Alliancebernstein L.P. Purchases New Position in Norwood Financial Corp. (NASDAQ:NWFL)

Alliancebernstein L.P. bought a new stake in shares of Norwood Financial Corp. (NASDAQ:NWFL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 76,910 shares of the financial services provider's stock, valued at approximately $2,092,000. Alliancebernstein L.P. owned 0.95% of Norwood Financial as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP bought a new position in shares of Norwood Financial during the 4th quarter worth $16,814,000. State Street Corp boosted 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 worth $2,755,000 after purchasing an additional 2,402 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Norwood Financial in the fourth quarter worth about $1,394,000. JPMorgan Chase & Co. raised its position in shares of Norwood Financial by 89.0% in the fourth quarter. JPMorgan Chase & Co. now owns 26,314 shares of the financial services provider's stock valued at $716,000 after purchasing an additional 12,392 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake 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 valued at $566,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 28.08% of the company's stock.

Insider Activity

In other news, Director Ronald R. Schmalzle bought 2,563 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $26.43 per share, with a total value of $67,740.09. Following the completion of the purchase, the director now directly owns 15,168 shares in the company, valued at $400,890.24. This represents a 20.33 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 9.10% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Piper Sandler initiated coverage on shares of Norwood Financial in a report on Wednesday, January 8th. They set a "neutral" rating and a $28.00 target price on the stock. Janney Montgomery Scott initiated coverage on Norwood Financial in a report on Thursday, January 2nd. They set a "buy" rating and a $31.00 price objective on the stock. StockNews.com raised Norwood Financial from a "sell" rating to a "hold" rating in a report on Friday. Finally, Stephens reissued an "equal weight" rating and issued a $25.50 price target on shares of Norwood Financial in a report on Monday.

Norwood Financial Price Performance

Shares of NWFL traded up $1.12 during trading hours on Tuesday, reaching $24.94. 36,333 shares of the company's stock traded hands, compared to its average volume of 13,654. Norwood Financial Corp. has a 12 month low of $21.25 and a 12 month 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 stock has a market cap of $231.02 million, a PE ratio of 2,494.00 and a beta of 0.54. The firm's 50 day simple moving average is $24.33 and its 200-day simple moving average is $26.87.

Norwood Financial (NASDAQ:NWFL - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.04. Norwood Financial had a negative net margin of 0.16% and a positive return on equity of 8.38%. The firm had revenue of $20.20 million for the quarter, compared to analyst estimates of $20.60 million. Equities analysts expect that Norwood Financial Corp. will post 2.51 EPS for the current year.

Norwood Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Tuesday, April 15th. Norwood Financial's payout ratio is currently 1,377.78%.

Norwood Financial 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.