Insider Selling: Northwest Bancshares, Inc. (NASDAQ:NWBI) Director Sells $101,952.00 in Stock

Northwest Bancshares, Inc. (NASDAQ:NWBI) Director John P. Meegan sold 7,200 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $14.16, for a total value of $101,952.00. Following the sale, the director now directly owns 76,324 shares in the company, valued at $1,080,747.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Northwest Bancshares Stock Up 0.7 %

Northwest Bancshares stock opened at $14.26 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $1.81 billion, a PE ratio of 13.84 and a beta of 0.64. The business has a 50 day simple moving average of $11.59 and a 200-day simple moving average of $11.53. Northwest Bancshares, Inc. has a 12 month low of $9.80 and a 12 month high of $14.55.

Northwest Bancshares Dividend Announcement

The business also recently declared 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 5.61%. The ex-dividend date is Friday, August 2nd. Northwest Bancshares’s payout ratio is presently 77.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NWBI. Piper Sandler dropped their price objective on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $12.00 price target (down previously from $13.00) on shares of Northwest Bancshares in a research report on Tuesday, April 23rd.

Hedge Funds Weigh In On Northwest Bancshares

A number of large investors have recently added to or reduced their stakes in NWBI. Denali Advisors LLC purchased a new stake in shares of Northwest Bancshares during the fourth quarter worth about $253,000. International Assets Investment Management LLC increased its stake in Northwest Bancshares by 1,148.0% during the 4th quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loans company’s stock worth $64,000 after buying an additional 4,684 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Northwest Bancshares by 9.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,540 shares of the savings and loans company’s stock valued at $930,000 after acquiring an additional 6,666 shares during the last quarter. First Merchants Corp purchased a new position in shares of Northwest Bancshares in the fourth quarter valued at approximately $126,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Northwest Bancshares in the fourth quarter valued at approximately $794,000. 66.32% of the stock is currently owned by institutional investors and hedge funds.

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.