Bank of New York Mellon Corp Invests $1.29 Million in Norwood Financial Corp. $NWFL

Key Points

• Bank of New York Mellon acquired a new $1.29 million stake in Norwood Financial, purchasing 40,076 shares and owning approximately 0.37% of the company. Institutional investors and hedge funds collectively own 28.08% of NWFL.
• Norwood Financial reported quarterly EPS of $0.86, slightly below the $0.87 consensus estimate, while revenue of $29.37 million exceeded expectations. The company maintains a quarterly dividend of $0.32 per share, representing a 3.7% yield.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and a $35 average price target. The stock recently traded at $34.42, near its 12-month high of $35.48.

Bank of New York Mellon Corp acquired a new stake in Norwood Financial Corp. (NASDAQ:NWFL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 40,076 shares of the financial services provider's stock, valued at approximately $1,288,000. Bank of New York Mellon Corp owned about 0.37% of Norwood Financial at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co boosted its position in Norwood Financial by 75.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 880 shares of the financial services provider's stock worth $25,000 after buying an additional 378 shares during the period. Royal Bank of Canada boosted its position in shares of Norwood Financial by 8.1% during the 4th quarter. Royal Bank of Canada now owns 6,120 shares of the financial services provider's stock valued at $172,000 after purchasing an additional 459 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Norwood Financial by 130.7% during 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 in the last quarter. Geode Capital Management LLC boosted its stake in Norwood Financial by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 201,621 shares of the financial services provider's stock worth $5,657,000 after acquiring an additional 650 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Norwood Financial by 18.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,909 shares of the financial services provider's stock worth $119,000 after purchasing an additional 765 shares in the last quarter. 28.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Norwood Financial

In related news, EVP Vincent O'bell sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $34.52, for a total value of $103,560.00. Following the transaction, the executive vice president directly owned 4,392 shares in the company, valued at approximately $151,611.84. This represents a 40.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Shook bought 3,100 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were bought at an average price of $34.55 per share, with a total value of $107,105.00. Following the completion of the transaction, the director owned 12,586 shares of the company's stock, valued at $434,846.30. The trade was a 32.68% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 8.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Norwood Financial Stock Up 0.1%

NWFL stock opened at $34.42 on Thursday. The stock has a 50-day simple moving average of $33.23 and a two-hundred day simple moving average of $31.23. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $375.18 million, a PE ratio of 11.87 and a beta of 0.54. Norwood Financial Corp. has a twelve month low of $23.82 and a twelve month high of $35.48.

Norwood Financial (NASDAQ:NWFL - Get Free Report) last announced 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 net margin of 18.68% and a return on equity of 12.88%. The firm had revenue of $29.37 million during the quarter, compared to the consensus estimate of $28.10 million. On average, equities analysts predict that Norwood Financial Corp. will post 3.47 EPS for the current fiscal year.

Norwood Financial Announces Dividend

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

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. 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.

Want to see what other hedge funds are holding NWFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norwood Financial Corp. (NASDAQ:NWFL - Free Report).

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.