Northwest Bancshares, Inc. Plans Quarterly Dividend of $0.20 (NASDAQ:NWBI)

Northwest Bancshares, Inc. (NASDAQ:NWBIGet Rating) declared a quarterly dividend on Monday, January 23rd, Zacks reports. Investors of record on Thursday, February 2nd will be given a dividend of 0.20 per share by the savings and loans company on Tuesday, February 14th. This represents a $0.80 annualized dividend and a yield of 5.90%. The ex-dividend date of this dividend is Wednesday, February 1st.

Northwest Bancshares has increased its dividend payment by an average of 3.6% annually over the last three years. Northwest Bancshares has a payout ratio of 69.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Northwest Bancshares to earn $1.16 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 69.0%.

Northwest Bancshares Price Performance

NASDAQ:NWBI opened at $13.56 on Tuesday. The stock has a market cap of $1.72 billion, a P/E ratio of 13.43 and a beta of 0.60. Northwest Bancshares has a one year low of $12.04 and a one year high of $15.35. The company has a fifty day moving average price of $14.33 and a 200 day moving average price of $14.18. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.91.

Northwest Bancshares (NASDAQ:NWBIGet Rating) last released its earnings results on Monday, October 24th. The savings and loans company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $139.55 million for the quarter, compared to analyst estimates of $137.99 million. Northwest Bancshares had a net margin of 24.18% and a return on equity of 8.52%. Analysts anticipate that Northwest Bancshares will post 1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on NWBI. Janney Montgomery Scott began coverage on shares of Northwest Bancshares in a research note on Thursday, September 29th. They set a “neutral” rating and a $15.00 target price for the company. Piper Sandler lowered their price target on shares of Northwest Bancshares to $12.00 in a report on Wednesday, October 5th. Finally, StockNews.com initiated coverage on shares of Northwest Bancshares in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Insider Transactions at Northwest Bancshares

In other news, EVP Thomas K. Iv Creal sold 4,097 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $15.12, for a total value of $61,946.64. Following the sale, the executive vice president now owns 24,289 shares of the company’s stock, valued at approximately $367,249.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Thomas K. Iv Creal sold 4,097 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $15.12, for a total value of $61,946.64. Following the sale, the executive vice president now owns 24,289 shares of the company’s stock, valued at approximately $367,249.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy B. Fannin sold 24,480 shares of the company’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $14.83, for a total transaction of $363,038.40. Following the completion of the sale, the director now directly owns 25,046 shares in the company, valued at approximately $371,432.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,154 shares of company stock valued at $869,836. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Northwest Bancshares

Several large investors have recently made changes to their positions in NWBI. Toroso Investments LLC grew its holdings in Northwest Bancshares by 12.5% during the 1st quarter. Toroso Investments LLC now owns 15,585 shares of the savings and loans company’s stock worth $211,000 after acquiring an additional 1,728 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in Northwest Bancshares by 16.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,686 shares of the savings and loans company’s stock worth $238,000 after acquiring an additional 2,487 shares during the last quarter. LPL Financial LLC grew its holdings in Northwest Bancshares by 5.4% during the 2nd quarter. LPL Financial LLC now owns 49,373 shares of the savings and loans company’s stock worth $632,000 after acquiring an additional 2,549 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Northwest Bancshares by 35.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,407 shares of the savings and loans company’s stock worth $154,000 after acquiring an additional 2,990 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in Northwest Bancshares by 23.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 15,812 shares of the savings and loans company’s stock worth $214,000 after acquiring an additional 3,032 shares during the last quarter. Institutional investors own 64.62% of the company’s stock.

Northwest Bancshares Company Profile

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Northwest Bancshares, Inc operates as the holding company for Northwest Bank, a state-chartered savings bank that provides personal and business banking solutions. The company accepts various deposits, including checking, savings, money market deposit, term certificate, and individual retirement accounts.

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Dividend History for Northwest Bancshares (NASDAQ:NWBI)

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