Northwest Bancshares, Inc. (NASDAQ:NWBI – Get Free Report) CFO Douglas M. Schosser purchased 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were acquired at an average price of $14.19 per share, for a total transaction of $99,330.00. Following the completion of the transaction, the chief financial officer now owns 46,347 shares in the company, valued at $657,663.93. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Northwest Bancshares Trading Up 1.1 %
Northwest Bancshares stock traded up $0.16 during mid-day trading on Friday, hitting $14.32. 110,582 shares of the company’s stock were exchanged, compared to its average volume of 743,327. The firm has a market capitalization of $1.82 billion, a P/E ratio of 13.75 and a beta of 0.64. Northwest Bancshares, Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $14.55. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.31. The company’s 50 day simple moving average is $11.53 and its 200-day simple moving average is $11.53.
Northwest Bancshares (NASDAQ:NWBI – Get Free Report) last released its earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. The firm had revenue of $188.20 million during the quarter, compared to analysts’ expectations of $132.80 million. Northwest Bancshares had a return on equity of 8.72% and a net margin of 14.28%. On average, equities analysts anticipate that Northwest Bancshares, Inc. will post 0.88 earnings per share for the current year.
Northwest Bancshares Dividend Announcement
Hedge Funds Weigh In On Northwest Bancshares
Several hedge funds have recently modified their holdings of NWBI. Denali Advisors LLC bought a new position in shares of Northwest Bancshares in the 4th quarter valued at about $253,000. International Assets Investment Management LLC lifted its position in Northwest Bancshares by 1,148.0% during the fourth quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loans company’s stock worth $64,000 after acquiring an additional 4,684 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Northwest Bancshares by 9.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,540 shares of the savings and loans company’s stock worth $930,000 after acquiring an additional 6,666 shares during the last quarter. First Merchants Corp acquired a new stake in shares of Northwest Bancshares in the fourth quarter valued at approximately $126,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Northwest Bancshares in the fourth quarter valued at approximately $794,000. Institutional investors own 66.32% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently commented on NWBI. Keefe, Bruyette & Woods restated 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 reduced their price objective on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, April 23rd.
Read Our Latest Stock Analysis on Northwest Bancshares
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.
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