Northwest Bancshares, Inc. (NASDAQ:NWBI) EVP Jeffrey J. Maddigan Buys 9,600 Shares

Northwest Bancshares, Inc. (NASDAQ:NWBI) 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) 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

The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Thursday, August 3rd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 7.35%. The ex-dividend date of this dividend was Wednesday, August 2nd. Northwest Bancshares’s dividend payout ratio is currently 74.07%.

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.