Northwest Bancshares, Inc. (NWBI) EVP Sells $104,068.87 in Stock
Northwest Bancshares, Inc. (NASDAQ:NWBI) EVP Jonathan P. Scalise sold 6,047 shares of Northwest Bancshares stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $17.21, for a total value of $104,068.87. Following the transaction, the executive vice president now directly owns 18,402 shares in the company, valued at approximately $316,698.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Northwest Bancshares, Inc. (NASDAQ:NWBI) traded up 0.41% on Thursday, reaching $17.23. The company’s stock had a trading volume of 367,406 shares. The company’s 50 day moving average price is $16.90 and its 200-day moving average price is $16.09. Northwest Bancshares, Inc. has a 12-month low of $14.95 and a 12-month high of $19.10. The stock has a market cap of $1.77 billion, a PE ratio of 20.08 and a beta of 0.65.
Northwest Bancshares (NASDAQ:NWBI) last posted its earnings results on Monday, October 23rd. The savings and loans company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The business had revenue of $107.83 million during the quarter, compared to analyst estimates of $106.63 million. Northwest Bancshares had a return on equity of 7.58% and a net margin of 20.59%. On average, equities analysts expect that Northwest Bancshares, Inc. will post $0.93 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Thursday, November 2nd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Wednesday, November 1st. Northwest Bancshares’s payout ratio is 68.09%.
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Several brokerages recently issued reports on NWBI. Boenning Scattergood reaffirmed a “hold” rating on shares of Northwest Bancshares in a research report on Tuesday. Zacks Investment Research cut Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $16.00 price objective on shares of Northwest Bancshares in a research report 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 stock. The stock presently has an average rating of “Hold” and an average price target of $16.50.
Several institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased its holdings in shares of Northwest Bancshares by 2.5% in the 2nd 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. Arizona State Retirement System increased its holdings in shares of Northwest Bancshares by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 53,211 shares of the savings and loans company’s stock worth $831,000 after purchasing an additional 200 shares in the last quarter. Texas Permanent School Fund increased its holdings in shares of Northwest Bancshares by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 74,462 shares of the savings and loans company’s stock worth $1,162,000 after purchasing an additional 741 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Northwest Bancshares by 0.7% in the 1st quarter. Legal & General Group Plc now owns 224,767 shares of the savings and loans company’s stock worth $3,786,000 after purchasing an additional 1,475 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Northwest Bancshares by 1.0% in the 1st quarter. Prudential Financial Inc. now owns 174,288 shares of the savings and loans company’s stock worth $2,935,000 after purchasing an additional 1,680 shares in the last quarter. 65.00% of the stock is owned by institutional investors and hedge funds.
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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