Norwood Financial (NASDAQ:NWFL) Now Covered by Piper Sandler

Piper Sandler started coverage on shares of Norwood Financial (NASDAQ:NWFL) in a research report report published on Wednesday morning, MarketBeat.com reports. The brokerage issued a neutral rating and a $28.00 target price on the financial services provider’s stock.

Separately, Janney Montgomery Scott began coverage on Norwood Financial in a report on Thursday, January 2nd. They set a “buy” rating and a $31.00 target price on the stock.

Norwood Financial Stock Performance

NWFL stock opened at $26.34 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.74. Norwood Financial has a twelve month low of $23.50 and a twelve month high of $34.50. The business’s fifty day moving average is $29.41 and its 200-day moving average is $27.77. The company has a market cap of $213.14 million, a P/E ratio of 16.57 and a beta of 0.62.

Norwood Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Norwood Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.71%. Norwood Financial’s dividend payout ratio (DPR) is 77.99%.

Insider Activity

In other Norwood Financial news, Director Ronald R. Schmalzle acquired 7,692 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average cost of $26.00 per share, for a total transaction of $199,992.00. Following the transaction, the director now owns 15,510 shares of the company’s stock, valued at $403,260. This trade represents a 98.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.10% of the stock is owned by company insiders.

Institutional Trading of Norwood Financial

Several hedge funds have recently bought and sold shares of NWFL. Signature Estate & Investment Advisors LLC acquired a new position in shares of Norwood Financial in the third quarter valued at approximately $200,000. Barclays PLC lifted its position in Norwood Financial by 280.5% in the 3rd quarter. Barclays PLC now owns 9,787 shares of the financial services provider’s stock valued at $270,000 after acquiring an additional 7,215 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Norwood Financial by 250.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,922 shares of the financial services provider’s stock worth $384,000 after purchasing an additional 9,950 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Norwood Financial by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,537 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 600 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Norwood Financial by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,657 shares of the financial services provider’s stock valued at $778,000 after purchasing an additional 2,563 shares during the period. 28.08% of the stock is currently owned by institutional investors and hedge funds.

Norwood Financial Company 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.