Norwood Financial (NASDAQ:NWFL) Earns Neutral Rating from Analysts at Piper Sandler

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

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

Norwood Financial Price Performance

Shares of NWFL opened at $25.42 on Wednesday. The company has a market cap of $205.70 million, a P/E ratio of 15.99 and a beta of 0.62. Norwood Financial has a fifty-two week low of $23.50 and a fifty-two week high of $34.50. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.74. The firm’s 50 day moving average price is $29.30 and its 200 day moving average price is $27.75.

Norwood Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.24 dividend on an annualized basis and a yield of 4.88%. This is an increase from Norwood Financial’s previous quarterly dividend of $0.30. Norwood Financial’s dividend payout ratio is presently 77.99%.

Insider Activity

In other Norwood Financial news, Director Ronald R. Schmalzle purchased 7,692 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average cost of $26.00 per share, for a total transaction of $199,992.00. Following the completion of the purchase, the director now directly owns 15,510 shares in the company, valued at $403,260. This represents a 98.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Norwood Financial

Institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of Norwood Financial by 2.5% in the third quarter. State Street Corp now owns 99,889 shares of the financial services provider’s stock valued at $2,755,000 after purchasing an additional 2,402 shares during the period. Cetera Investment Advisers lifted its position in shares of Norwood Financial by 258.7% during the 2nd quarter. Cetera Investment Advisers now owns 84,919 shares of the financial services provider’s stock valued at $2,155,000 after acquiring an additional 61,247 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Norwood Financial by 9.1% during 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 acquiring an additional 2,563 shares during the period. Code Waechter LLC purchased a new stake in shares of Norwood Financial during the 3rd quarter worth approximately $815,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Norwood Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,537 shares of the financial services provider’s stock worth $566,000 after acquiring an additional 600 shares during the period. 28.08% of the stock is currently owned by hedge funds and other institutional investors.

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.