Northwest Bancshares, Inc. (NWBI) Announces Quarterly Dividend of $0.16
Northwest Bancshares, Inc. (NASDAQ:NWBI) announced a quarterly dividend on Tuesday, October 24th, Wall Street Journal reports. Shareholders of record on Thursday, November 2nd will be paid a dividend of 0.16 per share by the savings and loans company on Thursday, November 16th. This represents a $0.64 annualized dividend and a yield of 3.66%. The ex-dividend date is Wednesday, November 1st.
Shares of Northwest Bancshares (NASDAQ:NWBI) traded down 0.23% during mid-day trading on Tuesday, reaching $17.51. 447,919 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $16.84 and a 200-day moving average price of $16.08. The company has a market capitalization of $1.79 billion, a P/E ratio of 20.41 and a beta of 0.65. Northwest Bancshares has a 1-year low of $14.95 and a 1-year high of $19.10.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings data on Monday, October 23rd. The savings and loans company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. Northwest Bancshares had a return on equity of 7.45% and a net margin of 18.91%. The business had revenue of $107.83 million for the quarter, compared to the consensus estimate of $106.63 million. On average, equities research analysts forecast that Northwest Bancshares will post $0.93 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on the company. Boenning Scattergood reissued a “hold” rating on shares of Northwest Bancshares in a research note on Tuesday. Zacks Investment Research downgraded Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $16.00 price objective on shares of Northwest Bancshares in a research note on Sunday, October 8th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $16.50.
In other Northwest Bancshares news, 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 value of $218,722.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Andrew Young sold 5,625 shares of Northwest Bancshares stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $16.18, for a total value of $91,012.50. Following the completion of the transaction, the executive vice president now directly owns 60,254 shares in the company, valued at $974,909.72. The disclosure for this sale can be found here. Insiders own 2.00% 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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