Insider Selling: Northwest Bancshares, Inc. (NWBI) EVP Sells $91,012.50 in 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 owns 60,254 shares in the company, valued at approximately $974,909.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Northwest Bancshares, Inc. (NWBI) opened at 16.23 on Friday. The company’s 50-day moving average is $15.74 and its 200-day moving average is $16.10. Northwest Bancshares, Inc. has a 12 month low of $14.95 and a 12 month high of $19.10. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 18.92 and a beta of 0.63.
Northwest Bancshares (NASDAQ:NWBI) last released its earnings results on Monday, July 24th. The savings and loans company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The business had revenue of $124.21 million for the quarter, compared to the consensus estimate of $116.82 million. Northwest Bancshares had a net margin of 18.91% and a return on equity of 7.45%. On average, equities research analysts forecast that Northwest Bancshares, Inc. will post $0.93 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Northwest Bancshares by 52,513.7% in the first quarter. BlackRock Inc. now owns 12,529,950 shares of the savings and loans company’s stock worth $211,005,000 after acquiring an additional 12,506,135 shares in the last quarter. Vanguard Group Inc. grew its position in Northwest Bancshares by 5.5% during the first quarter. Vanguard Group Inc. now owns 9,155,426 shares of the savings and loans company’s stock valued at $154,177,000 after purchasing an additional 478,726 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Northwest Bancshares by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,574,522 shares of the savings and loans company’s stock valued at $133,848,000 after purchasing an additional 367,413 shares in the last quarter. Wellington Management Group LLP grew its position in Northwest Bancshares by 1.2% during the first quarter. Wellington Management Group LLP now owns 6,142,660 shares of the savings and loans company’s stock valued at $103,443,000 after purchasing an additional 70,860 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Northwest Bancshares by 27.9% during the second quarter. Renaissance Technologies LLC now owns 2,644,554 shares of the savings and loans company’s stock valued at $41,281,000 after purchasing an additional 576,154 shares in the last quarter. 65.39% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. BidaskClub lowered shares of Northwest Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Sell” and an average target price of $17.00.
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.
Receive News & Ratings for Northwest Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northwest Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.