Northwest Bancshares, Inc. (NASDAQ:NWBI) announced a quarterly dividend on Tuesday, October 23rd, Wall Street Journal reports. Shareholders of record on Thursday, November 1st will be paid a dividend of 0.17 per share by the savings and loans company on Thursday, November 15th. This represents a $0.68 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Wednesday, October 31st.
Northwest Bancshares has raised its dividend by an average of 7.2% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Northwest Bancshares has a dividend payout ratio of 67.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Northwest Bancshares to earn $1.06 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 64.2%.
Shares of NASDAQ NWBI opened at $16.21 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.00. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 2.20 and a beta of 0.71. Northwest Bancshares has a fifty-two week low of $15.34 and a fifty-two week high of $18.56.
NWBI has been the subject of several research analyst reports. Boenning Scattergood initiated coverage on Northwest Bancshares in a research note on Monday, July 23rd. They issued a “hold” rating for the company. BidaskClub upgraded Northwest Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, October 6th. Finally, Zacks Investment Research cut Northwest Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th.
In other news, insider William J. Wagner sold 66,713 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $17.84, for a total value of $1,190,159.92. Following the completion of the sale, the insider now directly owns 210,088 shares in the company, valued at $3,747,969.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas J. Townsend sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $18.40, for a total value of $193,200.00. Following the completion of the sale, the executive vice president now owns 24,100 shares of the company’s stock, valued at $443,440. The disclosure for this sale can be found here. Insiders sold 276,701 shares of company stock valued at $5,002,645 over the last 90 days. Company insiders own 2.20% of the company’s stock.
About Northwest Bancshares
Northwest Bancshares, Inc operates as a bank holding company for Northwest Savings Bank that offers various personal and business banking solutions in the United States. The company offers personal and business deposits, such as checking, savings, money market deposit, term certificate, and individual retirement accounts.
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