Andrew Young Sells 5,625 Shares of Northwest Bancshares, Inc. (NWBI) Stock
Northwest Bancshares, Inc. (NASDAQ:NWBI) EVP Andrew Young sold 5,625 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $16.18, for a total transaction of $91,012.50. Following the sale, the executive vice president now directly owns 60,254 shares of the company’s stock, valued at approximately $974,909.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Northwest Bancshares, Inc. (NWBI) traded up 0.06% during mid-day trading on Thursday, reaching $16.15. 315,481 shares of the company traded hands. Northwest Bancshares, Inc. has a 12-month low of $14.95 and a 12-month high of $19.10. The company’s 50-day moving average is $15.74 and its 200-day moving average is $16.11. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 18.82 and a beta of 0.63.
Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings data on Monday, July 24th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $124.21 million during the quarter, compared to the consensus estimate of $116.82 million. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%. Equities analysts predict that Northwest Bancshares, Inc. will post $0.93 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $0.64 dividend on an annualized basis and a yield of 3.96%. Northwest Bancshares’s dividend payout ratio (DPR) is 75.29%.
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NWBI has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub raised shares of Northwest Bancshares from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company currently has an average rating of “Sell” and a consensus target price of $17.00.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio raised its holdings in 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 worth $114,000 after purchasing an additional 180 shares in the last quarter. Koch Industries Inc. bought a new position in Northwest Bancshares in the second quarter worth $237,000. Verition Fund Management LLC raised its holdings in Northwest Bancshares by 13.7% in the second quarter. Verition Fund Management LLC now owns 25,799 shares of the savings and loans company’s stock worth $403,000 after purchasing an additional 3,108 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in Northwest Bancshares in the second quarter worth $344,000. Finally, Susquehanna International Group LLP raised its holdings in Northwest Bancshares by 543.1% in the second quarter. Susquehanna International Group LLP now owns 108,037 shares of the savings and loans company’s stock worth $1,686,000 after purchasing an additional 91,237 shares in the last quarter. Institutional investors and hedge funds own 65.39% of the company’s stock.
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 segments include Community Banking and Consumer Finance.
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