Northwest Bancshares, Inc. (NWBI) COO Purchases $102,690.00 in Stock
Northwest Bancshares, Inc. (NASDAQ:NWBI) COO Ronald J. Seiffert purchased 6,300 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was acquired at an average price of $16.30 per share, with a total value of $102,690.00. Following the purchase, the chief operating officer now owns 6,300 shares of the company’s stock, valued at $102,690. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) traded up $0.11 during mid-day trading on Wednesday, hitting $16.34. 420,800 shares of the company were exchanged, compared to its average volume of 477,839. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1,665.53, a P/E ratio of 18.44, a P/E/G ratio of 1.92 and a beta of 0.64. Northwest Bancshares, Inc. has a 12-month low of $14.95 and a 12-month high of $19.10.
Northwest Bancshares (NASDAQ:NWBI) last issued its earnings results on Monday, October 23rd. The savings and loans company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $107.83 million during the quarter, compared to the consensus estimate of $106.63 million. Northwest Bancshares had a net margin of 20.59% and a return on equity of 7.54%. equities analysts expect that Northwest Bancshares, Inc. will post 0.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Thursday, November 2nd were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, November 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.92%. Northwest Bancshares’s payout ratio is currently 68.09%.
Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its position in Northwest Bancshares by 2.5% in the second quarter. Public Employees Retirement System of Ohio now owns 7,284 shares of the savings and loans company’s stock valued at $114,000 after acquiring an additional 180 shares during the last quarter. SG Americas Securities LLC lifted its position in Northwest Bancshares by 32.9% in the second quarter. SG Americas Securities LLC now owns 8,528 shares of the savings and loans company’s stock valued at $133,000 after acquiring an additional 2,112 shares during the last quarter. Shelton Capital Management purchased a new stake in Northwest Bancshares in the second quarter valued at $158,000. Riverhead Capital Management LLC lifted its position in Northwest Bancshares by 53.9% in the second quarter. Riverhead Capital Management LLC now owns 10,160 shares of the savings and loans company’s stock valued at $159,000 after acquiring an additional 3,560 shares during the last quarter. Finally, Clinton Group Inc. purchased a new stake in Northwest Bancshares in the second quarter valued at $160,000. Hedge funds and other institutional investors own 64.03% of the company’s stock.
Several research firms have commented on NWBI. Zacks Investment Research downgraded shares of Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 26th. Boenning Scattergood restated a “hold” rating on shares of Northwest Bancshares in a research note on Tuesday, October 24th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $16.00 price target on shares of Northwest Bancshares in a research note on Sunday, October 8th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $16.67.
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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