William W. Harvey Sells 10,000 Shares of Northwest Bancshares, Inc. (NWBI) Stock

Northwest Bancshares, Inc. (NASDAQ:NWBI) CFO William W. Harvey sold 10,000 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $17.28, for a total transaction of $172,800.00. Following the completion of the transaction, the chief financial officer now directly owns 158,649 shares of the company’s stock, valued at approximately $2,741,454.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) opened at $16.89 on Wednesday. The company has a market cap of $1,763.02, a price-to-earnings ratio of 19.52, a P/E/G ratio of 2.03 and a beta of 0.63. Northwest Bancshares, Inc. has a 52-week low of $14.95 and a 52-week high of $19.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.99 and a quick ratio of 0.99.

Northwest Bancshares (NASDAQ:NWBI) last posted its quarterly earnings data on Monday, October 23rd. The savings and loans company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. The business had revenue of $107.83 million for the quarter, compared to analysts’ expectations of $106.63 million. Northwest Bancshares had a net margin of 20.59% and a return on equity of 7.54%. equities analysts predict that Northwest Bancshares, Inc. will post 0.85 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Thursday, November 2nd were given a $0.16 dividend. The ex-dividend date was Wednesday, November 1st. This represents a $0.64 annualized dividend and a yield of 3.79%. Northwest Bancshares’s dividend payout ratio is currently 68.09%.

Several equities analysts have recently issued reports on NWBI shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $16.00 price target on shares of Northwest Bancshares in a report on Sunday, October 8th. Zacks Investment Research lowered shares of Northwest Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, October 26th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Northwest Bancshares in a report on Tuesday, October 24th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.67.

A number of institutional investors and hedge funds have recently bought and sold shares of NWBI. Public Employees Retirement System of Ohio lifted its position in Northwest Bancshares by 2.5% in the 2nd 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 in the last quarter. SG Americas Securities LLC lifted its position in Northwest Bancshares by 32.9% in the 2nd 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 in the last quarter. Shelton Capital Management bought a new stake in Northwest Bancshares in the 2nd quarter valued at $158,000. Riverhead Capital Management LLC lifted its position in Northwest Bancshares by 53.9% in the 2nd 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 in the last quarter. Finally, Clinton Group Inc. bought a new stake in Northwest Bancshares in the 2nd quarter valued at $160,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

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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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