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Mark A. Paup, a director at Northwest Bancshares, Inc. (NASDAQ:NWBI), recently acquired 5,000 shares of the company’s common stock. The purchase, which took place on February 4, 2025, was made at a price of $12.66 per share, totaling approximately $63,300. The stock currently trades at $13.09, and according to InvestingPro analysis, appears undervalued relative to its Fair Value. Following this transaction, Paup’s direct ownership stands at 54,988.743 shares. Additionally, shares indirectly owned through his spouse amount to 9,925.746. This transaction reflects an ongoing interest in the company’s stock by its board members. The $1.66 billion market cap company boasts a notable 6.27% dividend yield and has maintained dividend payments for 31 consecutive years. InvestingPro subscribers can access 6 additional key insights about NWBI’s financial health and future prospects.
In other recent news, Northwest Bancshares has been the focus of several significant developments. DA Davidson revised its price target for the company to $13.00, maintaining a neutral rating due to higher-than-expected credit costs despite the company beating core pre-provision net revenue (PPNR) expectations. In addition, Northwest Bancshares announced an all-stock transaction to acquire Penns Woods Bancorp, Inc., a move expected to significantly bolster its presence in North Central and Northeastern Pennsylvania.
The company also made substantial changes to its executive compensation agreements and bylaws, as announced in a recent 8-K filing with the Securities and Exchange Commission. Among the changes, the company introduced provisions for annual cash bonuses and long-term equity incentive awards, expanded the noncompete clause’s geographic scope, and added a tax provision to reduce payments that could trigger adverse tax consequences.
Lastly, Northwest Bancshares received an updated price target from DA Davidson, raising it to $14.00 from the previous $13.00, based on a positive net interest margin trajectory and slightly better credit costs. These developments underscore the ongoing evolution and strategic moves within Northwest Bancshares.
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