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

Norwood Financial (NASDAQ:NWFL) posted its quarterly earnings data on Thursday. The financial services provider reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85, FiscalAI reports. Norwood Financial had a return on equity of 10.68% and a net margin of 6.82%.The business had revenue of $23.46 million for the quarter, compared to the consensus estimate of $23.50 million.

Norwood Financial Stock Performance

Shares of NWFL opened at $29.01 on Thursday. Norwood Financial has a 12-month low of $21.25 and a 12-month high of $30.59. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.31. The company has a market cap of $268.63 million, a PE ratio of 44.63 and a beta of 0.61. The stock has a 50-day moving average price of $28.46 and a 200-day moving average price of $26.62.

Norwood Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Thursday, January 15th. This is an increase from Norwood Financial’s previous quarterly dividend of $0.31. Norwood Financial’s payout ratio is 196.92%.

Wall Street Analyst Weigh In

NWFL has been the topic of a number of recent research reports. Zacks Research cut Norwood Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 22nd. Wall Street Zen upgraded shares of Norwood Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Norwood Financial in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.50.

Insiders Place Their Bets

In related news, Director James Shook bought 3,800 shares of the company’s stock in a transaction on Monday, October 27th. The stock was acquired at an average cost of $26.71 per share, for a total transaction of $101,498.00. Following the completion of the transaction, the director directly owned 4,830 shares in the company, valued at $129,009.30. This trade represents a 368.93% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Norwood Financial

Several hedge funds have recently made changes to their positions in NWFL. Osaic Holdings Inc. raised its holdings 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 in the last quarter. Tower Research Capital LLC TRC boosted its position 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 purchasing an additional 1,321 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Norwood Financial by 144.5% in the third quarter. BNP Paribas Financial Markets now owns 2,100 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 1,241 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Norwood Financial by 68.9% during the third quarter. Russell Investments Group Ltd. now owns 2,138 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 872 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Norwood Financial by 18.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,909 shares of the financial services provider’s stock valued at $119,000 after buying an additional 765 shares during the last quarter. 28.08% of the stock is owned by hedge funds and other institutional investors.

Norwood Financial Company Profile

Norwood Financial Corporation is the bank holding company for Norwood Bank, a community-oriented financial institution headquartered in Norwood, Massachusetts. Incorporated in 2010, the company oversees a network of branch offices serving suburban and metropolitan communities in eastern Massachusetts. Norwood Financial’s mission emphasizes personalized service, local decision-making and a commitment to supporting neighborhood growth.

The company’s primary business activities encompass a full suite of personal and commercial banking products and services.