Janney Montgomery Scott Begins Coverage on Norwood Financial (NASDAQ:NWFL)

Analysts at Janney Montgomery Scott initiated coverage on shares of Norwood Financial (NASDAQ:NWFL) in a note issued to investors on Thursday,Benzinga reports. The firm set a “buy” rating and a $31.00 price target on the financial services provider’s stock. Janney Montgomery Scott’s price objective suggests a potential upside of 13.97% from the company’s current price.

Norwood Financial Stock Performance

NWFL stock opened at $27.20 on Thursday. Norwood Financial has a 1-year low of $23.50 and a 1-year high of $34.50. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74. The firm has a market cap of $220.10 million, a PE ratio of 17.11 and a beta of 0.61. The business’s 50-day moving average price is $29.53 and its two-hundred day moving average price is $27.71.

Insider Buying and Selling

In other news, Director Ronald R. Schmalzle bought 7,692 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were purchased at an average price of $26.00 per share, for a total transaction of $199,992.00. Following the purchase, the director now owns 15,510 shares of the company’s stock, valued at approximately $403,260. The trade was a 98.39 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.10% of the company’s stock.

Institutional Trading of Norwood Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Norwood Financial by 250.5% in the third quarter. JPMorgan Chase & Co. now owns 13,922 shares of the financial services provider’s stock valued at $384,000 after purchasing an additional 9,950 shares in the last quarter. Barclays PLC boosted its stake in shares of Norwood Financial by 280.5% during the 3rd quarter. Barclays PLC now owns 9,787 shares of the financial services provider’s stock worth $270,000 after buying an additional 7,215 shares during the last quarter. State Street Corp grew its holdings in shares of Norwood Financial by 2.5% in the 3rd quarter. State Street Corp now owns 99,889 shares of the financial services provider’s stock valued at $2,755,000 after acquiring an additional 2,402 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Norwood Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,537 shares of the financial services provider’s stock valued at $566,000 after acquiring an additional 600 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of Norwood Financial in the third quarter valued at about $200,000. 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.