Northwest Bancshares Inc. (NWBI) Hits New 52-Week High at $15.61

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Shares of Northwest Bancshares Inc. (NASDAQ:NWBI) reached a new 52-week high on Wednesday . The company traded as high as $15.61 and last traded at $15.61, with a volume of 157,583 shares. The stock had previously closed at $15.50.
A number of brokerages have recently commented on NWBI. FBR & Co lifted their price target on shares of Northwest Bancshares from $14.00 to $15.00 and gave the stock a “mkt perform” rating in a report on Tuesday, July 26th. Zacks Investment Research upgraded shares of Northwest Bancshares from a “hold” rating to a “strong-buy” rating and set a $17.00 price target on the stock in a report on Thursday, July 28th.
The firm has a market cap of $1.60 billion and a P/E ratio of 38.33. The company has a 50-day moving average price of $15.15 and a 200 day moving average price of $14.26.

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Northwest Bancshares (NASDAQ:NWBI) last announced its quarterly earnings results on Monday, July 25th. The company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.27. Equities research analysts forecast that Northwest Bancshares Inc. will post $0.58 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 18th. Shareholders of record on Thursday, August 4th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Tuesday, August 2nd.
In other Northwest Bancshares news, EVP Andrew Young sold 8,425 shares of the stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $14.37, for a total value of $121,067.25. Following the sale, the executive vice president now directly owns 56,111 shares in the company, valued at approximately $806,315.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael G. Smelko sold 10,125 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $14.98, for a total transaction of $151,672.50. Following the completion of the sale, the vice president now owns 72,171 shares in the company, valued at $1,081,121.58. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
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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