Wellington Management Group LLP Reduces Stock Position in Norwood Financial Corp. $NWFL

Wellington Management Group LLP cut its holdings in Norwood Financial Corp. (NASDAQ:NWFL) by 24.4% during the 2nd quarter, Holdings Channel reports. The firm owned 567,505 shares of the financial services provider’s stock after selling 183,286 shares during the period. Wellington Management Group LLP owned approximately 0.05% of Norwood Financial worth $18,245,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 valued at $119,000 after purchasing an additional 765 shares during the period. Geode Capital Management LLC lifted its holdings in Norwood Financial by 3.2% in the 2nd quarter. Geode Capital Management LLC now owns 201,858 shares of the financial services provider’s stock worth $5,205,000 after buying an additional 6,238 shares during the period. Marshall Wace LLP bought a new stake in shares of Norwood Financial in the 2nd quarter worth approximately $648,000. Raymond James Financial Inc. grew its position in shares of Norwood Financial by 20.8% in the 2nd quarter. Raymond James Financial Inc. now owns 89,419 shares of the financial services provider’s stock worth $2,305,000 after buying an additional 15,408 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Norwood Financial by 293.6% during 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. Hedge funds and other institutional investors own 28.08% of the company’s stock.

Insider Buying and Selling at Norwood Financial

In other Norwood Financial news, Director James Shook bought 3,100 shares of Norwood Financial stock in a transaction dated Tuesday, July 28th. The shares were purchased at an average cost of $34.55 per share, with a total value of $107,105.00. Following the transaction, the director directly owned 12,586 shares of the company’s stock, valued at $434,846.30. This represents a 32.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vincent O’bell sold 3,000 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $34.52, for a total transaction of $103,560.00. Following the completion of the transaction, the executive vice president owned 4,392 shares of the company’s stock, valued at approximately $151,611.84. The trade was a 40.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NWFL. Wall Street Zen downgraded Norwood Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Norwood Financial in a report on Friday, July 24th. Finally, Stephens reissued a “mixed” rating and set a $35.00 price objective (up from $34.00) on shares of Norwood Financial in a research report on Thursday, July 23rd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.00.

Norwood Financial Stock Performance

Shares of NWFL opened at $34.71 on Monday. The company has a 50-day simple moving average of $33.10 and a two-hundred day simple moving average of $31.16. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $378.34 million, a PE ratio of 11.97 and a beta of 0.54. Norwood Financial Corp. has a one year low of $23.82 and a one year high of $35.48.

Norwood Financial (NASDAQ:NWFL) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). Norwood Financial had a return on equity of 12.88% and a net margin of 18.68%.The firm had revenue of $29.37 million for the quarter, compared to analysts’ expectations of $28.10 million. On average, analysts anticipate that Norwood Financial Corp. will post 3.47 EPS for the current fiscal year.

Norwood Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Wednesday, July 15th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Wednesday, July 15th. Norwood Financial’s dividend payout ratio is presently 44.14%.

Norwood Financial Profile

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.