Insider Buying: Northwest Bancshares, Inc. (NASDAQ:NWBI) CFO Buys 7,000 Shares of Stock

Northwest Bancshares, Inc. (NASDAQ:NWBI) CFO Douglas M. Schosser bought 7,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was bought at an average cost of $14.19 per share, with a total value of $99,330.00. Following the purchase, the chief financial officer now owns 46,347 shares in the company, valued at approximately $657,663.93. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Northwest Bancshares Stock Performance

Northwest Bancshares stock opened at $14.26 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.31. The firm has a market cap of $1.81 billion, a P/E ratio of 13.84 and a beta of 0.64. Northwest Bancshares, Inc. has a 1-year low of $9.80 and a 1-year high of $14.55. The firm has a 50-day moving average of $11.59 and a 200-day moving average of $11.53.

Northwest Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.61%. Northwest Bancshares’s dividend payout ratio is currently 77.67%.

Hedge Funds Weigh In On Northwest Bancshares

Several hedge funds have recently made changes to their positions in the business. Denali Advisors LLC bought a new stake in Northwest Bancshares in the fourth quarter valued at $253,000. International Assets Investment Management LLC raised its holdings in Northwest Bancshares by 1,148.0% in the 4th quarter. International Assets Investment Management LLC now owns 5,092 shares of the savings and loans company’s stock worth $64,000 after purchasing an additional 4,684 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Northwest Bancshares by 9.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,540 shares of the savings and loans company’s stock worth $930,000 after purchasing an additional 6,666 shares during the period. First Merchants Corp bought a new stake in shares of Northwest Bancshares during the 4th quarter valued at about $126,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Northwest Bancshares during the fourth quarter valued at about $794,000. 66.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NWBI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $12.00 price target (down from $13.00) on shares of Northwest Bancshares in a research note on Tuesday, April 23rd. Piper Sandler decreased their target price on shares of Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 23rd.

Northwest Bancshares Company Profile

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.