Insider Selling: Northwest Bancshares, Inc. (NASDAQ:NWBI) EVP Sells 3,843 Shares of Stock

Northwest Bancshares, Inc. (NASDAQ:NWBI) EVP Devin T. Cygnar sold 3,843 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $11.08, for a total transaction of $42,580.44. Following the completion of the transaction, the executive vice president now owns 11,823 shares in the company, valued at approximately $130,998.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Northwest Bancshares Stock Up 0.3 %

Shares of NWBI traded up $0.03 during midday trading on Wednesday, hitting $11.11. The company had a trading volume of 135,028 shares, compared to its average volume of 791,260. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.42. Northwest Bancshares, Inc. has a 52 week low of $9.80 and a 52 week high of $13.07. The company’s 50 day moving average price is $11.15 and its 200 day moving average price is $11.54. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 10.76 and a beta of 0.62.

Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. Northwest Bancshares had a return on equity of 8.77% and a net margin of 17.84%. The business had revenue of $188.20 million during the quarter, compared to the consensus estimate of $132.80 million. On average, equities research analysts predict that Northwest Bancshares, Inc. will post 0.92 EPS for the current year.

Northwest Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, May 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date of this dividend is Wednesday, May 1st. Northwest Bancshares’s dividend payout ratio is presently 77.67%.

Institutional Investors Weigh In On Northwest Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Northwest Bancshares by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 14,959,190 shares of the savings and loans company’s stock valued at $186,691,000 after purchasing an additional 54,526 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Northwest Bancshares by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,712,088 shares of the savings and loans company’s stock worth $108,729,000 after purchasing an additional 90,425 shares in the last quarter. Invesco Ltd. raised its stake in shares of Northwest Bancshares by 4.9% during the third quarter. Invesco Ltd. now owns 4,917,212 shares of the savings and loans company’s stock valued at $50,303,000 after purchasing an additional 230,058 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Northwest Bancshares by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,581,520 shares of the savings and loans company’s stock worth $44,697,000 after purchasing an additional 78,513 shares during the period. Finally, Victory Capital Management Inc. grew its position in Northwest Bancshares by 1.8% in the 4th quarter. Victory Capital Management Inc. now owns 3,001,622 shares of the savings and loans company’s stock valued at $37,460,000 after buying an additional 53,518 shares in the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

Wall Street Analyst Weigh In

NWBI has been the topic of several recent research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price target (down from $13.00) on shares of Northwest Bancshares in a research report on Tuesday, April 23rd. Piper Sandler lowered their target price on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, April 23rd.

Northwest Bancshares Company Profile

Northwest Bancshares, Inc operates as the bank 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.