Northwest Bancshares, Inc. (NASDAQ:NWBI – Get Free Report) EVP Jeffrey J. Maddigan bought 9,600 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was bought at an average cost of $10.47 per share, for a total transaction of $100,512.00. Following the completion of the acquisition, the executive vice president now directly owns 35,126 shares of the company’s stock, valued at approximately $367,769.22. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Northwest Bancshares Stock Up 3.7 %
NWBI stock opened at $10.89 on Friday. Northwest Bancshares, Inc. has a 1-year low of $9.91 and a 1-year high of $15.35. The business has a fifty day moving average price of $11.40 and a 200-day moving average price of $11.51. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $1.38 billion, a P/E ratio of 10.08 and a beta of 0.59.
Northwest Bancshares (NASDAQ:NWBI – Get Free Report) last posted its quarterly earnings results on Monday, July 24th. The savings and loans company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. Northwest Bancshares had a return on equity of 9.70% and a net margin of 21.88%. The firm had revenue of $173.79 million during the quarter, compared to analysts’ expectations of $135.68 million. Equities analysts forecast that Northwest Bancshares, Inc. will post 1.01 earnings per share for the current fiscal year.
Northwest Bancshares Announces Dividend
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of NWBI. Raymond James & Associates increased its position in Northwest Bancshares by 6.5% during the first quarter. Raymond James & Associates now owns 50,662 shares of the savings and loans company’s stock valued at $684,000 after acquiring an additional 3,072 shares during the last quarter. Bank of New York Mellon Corp increased its position in Northwest Bancshares by 2.9% during the first quarter. Bank of New York Mellon Corp now owns 1,713,076 shares of the savings and loans company’s stock valued at $23,144,000 after acquiring an additional 47,965 shares during the last quarter. Citigroup Inc. increased its position in Northwest Bancshares by 14.1% during the first quarter. Citigroup Inc. now owns 113,168 shares of the savings and loans company’s stock valued at $1,529,000 after acquiring an additional 14,002 shares during the last quarter. Natixis Advisors L.P. purchased a new stake in Northwest Bancshares during the first quarter valued at $204,000. Finally, MetLife Investment Management LLC increased its position in Northwest Bancshares by 55.4% during the first quarter. MetLife Investment Management LLC now owns 65,449 shares of the savings and loans company’s stock valued at $884,000 after acquiring an additional 23,337 shares during the last quarter. Hedge funds and other institutional investors own 65.21% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com started coverage on Northwest Bancshares in a report on Thursday, August 17th. They issued a “sell” rating on the 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.
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