Norwood Financial (NASDAQ:NWFL) Announces Earnings Results, Meets Estimates

Norwood Financial (NASDAQ:NWFL) released its earnings results on Wednesday. The financial services provider reported $0.86 EPS for the quarter, meeting the consensus estimate of $0.86, FiscalAI reports. Norwood Financial had a net margin of 17.75% and a return on equity of 12.43%. The firm had revenue of $29.37 million for the quarter, compared to analysts’ expectations of $28.10 million.

Norwood Financial Price Performance

Shares of NASDAQ:NWFL opened at $30.96 on Wednesday. The company has a market capitalization of $337.19 million, a PE ratio of 11.42 and a beta of 0.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a fifty day moving average of $30.94 and a 200-day moving average of $30.12. Norwood Financial has a one year low of $23.70 and a one year high of $32.86.

Norwood Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, July 15th. Norwood Financial’s dividend payout ratio is 47.23%.

Insider Activity

In related news, CFO John Martin Mccaffery, Jr. bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were acquired at an average cost of $29.44 per share, for a total transaction of $29,440.00. Following the acquisition, the chief financial officer directly owned 4,000 shares of the company’s stock, valued at $117,760. The trade was a 33.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders acquired 3,297 shares of company stock valued at $97,483. Insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Norwood Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co raised its holdings in shares of Norwood Financial by 75.3% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 880 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 378 shares during the period. Royal Bank of Canada boosted its stake in Norwood Financial by 8.1% in the 4th quarter. Royal Bank of Canada now owns 6,120 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 459 shares during the period. Osaic Holdings Inc. boosted 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 worth $27,000 after purchasing an additional 601 shares during the period. Geode Capital Management LLC grew its position in Norwood Financial by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 201,621 shares of the financial services provider’s stock worth $5,657,000 after purchasing an additional 650 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 worth $119,000 after purchasing an additional 765 shares in the last quarter. Institutional investors and hedge funds own 28.08% of the company’s stock.

Wall Street Analysts Forecast Growth

NWFL has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Norwood Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Wall Street Zen lowered shares of Norwood Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Norwood Financial presently has a consensus rating of “Hold” and an average target price of $33.00.

About Norwood Financial

Norwood Financial Corp. operates as the bank holding company for Wayne Bank that provides various banking products and services. The company accepts a range of deposit products, including interest-bearing and non-interest-bearing transaction accounts, and statement savings and money market accounts, as well as certificate of deposits. It also provides commercial loans comprising lines of credit, revolving credit, term loans, mortgages, secured lending products, and letter of credit facilities; municipal finance lending; construction loans for commercial construction projects and single-family residences; land loans; construction financing; consumer loans; mortgage lending to finance principal residences and second home dwellings; and indirect dealer financing of new and used automobiles, boats, and recreational vehicles.