Norwood Financial (NASDAQ:NWFL) Downgraded by Zacks Research to “Hold”

Zacks Research cut shares of Norwood Financial (NASDAQ:NWFL) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

A number of other analysts have also commented on the stock. Wall Street Zen raised shares of Norwood Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Norwood Financial in a research note on Monday. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $28.50.

Norwood Financial Stock Down 0.9%

NASDAQ:NWFL opened at $28.66 on Monday. The stock has a 50-day simple moving average of $27.58 and a 200 day simple moving average of $26.25. Norwood Financial has a 52-week low of $21.25 and a 52-week high of $30.59. The company has a market cap of $265.39 million, a PE ratio of 44.09 and a beta of 0.59. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.90 and a current ratio of 0.90.

Norwood Financial (NASDAQ:NWFL) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.68 by $0.26. Norwood Financial had a return on equity of 10.68% and a net margin of 6.82%.The firm had revenue of $22.96 million for the quarter, compared to analysts’ expectations of $22.10 million. During the same quarter in the previous year, the business posted $0.48 EPS. On average, sell-side analysts expect that Norwood Financial will post 2.51 EPS for the current fiscal year.

Norwood Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Thursday, January 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, January 15th. This is a positive change from Norwood Financial’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 4.5%. Norwood Financial’s dividend payout ratio is presently 190.77%.

Insider Transactions at Norwood Financial

In other news, Director James Shook purchased 3,800 shares of the company’s stock in a transaction on Monday, October 27th. The shares were purchased at an average cost of $26.71 per share, with a total value of $101,498.00. Following the completion of the transaction, the director owned 4,830 shares of the company’s stock, valued at $129,009.30. The trade was a 368.93% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Norwood Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. lifted its stake 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 valued at $27,000 after purchasing an additional 601 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Norwood Financial by 293.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,771 shares of the financial services provider’s stock valued at $46,000 after buying an additional 1,321 shares during the period. BNP Paribas Financial Markets lifted its position 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 valued at $53,000 after buying an additional 1,241 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Norwood Financial by 68.9% in the third quarter. Russell Investments Group Ltd. now owns 2,138 shares of the financial services provider’s stock valued at $54,000 after buying an additional 872 shares during the last quarter. Finally, Corebridge Financial Inc. boosted its stake in shares of Norwood Financial by 13.0% during the 1st quarter. Corebridge Financial Inc. now owns 4,079 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 468 shares during the period. 28.08% of the stock is owned by institutional investors.

About Norwood Financial

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.