Northwest Bancshares, Inc. (NASDAQ:NWBI) Declares $0.20 Quarterly Dividend

Northwest Bancshares, Inc. (NASDAQ:NWBIGet Free Report) announced a quarterly dividend on Monday, January 22nd, Zacks reports. Shareholders of record on Friday, February 2nd will be paid a dividend of 0.20 per share by the savings and loans company on Wednesday, February 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date is Thursday, February 1st.

Northwest Bancshares has raised its dividend by an average of 1.7% per year over the last three years. Northwest Bancshares has a payout ratio of 77.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Northwest Bancshares to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 79.2%.

Northwest Bancshares Trading Down 0.5 %

Shares of NWBI stock opened at $12.91 on Wednesday. The stock’s fifty day moving average price is $12.18 and its two-hundred day moving average price is $11.39. The company has a market cap of $1.64 billion, a PE ratio of 12.18 and a beta of 0.63. Northwest Bancshares has a fifty-two week low of $9.80 and a fifty-two week high of $14.64. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.95 and a current ratio of 0.96.

Northwest Bancshares (NASDAQ:NWBIGet Free Report) last issued its earnings results on Monday, January 22nd. The savings and loans company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. The firm had revenue of $186.56 million for the quarter, compared to the consensus estimate of $133.06 million. Northwest Bancshares had a return on equity of 9.21% and a net margin of 19.23%. Equities analysts predict that Northwest Bancshares will post 0.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NWBI has been the topic of a number of research analyst reports. StockNews.com assumed coverage on Northwest Bancshares in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Keefe, Bruyette & Woods raised their price objective on Northwest Bancshares from $12.00 to $13.00 and gave the company a “market perform” rating in a report on Tuesday, January 23rd.

View Our Latest Stock Analysis on NWBI

Insider Activity at Northwest Bancshares

In other news, EVP Devin T. Cygnar acquired 13,692 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were bought at an average price of $10.96 per share, with a total value of $150,064.32. Following the acquisition, the executive vice president now directly owns 13,692 shares in the company, valued at approximately $150,064.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Scott J. Watson bought 5,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was acquired at an average cost of $12.90 per share, with a total value of $64,500.00. Following the transaction, the executive vice president now directly owns 35,282 shares in the company, valued at $455,137.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Devin T. Cygnar bought 13,692 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were bought at an average cost of $10.96 per share, with a total value of $150,064.32. Following the completion of the transaction, the executive vice president now owns 13,692 shares in the company, valued at $150,064.32. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Guggenheim Capital LLC bought a new position in Northwest Bancshares during the 1st quarter worth $155,000. Tower Research Capital LLC TRC raised its position in shares of Northwest Bancshares by 35.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 11,407 shares of the savings and loans company’s stock worth $154,000 after acquiring an additional 2,990 shares in the last quarter. Toroso Investments LLC raised its position in shares of Northwest Bancshares by 24.0% in the 1st quarter. Toroso Investments LLC now owns 12,589 shares of the savings and loans company’s stock worth $151,000 after acquiring an additional 2,439 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Northwest Bancshares in the 1st quarter worth about $132,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Northwest Bancshares in the 2nd quarter worth about $128,000. 65.21% of the stock is owned by institutional investors.

About Northwest Bancshares

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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.

See Also

Dividend History for Northwest Bancshares (NASDAQ:NWBI)

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