Northwest Bancshares, Inc. Buyback
OLI recorded this information on 12/13/2012
Company:
Northwest Bancshares, Inc.
Buyback:
NWBI buyback
Shares Announced Repurchased:
5,000,000
Share Amount Authorized:
7,600,000
Buyback Details:
Northwest Bancshares, Inc. announced that its Board of Directors has authorized expanding its existing stock repurchase program to repurchase 5,000,000 additional shares, or approximately 5.2%, of the Company's outstanding common stock. The existing stock repurchase program was initiated on September 26, 2011 and authorized the repurchase of 4,750,000 shares of common stock, of which approximately 2,600,000 shares remain to be repurchased. The Company has repurchased approximately 16,500,000 shares, or approximately 15%, of its common stock, since completing its second step conversion on December 18, 2009.
Northwest Bancshares is a savings and loan holding company for its wholly owned subsidiary, Northwest Bank. Northwest Bank is financial institution providing personal and business banking solutions, investment management and trust services. Co.'s principal lending activities are the origination of loans secured by first mortgages on owner-occupied, one-to-four-family residences, shorter term consumer loans, and commercial business and commercial real estate loans. Co.'s deposit instruments include checking accounts, savings accounts, money market deposit accounts, term certificate accounts and individual retirement accounts.
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Hold (1.67 out of 4) 0th percentile
(ranked lower than approx. 100% of all stocks covered)
Analysts' Target Price: NWBI Stock Forecast Based on Zacks ABR data; powered by Xignite |