Northwest Bancshares Inc (NWBI) Becoming More Attractive for Investors

Northwest Bancshares Inc’s recent filing unveils that its EVP, Chief Information Officer Watson Scott J acquired Company’s shares for reported $64512.0 on Jan 24. In the deal valued at $12.90 per share,5,000 shares were bought. As a result of this transaction, Watson Scott J now holds 35,282 shares worth roughly $0.43 million.

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Then, Fannin Timothy B sold 6,110 shares, generating $74,175 in total proceeds. Upon selling the shares at $12.14, the Director now owns 22,608 shares.

Before that, Cygnar Devin T bought 13,692 shares. Northwest Bancshares Inc shares valued at $150,000 were divested by the EVP, Chief Mktg/Comm. Officer at a price of $10.96 per share. As a result of the transaction, Cygnar Devin T now holds 13,692 shares, worth roughly $0.17 million.

Janney initiated its Northwest Bancshares Inc [NWBI] rating to a Neutral in a research note published on Monday, September 29, 2022; the price target was $15.

Price Performance Review of NWBI

On Monday, Northwest Bancshares Inc [NASDAQ:NWBI] saw its stock jump 1.85% to $12.13. Over the last five days, the stock has gained 2.80%. Northwest Bancshares Inc shares have fallen nearly -2.80% since the year began. Nevertheless, the stocks have fallen -13.05% over the past one year. While a 52-week high of $14.25 was reached on 01/25/24, a 52-week low of $9.80 was recorded on 02/08/24. SMA at 50 days reached $12.26, while 200 days put it at $11.27. A total of 0.78 million shares were traded, compared to the trading of 0.55 million shares in the previous session.

Levels Of Support And Resistance For NWBI Stock

The 24-hour chart illustrates a support level at 11.94, which if violated will result in even more drops to 11.75. On the upside, there is a resistance level at 12.30. A further resistance level may holdings at 12.48. The Relative Strength Index (RSI) on the 14-day chart is 48.37, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.36, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 59.87%. Stochastics %K at 27.18% indicates the stock is a holding.

How much short interest is there in Northwest Bancshares Inc?

A steep rise in short interest was recorded in Northwest Bancshares Inc stocks on Jan 31, 2024, dropping by -1.85 million shares to a total of 4.48 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 6.33 million shares. There was a decline of -41.29%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.83% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.61.

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