NBT Bank N.A. acquired a new position in Norwood Financial Corp. (NASDAQ:NWFL – Free Report) during the third quarter, HoldingsChannel reports. The institutional investor acquired 16,831 shares of the financial services provider’s stock, valued at approximately $556,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Raffles Associates LP purchased a new position in shares of Norwood Financial during the second quarter valued at approximately $352,000. Bank of America Corp DE bought a new stake in shares of Norwood Financial in the 2nd quarter worth approximately $763,000. Legal & General Group Plc bought a new stake in shares of Norwood Financial in the 2nd quarter worth approximately $33,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Norwood Financial in the 2nd quarter worth approximately $5,603,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Norwood Financial in the 2nd quarter worth approximately $1,281,000. Institutional investors own 28.08% of the company’s stock.
Insider Activity at Norwood Financial
In other Norwood Financial news, EVP Vincent O’bell sold 3,000 shares of Norwood Financial stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $34.52, for a total value of $103,560.00. Following the completion of the sale, the executive vice president owned 4,392 shares of the company’s stock, valued at approximately $151,611.84. This trade represents a 40.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Shook purchased 3,100 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was acquired at an average price of $34.55 per share, with a total value of $107,105.00. Following the purchase, the director directly owned 12,586 shares of the company’s stock, valued at approximately $434,846.30. The trade was a 32.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 8.10% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on NWFL. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Norwood Financial in a research report on Thursday. Stephens reissued a “mixed” rating and issued a $35.00 target price (up from $34.00) on shares of Norwood Financial in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.
Get Our Latest Research Report on NWFL
Norwood Financial Trading Up 0.6%
Shares of NASDAQ NWFL opened at $34.77 on Friday. The firm’s 50 day moving average price is $34.07 and its 200-day moving average price is $32.29. Norwood Financial Corp. has a 52-week low of $25.50 and a 52-week high of $35.48. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $378.99 million, a PE ratio of 11.99 and a beta of 0.56.
Norwood Financial (NASDAQ:NWFL – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.01). Norwood Financial had a net margin of 18.68% and a return on equity of 12.88%. The firm had revenue of $29.37 million for the quarter, compared to the consensus estimate of $28.10 million. On average, equities research analysts expect that Norwood Financial Corp. will post 3.48 EPS for the current fiscal year.
Norwood Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $1.28 annualized dividend and a yield of 3.7%. Norwood Financial’s dividend payout ratio is 44.14%.
Norwood Financial Company Profile
Norwood Financial Corp. is the bank holding company for Wayne Bank, a community banking institution headquartered in Honesdale, Pennsylvania. Through Wayne Bank, the company provides banking and financial services to individuals, families, businesses, and nonprofit organizations.
Wayne Bank offers deposit products, including checking, savings, money market, and certificate of deposit accounts, along with consumer, residential mortgage, commercial, and real estate lending. Its services also include online and mobile banking, cash management, debit cards, and other electronic banking solutions.
Founded in 1870, Wayne Bank serves communities in northeastern Pennsylvania and the Catskill and Hudson Valley regions of New York through its branch network and digital channels.
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