Northwest Bancshares, Inc. (NASDAQ:NWBI) Director John P. Meegan Purchases 1,000 Shares

Northwest Bancshares, Inc. (NASDAQ:NWBI) Director John P. Meegan purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were purchased at an average price of $16.14 per share, with a total value of $16,140.00. Following the completion of the acquisition, the director now directly owns 53,950 shares in the company, valued at $870,753. The purchase was disclosed in a filing with the SEC, which is available through this link.

Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) traded up $0.29 during mid-day trading on Thursday, reaching $16.97. 424,200 shares of the company traded hands, compared to its average volume of 544,128. Northwest Bancshares, Inc. has a one year low of $14.95 and a one year high of $18.63. The stock has a market cap of $1,712.83, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 1.62 and a beta of 0.64. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.18.

Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Monday, January 22nd. The savings and loans company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The company had revenue of $107.15 million for the quarter, compared to the consensus estimate of $108.15 million. Northwest Bancshares had a net margin of 20.11% and a return on equity of 7.23%. analysts anticipate that Northwest Bancshares, Inc. will post 1.03 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.68 annualized dividend and a yield of 4.01%. This is a boost from Northwest Bancshares’s previous quarterly dividend of $0.16. Northwest Bancshares’s dividend payout ratio is currently 73.91%.

A number of institutional investors and hedge funds have recently bought and sold shares of NWBI. BlackRock Inc. lifted its stake in Northwest Bancshares by 4.3% during the 4th quarter. BlackRock Inc. now owns 13,113,000 shares of the savings and loans company’s stock valued at $219,380,000 after acquiring an additional 535,670 shares during the period. Assenagon Asset Management S.A. lifted its stake in Northwest Bancshares by 185.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 503,919 shares of the savings and loans company’s stock valued at $8,431,000 after acquiring an additional 327,659 shares during the period. Koch Industries Inc. bought a new position in Northwest Bancshares during the 2nd quarter valued at about $237,000. Dean Investment Associates LLC lifted its stake in Northwest Bancshares by 319.4% during the 4th quarter. Dean Investment Associates LLC now owns 267,159 shares of the savings and loans company’s stock valued at $4,470,000 after acquiring an additional 203,459 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Northwest Bancshares by 33.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 562,856 shares of the savings and loans company’s stock valued at $9,416,000 after acquiring an additional 142,041 shares during the period. Institutional investors and hedge funds own 65.19% of the company’s stock.

A number of research analysts have issued reports on the stock. BidaskClub raised shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Zacks Investment Research downgraded shares of Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 26th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Northwest Bancshares in a research report on Tuesday, October 24th. Five equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $17.25.

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Northwest Bancshares Company Profile

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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