Bulldog Investors LLP boosted its holdings in Norwood Financial Corp. (NASDAQ:NWFL – Free Report) by 165.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 170,000 shares of the financial services provider’s stock after buying an additional 105,855 shares during the period. Norwood Financial makes up 1.1% of Bulldog Investors LLP’s investment portfolio, making the stock its 25th largest position. Bulldog Investors LLP’s holdings in Norwood Financial were worth $5,001,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of Norwood Financial by 40.1% in the 4th quarter. Wellington Management Group LLP now owns 888,812 shares of the financial services provider’s stock worth $24,931,000 after purchasing an additional 254,259 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Norwood Financial during the fourth quarter valued at $1,567,000. Marshall Wace LLP purchased a new stake in shares of Norwood Financial during the second quarter valued at $648,000. Citadel Advisors LLC purchased a new stake in shares of Norwood Financial during the third quarter valued at $605,000. Finally, Dimensional Fund Advisors LP increased its holdings in Norwood Financial by 15.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 155,908 shares of the financial services provider’s stock worth $4,587,000 after buying an additional 21,248 shares in the last quarter. 28.08% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have weighed in on NWFL. Weiss Ratings raised Norwood Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded shares of Norwood Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $33.00.
Insider Activity
In other news, CFO John Martin Mccaffery, Jr. bought 1,000 shares of Norwood Financial stock in a transaction that occurred on Thursday, April 30th. The stock was bought at an average cost of $29.44 per share, with a total value of $29,440.00. Following the acquisition, the chief financial officer 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 filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders purchased 3,297 shares of company stock worth $97,483. Insiders own 8.10% of the company’s stock.
Norwood Financial Price Performance
Shares of Norwood Financial stock opened at $31.24 on Tuesday. The stock has a market cap of $340.20 million, a P/E ratio of 11.53 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’s fifty day moving average is $30.91 and its 200 day moving average is $30.10. Norwood Financial Corp. has a one year low of $23.70 and a one year high of $32.86.
Norwood Financial (NASDAQ:NWFL – Get Free Report) last released its quarterly earnings results on Monday, April 27th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.09). The company had revenue of $3.12 million for the quarter, compared to the consensus estimate of $27.50 million. Norwood Financial had a net margin of 17.75% and a return on equity of 12.43%. Sell-side analysts anticipate that Norwood Financial Corp. will post 3.45 earnings per share for the current year.
Norwood Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Wednesday, July 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.1%. Norwood Financial’s payout ratio is 47.23%.
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.
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