Northwest Bancshares, Inc. (NASDAQ:NWBI) Director John P. Meegan Sells 7,200 Shares

Northwest Bancshares, Inc. (NASDAQ:NWBI) Director John P. Meegan sold 7,200 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $14.16, for a total value of $101,952.00. Following the completion of the sale, the director now directly owns 76,324 shares of the company’s stock, valued at approximately $1,080,747.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Northwest Bancshares Trading Up 0.7 %

NASDAQ:NWBI opened at $14.26 on Monday. Northwest Bancshares, Inc. has a 52-week low of $9.80 and a 52-week high of $14.55. The company has a market capitalization of $1.81 billion, a PE ratio of 13.84 and a beta of 0.64. 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 stock has a fifty day simple moving average of $11.59 and a 200-day simple moving average of $11.53.

Northwest Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Friday, August 2nd will be given a dividend of $0.20 per share. The ex-dividend date is Friday, August 2nd. This represents a $0.80 annualized dividend and a dividend yield of 5.61%. Northwest Bancshares’s dividend payout ratio is currently 77.67%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NWBI. Piper Sandler reduced their price objective on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $12.00 price target (down previously from $13.00) on shares of Northwest Bancshares in a research note on Tuesday, April 23rd.

Institutional Investors Weigh In On Northwest Bancshares

A number of large investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Northwest Bancshares in the fourth quarter valued at $7,107,000. Hsbc Holdings PLC increased its position in Northwest Bancshares by 3,568.5% during the 4th quarter. Hsbc Holdings PLC now owns 580,655 shares of the savings and loans company’s stock worth $7,298,000 after purchasing an additional 564,827 shares in the last quarter. Verition Fund Management LLC raised its stake in Northwest Bancshares by 2,299.6% in the 4th quarter. Verition Fund Management LLC now owns 418,013 shares of the savings and loans company’s stock valued at $5,217,000 after purchasing an additional 400,593 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Northwest Bancshares by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,712,088 shares of the savings and loans company’s stock valued at $108,729,000 after purchasing an additional 90,425 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new stake in shares of Northwest Bancshares during the 4th quarter worth about $1,059,000. Institutional investors and hedge funds own 66.32% of the company’s stock.

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.