Devin T. Cygnar Sells 3,843 Shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) Stock

Northwest Bancshares, Inc. (NASDAQ:NWBI) EVP Devin T. Cygnar sold 3,843 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $11.08, for a total value of $42,580.44. Following the completion of the sale, the executive vice president now owns 11,823 shares of the company’s stock, valued at $130,998.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Northwest Bancshares Price Performance

Shares of NWBI stock opened at $11.11 on Thursday. The business has a fifty day simple moving average of $11.15 and a 200 day simple moving average of $11.54. The company has a market cap of $1.41 billion, a P/E ratio of 10.79 and a beta of 0.62. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.42. Northwest Bancshares, Inc. has a twelve month low of $9.80 and a twelve month high of $13.07.

Northwest Bancshares (NASDAQ:NWBI) last issued its earnings results on Monday, April 22nd. The savings and loans company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. The firm had revenue of $188.20 million during the quarter, compared to the consensus estimate of $132.80 million. Northwest Bancshares had a return on equity of 8.77% and a net margin of 17.84%. On average, sell-side analysts forecast that Northwest Bancshares, Inc. will post 0.92 EPS for the current fiscal year.

Northwest Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.20%. Northwest Bancshares’s dividend payout ratio (DPR) is presently 77.67%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in Northwest Bancshares by 40.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 17,021 shares of the savings and loans company’s stock worth $174,000 after purchasing an additional 4,945 shares in the last quarter. Raymond James & Associates increased its stake in shares of Northwest Bancshares by 11.4% in the third quarter. Raymond James & Associates now owns 34,584 shares of the savings and loans company’s stock valued at $354,000 after buying an additional 3,540 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Northwest Bancshares in the 3rd quarter valued at approximately $199,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Northwest Bancshares by 6.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,874 shares of the savings and loans company’s stock valued at $694,000 after buying an additional 3,961 shares during the last quarter. Finally, Northwest Bancshares Inc. boosted its position in Northwest Bancshares by 0.4% during the 3rd quarter. Northwest Bancshares Inc. now owns 338,068 shares of the savings and loans company’s stock worth $3,458,000 after buying an additional 1,211 shares during the period. 66.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on NWBI shares. Piper Sandler cut their target price on Northwest Bancshares from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, April 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $12.00 price target (down previously from $13.00) on shares of Northwest Bancshares 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.