Gerald J. Ritzert Sells 1,400 Shares of Northwest Bancshares, Inc. (NWBI) Stock

Northwest Bancshares, Inc. (NASDAQ:NWBI) EVP Gerald J. Ritzert sold 1,400 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $16.50, for a total transaction of $23,100.00. Following the completion of the sale, the executive vice president now owns 45,857 shares in the company, valued at approximately $756,640.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of Northwest Bancshares, Inc. (NWBI) opened at $16.63 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1,676.89, a PE ratio of 19.21, a PEG ratio of 1.59 and a beta of 0.64. Northwest Bancshares, Inc. has a 1 year low of $14.95 and a 1 year high of $18.63.

Northwest Bancshares (NASDAQ:NWBI) last announced its earnings results on Monday, January 22nd. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $107.15 million for the quarter, compared to analysts’ expectations of $108.15 million. Northwest Bancshares had a net margin of 20.11% and a return on equity of 7.23%. sell-side analysts anticipate that Northwest Bancshares, Inc. will post 1.03 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.09%. This is a boost from Northwest Bancshares’s previous quarterly dividend of $0.16. The ex-dividend date is Wednesday, January 31st. Northwest Bancshares’s dividend payout ratio is currently 73.91%.

NWBI has been the topic of several research analyst reports. Boenning Scattergood reiterated a “hold” rating on shares of Northwest Bancshares in a research note on Tuesday, October 24th. BidaskClub upgraded shares of Northwest Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Zacks Investment Research cut shares of Northwest Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 26th. Five equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $17.25.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp raised its position in shares of Northwest Bancshares by 3.3% during the 2nd quarter. Northern Trust Corp now owns 2,449,958 shares of the savings and loans company’s stock valued at $38,243,000 after buying an additional 78,768 shares in the last quarter. First Trust Advisors LP raised its position in shares of Northwest Bancshares by 7.1% during the 3rd quarter. First Trust Advisors LP now owns 1,636,501 shares of the savings and loans company’s stock valued at $28,262,000 after buying an additional 108,610 shares in the last quarter. State Street Corp raised its position in shares of Northwest Bancshares by 3.8% during the 2nd quarter. State Street Corp now owns 2,516,857 shares of the savings and loans company’s stock valued at $39,287,000 after buying an additional 93,063 shares in the last quarter. Susquehanna International Group LLP raised its position in shares of Northwest Bancshares by 543.1% during the 2nd quarter. Susquehanna International Group LLP now owns 108,037 shares of the savings and loans company’s stock valued at $1,686,000 after buying an additional 91,237 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Northwest Bancshares by 4.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 669,960 shares of the savings and loans company’s stock valued at $11,571,000 after buying an additional 28,537 shares in the last quarter. Hedge funds and other institutional investors own 64.83% of the company’s stock.

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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 segments include Community Banking and Consumer Finance.

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