Bag This Bargain 4.3% Yielder Even Cheaper Than Director Hunter Did

Bag This Bargain 4.3% Yielder Even Cheaper Than Director Hunter Did

By Dividend Channel Staff, Friday, November 22, 10:04 AM ET

Start slideshow:

10 Dividend Bargains You Can Buy Cheaper Than Insiders Did»

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 6, Northwest Bancshares, Inc. 's Director, Timothy M. Hunter, invested $169,388.00 into 10,000 shares of NWBI, for a cost per share of $16.94. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

In trading on Friday, bargain hunters could buy shares of Northwest Bancshares, Inc. (NASDAQ:NWBI) and achieve a cost basis 2.5% cheaper than Hunter, with shares changing hands as low as $16.52 per share. Northwest Bancshares, Inc. shares are currently trading up about 0.1% on the day. The chart below shows the one year performance of NWBI shares, versus its 200 day moving average:

Looking at the chart above, NWBI's low point in its 52 week range is $15.46 per share, with $18.81 as the 52 week high point — that compares with a last trade of $16.57. By comparison, below is a table showing the prices at which NWBI insider buying was recorded over the last six months:

The current annualized dividend paid by Northwest Bancshares, Inc. is $0.72/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 10/31/2019. Below is a long-term dividend history chart for NWBI, which can be of good help in judging whether the most recent dividend with approx. 4.3% annualized yield is likely to continue.

Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter

Timothy M. Hunter