Insider Buying: Northwest Bancshares, Inc. (NWBI) Director Acquires 1,000 Shares of Stock
Northwest Bancshares, Inc. (NASDAQ:NWBI) Director Timothy M. Hunter bought 1,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were acquired at an average cost of $15.70 per share, with a total value of $15,700.00. Following the purchase, the director now owns 13,100 shares of the company’s stock, valued at $205,670. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Northwest Bancshares, Inc. (NASDAQ NWBI) traded down 0.32% on Friday, hitting $15.43. The stock had a trading volume of 346,218 shares. Northwest Bancshares, Inc. has a one year low of $14.95 and a one year high of $19.10. The company’s 50-day moving average price is $15.75 and its 200 day moving average price is $16.36. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 17.98 and a beta of 0.63.
Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings data on Monday, July 24th. The savings and loans company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm had revenue of $124.21 million for the quarter, compared to analyst estimates of $116.82 million. Northwest Bancshares had a net margin of 18.91% and a return on equity of 7.45%. Analysts expect that Northwest Bancshares, Inc. will post $0.93 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Thursday, August 3rd were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, August 1st. This represents a $0.64 annualized dividend and a yield of 4.15%. Northwest Bancshares’s dividend payout ratio (DPR) is 75.29%.
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Large investors have recently added to or reduced their stakes in the company. Glen Harbor Capital Management LLC raised its stake in Northwest Bancshares by 3.1% in the first quarter. Glen Harbor Capital Management LLC now owns 5,936 shares of the savings and loans company’s stock valued at $100,000 after buying an additional 176 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Northwest Bancshares by 2.5% in the second quarter. Public Employees Retirement System of Ohio now owns 7,284 shares of the savings and loans company’s stock valued at $114,000 after buying an additional 180 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Northwest Bancshares by 32.9% in the second quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock valued at $133,000 after buying an additional 2,112 shares during the last quarter. Tyers Asset Management LLC raised its stake in shares of Northwest Bancshares by 3.1% in the first quarter. Tyers Asset Management LLC now owns 8,162 shares of the savings and loans company’s stock valued at $137,000 after buying an additional 242 shares during the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Northwest Bancshares during the first quarter valued at approximately $140,000. Hedge funds and other institutional investors own 64.85% of the company’s stock.
Several equities research analysts have issued reports on NWBI shares. Zacks Investment Research raised Northwest Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. ValuEngine cut Northwest Bancshares from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Thursday, May 11th. Finally, BidaskClub raised Northwest Bancshares from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $16.60.
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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