Douglas M. Schosser Purchases 7,000 Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) Stock

Northwest Bancshares, Inc. (NASDAQ:NWBI) CFO Douglas M. Schosser acquired 7,000 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was acquired at an average price of $14.19 per share, for a total transaction of $99,330.00. Following the acquisition, the chief financial officer now owns 46,347 shares of the company’s stock, valued at approximately $657,663.93. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Northwest Bancshares Stock Up 1.1 %

NWBI traded up $0.16 during midday trading on Friday, reaching $14.32. The company’s stock had a trading volume of 110,582 shares, compared to its average volume of 743,327. The stock’s 50-day moving average is $11.53 and its 200-day moving average is $11.53. Northwest Bancshares, Inc. has a 1 year low of $9.80 and a 1 year high of $14.55. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 13.75 and a beta of 0.64.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings results on Monday, April 22nd. The savings and loans company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. Northwest Bancshares had a net margin of 14.28% and a return on equity of 8.72%. The firm had revenue of $188.20 million for the quarter, compared to analysts’ expectations of $132.80 million. As a group, research analysts expect that Northwest Bancshares, Inc. will post 0.88 EPS for the current year.

Northwest Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Friday, August 2nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.59%. The ex-dividend date is Friday, August 2nd. Northwest Bancshares’s dividend payout ratio is currently 77.67%.

Institutional Investors Weigh In On Northwest Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in NWBI. Nisa Investment Advisors LLC boosted its holdings in Northwest Bancshares by 93.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,935 shares of the savings and loans company’s stock worth $34,000 after purchasing an additional 1,420 shares during the last quarter. CWM LLC raised its position in Northwest Bancshares by 164.6% in the fourth quarter. CWM LLC now owns 4,918 shares of the savings and loans company’s stock worth $61,000 after acquiring an additional 3,059 shares during the period. International Assets Investment Management LLC raised its position in Northwest Bancshares by 1,148.0% in the fourth quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loans company’s stock worth $64,000 after acquiring an additional 4,684 shares during the period. IVC Wealth Advisors LLC bought a new position in Northwest Bancshares in the first quarter worth approximately $124,000. Finally, First Merchants Corp bought a new position in Northwest Bancshares in the fourth quarter worth approximately $126,000. Hedge funds and other institutional investors own 66.32% of the company’s stock.

Analyst Ratings Changes

NWBI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $12.00 price objective (down previously from $13.00) on shares of Northwest Bancshares in a report on Tuesday, April 23rd. Piper Sandler cut their price objective on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, April 23rd.

Northwest Bancshares Company Profile

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.