5 Cheap Blue-Chip Dividend Stocks to Invest In

1. Northwest Bancshares, Inc. (NASDAQ: NWBI)

Number of Hedge Fund Holders: 12
Dividend Yield: 6.12%

Share Price as of August 25: $13.08

Northwest Bancshares, Inc. (NASDAQ: NWBI) is the holding company for Northwest Bank. The company offers personal and business banking solutions and accepts deposits, like checking, savings, money market deposits, term certificates, and individual retirement accounts. It ranks 1st on our list of cheap blue-chip dividend stocks to invest in.

B. Riley analyst Steve Moss holds a Neutral rating and $14 price target on shares of Northwest Bancshares, Inc. (NASDAQ: NWBI) as of this July.

In the second quarter of 2021, Northwest Bancshares, Inc. (NASDAQ: NWBI) had an EPS of $0.24, missing estimates by $0.03. The company’s revenue was $150.44 million, up 12.62% year over year and beating estimates by $19.37 million. Northwest Bancshares, Inc. (NASDAQ: NWBI) has gained 3.32% year to date and 28.24% in the past year.

By the end of the second quarter of 2021, 12 hedge funds out of the 873 tracked by Insider Monkey held stakes in Northwest Bancshares, Inc. (NASDAQ: NWBI) worth roughly $25 million. This is compared to 14 hedge funds in the previous quarter with a total stake value of approximately $33 million.

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