174,278 Shares in Norwood Financial Corp. $NWFL Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in shares of Norwood Financial Corp. (NASDAQ:NWFL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 174,278 shares of the financial services provider's stock, valued at approximately $5,603,000. The Manufacturers Life Insurance Company owned about 1.60% of Norwood Financial as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Norwood Financial by 75.3% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 880 shares of the financial services provider's stock worth $25,000 after purchasing an additional 378 shares during the period. Osaic Holdings Inc. increased its holdings in Norwood Financial by 130.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,061 shares of the financial services provider's stock worth $27,000 after buying an additional 601 shares during the period. Tower Research Capital LLC TRC raised its position in Norwood Financial by 293.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,771 shares of the financial services provider's stock worth $46,000 after buying an additional 1,321 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Norwood Financial by 144.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,100 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 1,241 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Norwood Financial by 68.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,138 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 872 shares during the period. 28.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director James Shook purchased 3,100 shares of the company's stock in a transaction dated Tuesday, July 28th. The stock was acquired at an average price of $34.55 per share, with a total value of $107,105.00. Following the purchase, the director directly owned 12,586 shares in the company, valued at approximately $434,846.30. This represents a 32.68% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 8.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on NWFL. Wall Street Zen lowered shares of Norwood Financial from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings restated a "buy (b)" rating on shares of Norwood Financial in a research report on Friday, July 24th. Finally, Stephens reissued a "mixed" rating and issued a $35.00 price objective (up from $34.00) on shares of Norwood Financial in a report on Thursday, July 23rd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Norwood Financial has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

Norwood Financial Price Performance

NASDAQ:NWFL opened at $34.16 on Tuesday. Norwood Financial Corp. has a one year low of $23.82 and a one year high of $35.45. The stock has a market cap of $372.34 million, a PE ratio of 11.78 and a beta of 0.54. The stock has a 50 day moving average price of $32.85 and a 200 day moving average price of $31.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91.

Norwood Financial (NASDAQ:NWFL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.86 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.01). Norwood Financial had a return on equity of 12.88% and a net margin of 18.68%.The company had revenue of $29.37 million for the quarter, compared to analysts' expectations of $28.10 million. Equities research analysts expect that Norwood Financial Corp. will post 3.47 EPS for the current fiscal year.

Norwood Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $1.28 dividend on an annualized basis and a yield of 3.7%. Norwood Financial's payout ratio is 44.14%.

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. It also provides commercial loans comprising lines of credit, revolving credit, term loans, mortgages, secured lending products, and letter of credit facilities; municipal finance lending; construction loans for commercial construction projects and single-family residences; land loans; construction financing; consumer loans; mortgage lending to finance principal residences and second home dwellings; and indirect dealer financing of new and used automobiles, boats, and recreational vehicles.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source