Northwest Bancshares, Inc. (NASDAQ:NWBI) EVP Jonathan P. Scalise sold 19,172 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $17.01, for a total value of $326,115.72. Following the sale, the executive vice president now owns 35,202 shares of the company’s stock, valued at $598,786.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Northwest Bancshares, Inc. (NASDAQ NWBI) traded down $0.01 during mid-day trading on Tuesday, hitting $17.07. 174,682 shares of the stock traded hands, compared to its average volume of 452,851. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.18. Northwest Bancshares, Inc. has a twelve month low of $14.95 and a twelve month high of $18.63. The company has a market capitalization of $1,752.88, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.66 and a beta of 0.63.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.68 dividend on an annualized basis and a yield of 3.98%. This is a boost from Northwest Bancshares’s previous quarterly dividend of $0.16. Northwest Bancshares’s dividend payout ratio (DPR) is currently 69.57%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio increased 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 purchasing an additional 180 shares during the period. Stifel Financial Corp increased its stake in shares of Northwest Bancshares by 1.5% in the second quarter. Stifel Financial Corp now owns 111,972 shares of the savings and loans company’s stock valued at $1,752,000 after purchasing an additional 1,704 shares during the period. Verition Fund Management LLC increased its stake in shares of Northwest Bancshares by 13.7% during the second quarter. Verition Fund Management LLC now owns 25,799 shares of the savings and loans company’s stock valued at $403,000 after acquiring an additional 3,108 shares during the period. Thrivent Financial For Lutherans increased its stake in shares of Northwest Bancshares by 6.0% during the second quarter. Thrivent Financial For Lutherans now owns 61,150 shares of the savings and loans company’s stock valued at $955,000 after acquiring an additional 3,450 shares during the period. Finally, Riverhead Capital Management LLC increased its stake in shares of Northwest Bancshares by 53.9% during the second quarter. Riverhead Capital Management LLC now owns 10,160 shares of the savings and loans company’s stock valued at $159,000 after acquiring an additional 3,560 shares during the period. 64.56% of the stock is currently owned by hedge funds and other institutional investors.
NWBI has been the subject of several recent research reports. BidaskClub upgraded Northwest Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $16.00 price target on shares of Northwest Bancshares in a report on Sunday, October 8th. Boenning Scattergood reiterated a “hold” rating on shares of Northwest Bancshares in a report on Tuesday, October 24th. Finally, Zacks Investment Research downgraded Northwest Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, October 26th. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $17.25.
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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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