|Bid||9.00 x 4000|
|Ask||9.73 x 4000|
|Day's Range||8.94 - 9.18|
|52 Week Range||8.52 - 17.74|
|Beta (5Y Monthly)||0.62|
|PE Ratio (TTM)||16.50|
|Earnings Date||Oct 19, 2020 - Oct 23, 2020|
|Forward Dividend & Yield||0.76 (8.40%)|
|Ex-Dividend Date||Aug 05, 2020|
|1y Target Est||10.25|
Northwest Bancshares (NWBI) intends to enhance branch efficiency technology upgrades. These efforts will lead to cost savings.
On September 14, 2020, Northwest Bancshares, Inc. (the "Company") announced plans to optimize its branch network as part of its ongoing efforts to accommodate changing customer behaviors while also recognizing operating efficiencies. The Company plans to close 42 of its 205 full-service offices, or approximately 20%, throughout its footprint, one free-standing drive-through and one business office beginning Monday, December 14 through Friday, December 18, 2020.
Northwest Bancshares, Inc. (NASDAQ-GS: NWBI) ("Northwest Bancshares"), the parent company of Northwest Bank, today announced the pricing of its public offering of $125.0 million aggregate principal amount of 4.00% Fixed-to-Floating Rate Subordinated Notes due 2030 (the "Notes"). The price to the public is 100% of the principal amount of the Notes. Interest on the Notes initially will accrue at a rate equal to 4.00% per annum from and including September 9, 2020 to, but excluding, September 15, 2025 or the earlier redemption date, payable semi-annually in arrears. From and including September 15, 2025 to, but excluding, September 15, 2030 or the earlier redemption date, interest will accrue at a floating rate per annum equal to a benchmark rate, which is expected to be Three-Month Term SOFR (as defined in the indenture relating to the Notes), plus a spread of 389 basis points, payable quarterly in arrears. The Notes are intended to qualify as Tier 2 capital for regulatory purposes. The offering is expected to close on or about September 9, 2020, subject to the satisfaction of customary closing conditions.