Today, Northwest Bancshares Inc. (NWBI) Director Sold $173,647.50 in Stock

Today, Northwest Bancshares Inc. (NWBI) Director Sold $173,647.50 in Stock
Northwest Bancshares Inc. (NASDAQ:NWBI) Director Philip M. Tredway sold 9,750 shares of Northwest Bancshares stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $17.81, for a total transaction of $173,647.50. Following the transaction, the director now directly owns 35,384 shares of the company’s stock, valued at $630,189.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Northwest Bancshares Inc. (NASDAQ:NWBI) opened at 18.25 on Friday. The firm has a 50-day moving average of $16.26 and a 200 day moving average of $15.28. Northwest Bancshares Inc. has a one year low of $11.77 and a one year high of $18.29. The stock has a market capitalization of $1.85 billion, a PE ratio of 44.51 and a beta of 0.55.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Tuesday, November 1st. Northwest Bancshares’s payout ratio is presently 146.35%.

A number of brokerages recently issued reports on NWBI. Zacks Investment Research raised shares of Northwest Bancshares from a “hold” rating to a “strong-buy” rating and set a $17.00 price target for the company in a research report on Thursday, July 28th. FBR & Co lifted their target price on shares of Northwest Bancshares from $15.00 to $16.00 and gave the stock a “mkt perform” rating in a report on Wednesday, October 26th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Northwest Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Tuesday, September 13th.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank boosted its position in Northwest Bancshares by 5.5% in the second quarter. Amalgamated Bank now owns 11,493 shares of the company’s stock worth $174,000 after buying an additional 600 shares during the last quarter. Prudential Financial Inc. boosted its position in Northwest Bancshares by 1.4% in the second quarter. Prudential Financial Inc. now owns 246,748 shares of the company’s stock worth $3,659,000 after buying an additional 3,380 shares during the last quarter. PineBridge Investments L.P. boosted its position in Northwest Bancshares by 3.9% in the second quarter. PineBridge Investments L.P. now owns 12,917 shares of the company’s stock worth $192,000 after buying an additional 481 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Northwest Bancshares by 88.7% in the second quarter. BNP Paribas Arbitrage SA now owns 40,106 shares of the company’s stock worth $595,000 after buying an additional 18,849 shares during the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in Northwest Bancshares during the second quarter worth approximately $15,232,000. Hedge funds and other institutional investors own 66.90% of the company’s stock.

About Northwest Bancshares

Northwest Bancshares, Inc (Northwest) is a savings and loan holding company. The Company’s principal business consists of attracting deposits and making loans secured by various types of collateral, including real estate and other assets in the markets in which it operates. Its subsidiary, Northwest Bank, is a Pennsylvania-chartered stock savings bank.

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