Northwest Bancshares, Inc. (NASDAQ:NWBI) EVP Devin T. Cygnar Sells 3,843 Shares

Northwest Bancshares, Inc. (NASDAQ:NWBI) EVP Devin T. Cygnar sold 3,843 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $11.08, for a total value of $42,580.44. Following the transaction, the executive vice president now owns 11,823 shares in the company, valued at approximately $130,998.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Northwest Bancshares Stock Performance

Shares of Northwest Bancshares stock opened at $11.11 on Thursday. The firm has a market cap of $1.41 billion, a PE ratio of 10.79 and a beta of 0.62. Northwest Bancshares, Inc. has a 1 year low of $9.80 and a 1 year high of $13.07. The firm’s 50-day simple moving average is $11.15 and its 200-day simple moving average is $11.54. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.96.

Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings data on Monday, April 22nd. The savings and loans company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. Northwest Bancshares had a return on equity of 8.77% and a net margin of 17.84%. The firm had revenue of $188.20 million for the quarter, compared to analysts’ expectations of $132.80 million. Equities analysts forecast that Northwest Bancshares, Inc. will post 0.92 earnings per share for the current fiscal year.

Northwest Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, May 2nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $0.80 dividend on an annualized basis and a yield of 7.20%. Northwest Bancshares’s payout ratio is currently 77.67%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NWBI. Piper Sandler dropped their target price on 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 reaffirmed a “market perform” rating and issued a $12.00 target price (down from $13.00) on shares of Northwest Bancshares in a research report on Tuesday, April 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NWBI. Norges Bank acquired a new stake in shares of Northwest Bancshares in the 4th quarter worth about $7,107,000. Hsbc Holdings PLC boosted its position in Northwest Bancshares by 3,568.5% during the 4th quarter. Hsbc Holdings PLC now owns 580,655 shares of the savings and loans company’s stock worth $7,298,000 after acquiring an additional 564,827 shares during the period. Verition Fund Management LLC increased its holdings in shares of Northwest Bancshares by 2,299.6% during the fourth quarter. Verition Fund Management LLC now owns 418,013 shares of the savings and loans company’s stock valued at $5,217,000 after purchasing an additional 400,593 shares during the period. Invesco Ltd. raised its stake in shares of Northwest Bancshares by 4.9% during the third quarter. Invesco Ltd. now owns 4,917,212 shares of the savings and loans company’s stock valued at $50,303,000 after purchasing an additional 230,058 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Northwest Bancshares by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,503,007 shares of the savings and loans company’s stock worth $35,836,000 after purchasing an additional 138,879 shares during the period. Institutional investors and hedge funds own 66.32% of the company’s stock.

About Northwest Bancshares

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.