Insider Buying: Northwest Bancshares, Inc. (NWBI) Director Acquires 1,000 Shares of Stock
Northwest Bancshares, Inc. (NASDAQ:NWBI) Director John P. Meegan acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average price of $16.14 per share, with a total value of $16,140.00. Following the completion of the purchase, the director now owns 53,950 shares in the company, valued at $870,753. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Northwest Bancshares, Inc. (NWBI) opened at $16.43 on Wednesday. Northwest Bancshares, Inc. has a 52 week low of $14.95 and a 52 week high of $18.63. The stock has a market capitalization of $1,674.84, a price-to-earnings ratio of 19.19, a PEG ratio of 1.58 and a beta of 0.64. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.18.
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 return on equity of 7.23% and a net margin of 20.11%. The company had revenue of $107.15 million during the quarter, compared to analysts’ expectations of $108.15 million. research analysts expect that Northwest Bancshares, Inc. will post 1.03 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Northern Trust Corp grew its stake in shares of Northwest Bancshares by 3.3% in the second quarter. Northern Trust Corp now owns 2,449,958 shares of the savings and loans company’s stock worth $38,243,000 after purchasing an additional 78,768 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Northwest Bancshares by 7.1% in the third quarter. First Trust Advisors LP now owns 1,636,501 shares of the savings and loans company’s stock worth $28,262,000 after purchasing an additional 108,610 shares in the last quarter. State Street Corp grew its stake in shares of Northwest Bancshares by 3.8% in the second quarter. State Street Corp now owns 2,516,857 shares of the savings and loans company’s stock worth $39,287,000 after purchasing an additional 93,063 shares in the last quarter. Susquehanna International Group LLP grew its stake in shares of Northwest Bancshares by 543.1% in the second quarter. Susquehanna International Group LLP now owns 108,037 shares of the savings and loans company’s stock worth $1,686,000 after purchasing an additional 91,237 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Northwest Bancshares by 4.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 669,960 shares of the savings and loans company’s stock worth $11,571,000 after purchasing an additional 28,537 shares in the last quarter. 64.83% of the stock is owned by institutional investors.
A number of research analysts recently commented on NWBI shares. Zacks Investment Research downgraded Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 26th. BidaskClub downgraded Northwest Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. Finally, Boenning Scattergood restated a “hold” rating on shares of Northwest Bancshares in a research note on Tuesday, October 24th. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.25.
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Northwest Bancshares Company Profile
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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