Northwest Bancshares, Inc. (NASDAQ:NWBI) CFO Purchases $99,330.00 in Stock

Northwest Bancshares, Inc. (NASDAQ:NWBI) CFO Douglas M. Schosser purchased 7,000 shares of Northwest Bancshares stock in a transaction dated Thursday, July 25th. The stock was bought at an average price of $14.19 per share, for a total transaction of $99,330.00. Following the completion of the purchase, the chief financial officer now owns 46,347 shares in the company, valued at approximately $657,663.93. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Northwest Bancshares Stock Performance

Northwest Bancshares stock opened at $14.26 on Monday. The business has a 50 day moving average of $11.59 and a 200-day moving average of $11.53. The company has a market capitalization of $1.81 billion, a P/E ratio of 13.84 and a beta of 0.64. Northwest Bancshares, Inc. has a 1 year low of $9.80 and a 1 year high of $14.55. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.95 and a quick ratio of 0.95.

Northwest Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.61%. The ex-dividend date of this dividend is Friday, August 2nd. Northwest Bancshares’s dividend payout ratio (DPR) is currently 77.67%.

Hedge Funds Weigh In On Northwest Bancshares

Several large investors have recently modified their holdings of NWBI. Nisa Investment Advisors LLC increased 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 valued at $34,000 after purchasing an additional 1,420 shares during the period. CWM LLC increased its stake in shares of Northwest Bancshares by 164.6% in the fourth quarter. CWM LLC now owns 4,918 shares of the savings and loans company’s stock valued at $61,000 after buying an additional 3,059 shares during the period. International Assets Investment Management LLC increased its stake in shares of 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 valued at $64,000 after buying an additional 4,684 shares during the period. IVC Wealth Advisors LLC bought a new position in shares of Northwest Bancshares during the first quarter worth about $124,000. Finally, First Merchants Corp acquired a new position in shares of Northwest Bancshares in the fourth quarter worth approximately $126,000. Institutional investors own 66.32% of the company’s stock.

Analyst Ratings Changes

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