Northwest Bancshares, Inc. (NASDAQ:NWBI) EVP Gerald J. Ritzert sold 1,285 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $16.65, for a total transaction of $21,395.25. Following the transaction, the executive vice president now directly owns 36,342 shares in the company, valued at $605,094.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) traded down $0.17 during midday trading on Wednesday, reaching $17.00. 373,298 shares of the company were exchanged, compared to its average volume of 532,196. The firm has a market cap of $1,764.33, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.67 and a beta of 0.64. Northwest Bancshares, Inc. has a 12-month low of $14.95 and a 12-month high of $17.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.00 and a current ratio of 1.00.
Northwest Bancshares (NASDAQ:NWBI) last issued its quarterly earnings data on Monday, January 22nd. The savings and loans company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. Northwest Bancshares had a net margin of 20.11% and a return on equity of 7.23%. The firm had revenue of $107.15 million for the quarter, compared to analysts’ expectations of $108.15 million. analysts predict that Northwest Bancshares, Inc. will post 1.03 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were paid a dividend of $0.17 per share. This is a boost from Northwest Bancshares’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Wednesday, January 31st. Northwest Bancshares’s dividend payout ratio (DPR) is currently 73.91%.
Institutional investors have recently added to or reduced their stakes in the business. CNB Bank acquired a new stake in shares of Northwest Bancshares during the 4th quarter worth about $105,000. Public Employees Retirement System of Ohio boosted its stake in shares of Northwest Bancshares by 2.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,284 shares of the savings and loans company’s stock worth $114,000 after purchasing an additional 180 shares during the last quarter. Raymond James & Associates acquired a new stake in shares of Northwest Bancshares during the 4th quarter worth about $184,000. Algert Global LLC acquired a new stake in shares of Northwest Bancshares during the 3rd quarter worth about $205,000. Finally, Mascoma Wealth Management LLC acquired a new stake in shares of Northwest Bancshares during the 3rd quarter worth about $217,000. 67.75% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Northwest Bancshares from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective on the stock in a research note on Wednesday, January 3rd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $17.00 price objective on shares of Northwest Bancshares in a research note on Tuesday, February 27th. Boenning Scattergood reissued a “hold” rating on shares of Northwest Bancshares in a research note on Tuesday, January 23rd. Finally, BidaskClub cut shares of Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. Five analysts have rated the stock with a hold rating, Northwest Bancshares currently has an average rating of “Hold” and an average target price of $17.33.
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About Northwest Bancshares
Northwest Bancshares, Inc (Northwest) is a savings and loan holding company. The Company’s principal business consists of attracting deposits and making loans secured by various types of collateral, including real estate and other assets in the markets in which it operates. Its segments include Community Banking and Consumer Finance.
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