Northwest Bancshares, Inc. (NASDAQ:NWBI) CFO Purchases $99,330.00 in Stock

Northwest Bancshares, Inc. (NASDAQ:NWBI) 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) 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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend is Friday, August 2nd. Northwest Bancshares’s dividend payout ratio (DPR) is presently 77.67%.

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.

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.