Insider Buying: Northwest Bancshares, Inc. (NWBI) Director Acquires $33,500.00 in Stock

Northwest Bancshares, Inc. (NASDAQ:NWBI) Director Timothy M. Hunter purchased 2,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were acquired at an average price of $16.75 per share, for a total transaction of $33,500.00. Following the completion of the transaction, the director now directly owns 15,100 shares of the company’s stock, valued at approximately $252,925. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Shares of Northwest Bancshares, Inc. (NWBI) traded down $0.09 during mid-day trading on Friday, reaching $16.66. 341,286 shares of the company’s stock were exchanged, compared to its average volume of 391,059. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.19. Northwest Bancshares, Inc. has a one year low of $14.95 and a one year high of $19.10. The stock has a market capitalization of $1,709.65, a P/E ratio of 18.93, a PEG ratio of 1.97 and a beta of 0.63.

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

The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Wednesday, November 1st. Northwest Bancshares’s dividend payout ratio (DPR) is 68.09%.

A number of equities analysts have commented on NWBI shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $16.00 target price on shares of Northwest Bancshares in a research note on Sunday, October 8th. Boenning Scattergood reaffirmed a “hold” rating on shares of Northwest Bancshares in a research note on Tuesday, October 24th. Finally, Zacks Investment Research downgraded shares of Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 26th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.67.

Institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its stake in shares of 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 during the period. SG Americas Securities LLC raised its stake in shares of 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 during the period. Shelton Capital Management purchased a new stake in shares of Northwest Bancshares in the 2nd quarter valued at approximately $158,000. Riverhead Capital Management LLC raised its stake in shares of 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 during the period. Finally, Clinton Group Inc. purchased a new stake in shares of Northwest Bancshares in the 2nd quarter valued at approximately $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.

Insider Buying and Selling by Quarter for Northwest Bancshares (NASDAQ:NWBI)

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