Finward Bancorp (NASDAQ:FNWD – Get Free Report) saw a significant increase in short interest in August. As of August 14th, there was short interest totaling 111,278 shares, an increase of 75.8% from the July 30th total of 63,281 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average trading volume of 17,556 shares, the short-interest ratio is presently 6.3 days.
Institutional Investors Weigh In On Finward Bancorp
A number of institutional investors and hedge funds have recently modified their holdings of FNWD. Raffles Associates LP acquired a new position in Finward Bancorp in the 2nd quarter worth approximately $978,000. Dimensional Fund Advisors LP lifted its stake in Finward Bancorp by 6.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 22,869 shares of the company’s stock valued at $805,000 after acquiring an additional 1,411 shares during the period. Trexquant Investment LP acquired a new stake in Finward Bancorp during the 4th quarter valued at approximately $360,000. Marshall Wace LLP purchased a new stake in shares of Finward Bancorp in the 4th quarter valued at $280,000. Finally, Barclays PLC boosted its holdings in shares of Finward Bancorp by 11.1% in the 4th quarter. Barclays PLC now owns 5,403 shares of the company’s stock valued at $190,000 after acquiring an additional 541 shares during the last quarter. Institutional investors and hedge funds own 26.59% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on FNWD shares. Weiss Ratings raised Finward Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 19th. Zacks Research upgraded Finward Bancorp to a “hold” rating in a research note on Monday, July 13th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.
Finward Bancorp Stock Performance
Shares of NASDAQ FNWD traded down $0.24 during midday trading on Tuesday, reaching $42.79. The company had a trading volume of 1,380 shares, compared to its average volume of 15,102. The business’s 50-day simple moving average is $40.77 and its 200 day simple moving average is $36.84. The stock has a market cap of $185.28 million, a P/E ratio of 18.85 and a beta of 0.16. Finward Bancorp has a 1 year low of $30.05 and a 1 year high of $45.90. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36.
Finward Bancorp (NASDAQ:FNWD – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.14). The company had revenue of $17.58 million for the quarter, compared to analysts’ expectations of $18.90 million. Finward Bancorp had a net margin of 9.65% and a return on equity of 5.68%. On average, analysts forecast that Finward Bancorp will post 2.63 earnings per share for the current fiscal year.
Finward Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Wednesday, June 17th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.1%. Finward Bancorp’s dividend payout ratio is currently 21.15%.
About Finward Bancorp
Finward Bancorp (NASDAQ: FNWD) is the bank holding company for Finward Bank, a community-focused financial institution serving businesses and individuals across Pennsylvania and Delaware. Through a network of full-service branches and a robust digital banking platform, Finward Bank delivers a range of personal and commercial banking solutions designed to meet the needs of local customers.
The company’s core offerings include deposit products such as checking accounts, savings accounts and time deposits, as well as a variety of lending solutions.
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