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

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

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

Norwood Financial Stock Up 1.3 %

Shares of NASDAQ NWFL opened at $26.34 on Wednesday. The business has a fifty day moving average of $29.41 and a two-hundred day moving average of $27.77. 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 52-week low of $23.50 and a 52-week high of $34.50. The stock has a market cap of $213.14 million, a PE ratio of 16.57 and a beta of 0.62.

Norwood Financial Increases Dividend

The firm 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 $0.31 dividend. This is an increase from Norwood Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.24 annualized dividend and a yield of 4.71%. Norwood Financial’s payout ratio is presently 77.99%.

Insider Transactions at Norwood Financial

In related news, Director Ronald R. Schmalzle bought 7,692 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was bought at an average cost of $26.00 per share, with a total value of $199,992.00. Following the completion of the purchase, the director now 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 through the SEC website. Company insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake 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 valued at $566,000 after buying an additional 600 shares during the period. State Street Corp boosted its holdings in 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 acquiring an additional 2,402 shares during the last quarter. Bank of New York Mellon Corp increased its position in Norwood Financial by 9.1% in 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 purchasing an additional 2,563 shares during the period. Barclays PLC raised its holdings in 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 purchasing an additional 7,215 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new stake in Norwood Financial during the 3rd quarter worth about $200,000. Institutional investors own 28.08% of the company’s stock.

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.