Insider Selling: Northwest Bancshares, Inc. (NASDAQ: NWBI) Director Sells 7,200 Shares
Northwest Bancshares, Inc. (NASDAQ: NWBI – Get a rating) Director Deborah J. Esq. Chadsey sold 7,200 shares in a trade that took place on Thursday, May 19. The stock was sold at an average price of $12.50, for a total transaction of $90,000.00. Following completion of the transaction, the administrator now owns 30,746 shares of the company, valued at approximately $384,325. The sale was disclosed in an SEC filing, available at the SEC website.
Shares of Northwest Bancshares traded down $0.20 at midday on Friday, hitting $12.24. The company had a trading volume of 23,039 shares, compared to its average volume of 958,151. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt ratio of 0, 25. Northwest Bancshares, Inc. has a 12-month low of $12.04 and a 12-month high of $15.15. The company’s fifty-day moving average is $13.15 and its 200-day moving average is $13.76. The company has a market capitalization of $1.55 billion, a price-earnings ratio of 11.08 and a beta of 0.56.
Northwest Bancshares (NASDAQ:NWBI – Get a rating) last released its quarterly earnings data on Monday, April 25. The savings and loan company reported EPS of $0.22 for the quarter, beating the consensus estimate of $0.20 by $0.02. Northwest Bancshares had a return on equity of 9.12% and a net margin of 26.19%. As a group, sell-side analysts expect Northwest Bancshares, Inc. to post 0.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 16. Shareholders of record on Thursday, May 5 received a dividend of $0.20 per share. The ex-dividend date was Wednesday, May 4. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 6.54%. Northwest Bancshares’ dividend payout ratio (DPR) is 72.07%.
Several large investors have recently changed their positions in NWBI. State Street Corp increased its position in Northwest Bancshares shares by 59.4% during the first quarter. State Street Corp now owns 8,048,444 shares of the savings and loan company valued at $108,734,000 after buying an additional 2,999,249 shares last quarter. Norges Bank purchased a new equity position from Northwest Bancshares during Q4, valued at approximately $16,574,000. Invesco Ltd. increased its position in Northwest Bancshares shares by 30.5% during the third quarter. Invesco Ltd. now owns 3,945,871 shares of the savings and loan company valued at $52,401,000 after purchasing an additional 921,659 shares last quarter. Goldman Sachs Group Inc. increased its position in Northwest Bancshares shares by 167.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,311,166 shares of the savings and loan company valued at $18,566,000 after buying 820,919 additional shares last quarter. Finally, Victory Capital Management Inc. increased its position in Northwest Bancshares shares by 84.5% during the first quarter. Victory Capital Management Inc. now owns 1,341,413 shares of the savings and loan company valued at $17,009,000 after buying an additional 614,164 shares last quarter. Hedge funds and other institutional investors hold 61.18% of the company’s shares.
Several stock analysts have recently weighed in on NWBI shares. StockNews.com began covering shares of Northwest Bancshares in a report on Thursday, March 31. They issued a “hold” rating on the stock. Piper Sandler downgraded Northwest Bancshares shares from a “neutral” rating to an “underweight” rating and lowered her price target for the stock from $14.00 to $12.00 in a Friday report May 6. To finish, Zacks Investment Research downgraded Northwest Bancshares shares from a “buy” rating to a “hold” rating in a Saturday, April 30, report. One research analyst rated the stock with a sell rating and five rated the company’s stock with a hold rating. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.51.
About Northwest Bancshares (Get a rating)
Northwest Bancshares, Inc. operates as the holding company of Northwest Bank, a state-chartered savings bank that provides personal and business banking solutions. The company accepts a variety of deposits, including checks, savings, money market deposits, term certificates, and individual retirement accounts.
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