Northwest Bancshares, Inc. (NASDAQ:NWBI) EVP Devin T. Cygnar Sells 3,843 Shares

Northwest Bancshares, Inc. (NASDAQ:NWBI) EVP Devin T. Cygnar sold 3,843 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $11.08, for a total value of $42,580.44. Following the transaction, the executive vice president now owns 11,823 shares in the company, valued at approximately $130,998.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Northwest Bancshares Stock Up 0.3 %

NWBI stock traded up $0.03 during mid-day trading on Wednesday, hitting $11.11. 135,028 shares of the company were exchanged, compared to its average volume of 791,260. The firm has a market cap of $1.41 billion, a P/E ratio of 10.76 and a beta of 0.62. Northwest Bancshares, Inc. has a 1-year low of $9.80 and a 1-year high of $13.07. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.96. The firm’s 50 day simple moving average is $11.15 and its 200 day simple moving average is $11.54.

Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. The firm had revenue of $188.20 million during the quarter, compared to analyst estimates of $132.80 million. Northwest Bancshares had a net margin of 17.84% and a return on equity of 8.77%. On average, sell-side analysts predict that Northwest Bancshares, Inc. will post 0.92 EPS for the current fiscal year.

Northwest Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, May 2nd will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.20%. Northwest Bancshares’s payout ratio is presently 77.67%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Northwest Bancshares

Several institutional investors have recently bought and sold shares of NWBI. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Northwest Bancshares by 40.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 17,021 shares of the savings and loans company’s stock valued at $174,000 after purchasing an additional 4,945 shares during the last quarter. Raymond James & Associates increased its stake in Northwest Bancshares by 11.4% in the 3rd quarter. Raymond James & Associates now owns 34,584 shares of the savings and loans company’s stock valued at $354,000 after buying an additional 3,540 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Northwest Bancshares during the 3rd quarter worth about $199,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Northwest Bancshares by 6.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,874 shares of the savings and loans company’s stock worth $694,000 after buying an additional 3,961 shares during the last quarter. Finally, Northwest Bancshares Inc. boosted its stake in shares of Northwest Bancshares by 0.4% during the 3rd quarter. Northwest Bancshares Inc. now owns 338,068 shares of the savings and loans company’s stock worth $3,458,000 after buying an additional 1,211 shares during the last quarter. Institutional investors own 66.32% of the company’s stock.

About Northwest Bancshares

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.