Northwest Bancshares, Inc. (NASDAQ:NWBI – Get 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.
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.
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
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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