.21 million for the quarter, compared to analyst estimates of $116.82 million. On average, equities analysts forecast that Northwest Bancshares, Inc. will post $0.93 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be issued a $0.16 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $0.64 annualized dividend and a yield of 3.99%. Northwest Bancshares’s dividend payout ratio (DPR) is presently 75.29%.
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Several research analysts have issued reports on NWBI shares. BidaskClub lowered shares of Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, ValuEngine lowered shares of Northwest Bancshares from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research report on Thursday, May 11th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.60.
Large investors have recently bought and sold shares of the company. FMR LLC purchased a new stake in Northwest Bancshares during the fourth quarter valued at $696,000. Two Sigma Investments LP purchased a new stake in Northwest Bancshares during the fourth quarter valued at $315,000. Norges Bank purchased a new stake in Northwest Bancshares during the fourth quarter valued at $19,609,000. Quadrature Capital Ltd purchased a new stake in Northwest Bancshares during the fourth quarter valued at $943,000. Finally, Highbridge Capital Management LLC purchased a new stake in Northwest Bancshares during the fourth quarter valued at $292,000. Institutional investors own 66.26% 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 segments include Community Banking and Consumer Finance.
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