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

Piper Sandler initiated coverage on shares of Norwood Financial (NASDAQ:NWFL) in a research note issued to investors on Wednesday, MarketBeat 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 research note on Thursday, January 2nd. They set a “buy” rating and a $31.00 price objective on the stock.

Norwood Financial Price Performance

NWFL stock opened at $25.42 on Wednesday. The stock’s 50 day moving average price is $29.30 and its 200 day moving average price is $27.75. The firm has a market cap of $205.70 million, a P/E ratio of 15.99 and a beta of 0.62. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.91. Norwood Financial has a 1 year low of $23.50 and a 1 year high of $34.50.

Norwood Financial Increases Dividend

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

Insiders Place Their Bets

In related news, Director Ronald R. Schmalzle acquired 7,692 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were acquired at an average cost of $26.00 per share, for a total transaction of $199,992.00. Following the acquisition, the director now directly owns 15,510 shares in the company, valued at approximately $403,260. The trade was a 98.39 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Norwood Financial

Large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 buying an additional 600 shares during the last quarter. State Street Corp grew its position in Norwood Financial by 2.5% during the third 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 during the period. Bank of New York Mellon Corp increased its stake in Norwood Financial by 9.1% during the second quarter. Bank of New York Mellon Corp now owns 30,657 shares of the financial services provider’s stock worth $778,000 after acquiring an additional 2,563 shares during the last quarter. Barclays PLC raised its holdings in shares of Norwood Financial by 280.5% in the 3rd quarter. Barclays PLC now owns 9,787 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 7,215 shares during the period. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of Norwood Financial in the 3rd quarter valued at about $200,000. Hedge funds and other institutional investors own 28.08% of the company’s stock.

About Norwood Financial

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.