Northwest Bancshares, Inc. (NASDAQ:NWBI) COO William W. Harvey Sells 13,614 Shares

Northwest Bancshares, Inc. (NASDAQ:NWBI) COO William W. Harvey sold 13,614 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $14.18, for a total transaction of $193,046.52. Following the completion of the transaction, the chief operating officer now directly owns 208,302 shares of the company’s stock, valued at $2,953,722.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Northwest Bancshares Stock Performance

Northwest Bancshares stock traded down $0.19 during mid-day trading on Monday, hitting $14.07. 323,069 shares of the company’s stock traded hands, compared to its average volume of 745,604. The firm has a 50 day simple moving average of $11.59 and a two-hundred day simple moving average of $11.53. Northwest Bancshares, Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $14.55. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 13.84 and a beta of 0.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.95 and a quick ratio of 0.95.

Northwest Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.69%. The ex-dividend date is Friday, August 2nd. Northwest Bancshares’s dividend payout ratio is 77.67%.

Institutional Investors Weigh In On Northwest Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Northwest Bancshares by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,581,520 shares of the savings and loans company’s stock worth $44,697,000 after buying an additional 78,513 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Northwest Bancshares by 3,568.5% during the fourth quarter. Hsbc Holdings PLC now owns 580,655 shares of the savings and loans company’s stock worth $7,298,000 after buying an additional 564,827 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Northwest Bancshares by 63.8% during the fourth quarter. Rafferty Asset Management LLC now owns 146,317 shares of the savings and loans company’s stock worth $1,826,000 after buying an additional 57,015 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Northwest Bancshares by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,712,088 shares of the savings and loans company’s stock worth $108,729,000 after buying an additional 90,425 shares in the last quarter. Finally, WBI Investments LLC lifted its holdings in shares of Northwest Bancshares by 4.6% during the fourth quarter. WBI Investments LLC now owns 32,399 shares of the savings and loans company’s stock worth $404,000 after buying an additional 1,416 shares in the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

Wall Street Analyst Weigh In

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

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.