Norwood Financial (NASDAQ:NWFL) Posts Quarterly Earnings Results, Hits Expectations

by · The Cerbat Gem

Norwood Financial (NASDAQ:NWFL – Get Free Report) posted its quarterly earnings data on Thursday. The financial services provider reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85, FiscalAI reports. The company had revenue of $23.46 million during the quarter, compared to analyst estimates of $23.50 million. Norwood Financial had a return on equity of 10.68% and a net margin of 6.82%.

Norwood Financial Price Performance

NASDAQ NWFL opened at $29.01 on Thursday. Norwood Financial has a one year low of $21.25 and a one year high of $30.59. The stock has a 50-day moving average of $28.46 and a 200 day moving average of $26.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $268.63 million, a price-to-earnings ratio of 44.63 and a beta of 0.61.

Norwood Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Thursday, January 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.4%. This is a boost from Norwood Financial’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, January 15th. Norwood Financial’s payout ratio is 196.92%.

Analyst Upgrades and Downgrades

NWFL has been the topic of a number of recent research reports. Zacks Research cut Norwood Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Wall Street Zen upgraded shares of Norwood Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Norwood Financial in a research note on Monday, December 29th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.50.

Get Our Latest Stock Analysis on NWFL

Insider Activity

In related news, Director James Shook purchased 3,800 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were purchased at an average price of $26.71 per share, with a total value of $101,498.00. Following the acquisition, the director directly owned 4,830 shares in the company, valued at $129,009.30. The trade was a 368.93% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its position in Norwood Financial by 130.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,061 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 601 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Norwood Financial by 293.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,771 shares of the financial services provider’s stock worth $46,000 after buying an additional 1,321 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Norwood Financial by 144.5% in the third quarter. BNP Paribas Financial Markets now owns 2,100 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 1,241 shares during the period. Russell Investments Group Ltd. increased its position in Norwood Financial by 68.9% during the third quarter. Russell Investments Group Ltd. now owns 2,138 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 872 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Norwood Financial by 18.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,909 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 765 shares during the last quarter. Institutional investors own 28.08% of the company’s stock.

Norwood Financial Company Profile

(Get Free Report)

Norwood Financial Corporation is the bank holding company for Norwood Bank, a community-oriented financial institution headquartered in Norwood, Massachusetts. Incorporated in 2010, the company oversees a network of branch offices serving suburban and metropolitan communities in eastern Massachusetts. Norwood Financial’s mission emphasizes personalized service, local decision-making and a commitment to supporting neighborhood growth.

The company’s primary business activities encompass a full suite of personal and commercial banking products and services.

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