Northwest Bancshares, Inc. (NASDAQ:NWBI) EVP Gerald J. Ritzert sold 1,285 shares of the stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $16.65, for a total transaction of $21,395.25. Following the completion of the sale, the executive vice president now directly owns 36,342 shares in the company, valued at $605,094.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Northwest Bancshares, Inc. (NWBI) traded down $0.17 during trading on Wednesday, hitting $17.00. 373,298 shares of the company’s stock traded hands, compared to its average volume of 532,196. Northwest Bancshares, Inc. has a one year low of $14.95 and a one year high of $17.78. The firm has a market cap of $1,764.33, a PE ratio of 18.48, a P/E/G ratio of 1.67 and a beta of 0.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.00 and a quick ratio of 1.00.
Northwest Bancshares (NASDAQ:NWBI) last released its quarterly earnings results on Monday, January 22nd. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $107.15 million for the quarter, compared to analysts’ expectations of $108.15 million. equities research analysts predict that Northwest Bancshares, Inc. will post 1.03 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were issued a dividend of $0.17 per share. This is a positive change 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 is presently 73.91%.
A number of equities research analysts recently commented on the stock. 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 reaffirmed a “hold” rating on shares of Northwest Bancshares in a research note on Tuesday, January 23rd. Zacks Investment Research cut shares of Northwest Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, BidaskClub raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Five investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $17.33.
Several hedge funds have recently made changes to their positions in NWBI. BlackRock Inc. lifted its holdings in shares of Northwest Bancshares by 4.3% during the 4th quarter. BlackRock Inc. now owns 13,113,000 shares of the savings and loans company’s stock worth $219,380,000 after acquiring an additional 535,670 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Northwest Bancshares by 185.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 503,919 shares of the savings and loans company’s stock worth $8,431,000 after acquiring an additional 327,659 shares during the period. Dean Investment Associates LLC lifted its holdings in shares of Northwest Bancshares by 319.4% during the 4th quarter. Dean Investment Associates LLC now owns 267,159 shares of the savings and loans company’s stock worth $4,470,000 after acquiring an additional 203,459 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Northwest Bancshares by 33.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 562,856 shares of the savings and loans company’s stock worth $9,416,000 after acquiring an additional 142,041 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Northwest Bancshares by 165.0% during the 4th quarter. American Century Companies Inc. now owns 218,642 shares of the savings and loans company’s stock worth $3,658,000 after acquiring an additional 136,146 shares during the period. Institutional investors and hedge funds own 67.75% of the company’s stock.
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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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