Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Norwood Financial Corp. (NASDAQ:NWFL - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 39,849 shares of the financial services provider's stock, valued at approximately $1,281,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.37% of Norwood Financial as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Norwood Financial by 40.1% in the 4th quarter. Wellington Management Group LLP now owns 888,812 shares of the financial services provider's stock valued at $24,931,000 after purchasing an additional 254,259 shares during the period. BlackRock Inc. purchased a new stake in Norwood Financial in the second quarter valued at approximately $24,960,000. Geode Capital Management LLC boosted its holdings in shares of Norwood Financial by 3.2% in the second quarter. Geode Capital Management LLC now owns 201,858 shares of the financial services provider's stock valued at $5,205,000 after acquiring an additional 6,238 shares during the period. Bulldog Investors LLP grew its position in shares of Norwood Financial by 165.0% during the first quarter. Bulldog Investors LLP now owns 170,000 shares of the financial services provider's stock worth $5,001,000 after acquiring an additional 105,855 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Norwood Financial by 15.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 155,908 shares of the financial services provider's stock valued at $4,587,000 after acquiring an additional 21,248 shares during the period. Institutional investors and hedge funds own 28.08% of the company's stock.
Norwood Financial Stock Performance
NASDAQ NWFL opened at $34.15 on Monday. 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 stock has a market capitalization of $372.24 million, a P/E ratio of 11.78 and a beta of 0.54. Norwood Financial Corp. has a 52-week low of $23.82 and a 52-week high of $35.45. The firm has a 50-day moving average price of $32.79 and a 200 day moving average price of $31.06.
Norwood Financial (NASDAQ:NWFL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.86 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.01). The business had revenue of $29.37 million during the quarter, compared to analysts' expectations of $28.10 million. Norwood Financial had a net margin of 18.68% and a return on equity of 12.88%. Equities research analysts expect that Norwood Financial Corp. will post 3.47 EPS for the current year.
Norwood Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Wednesday, July 15th were paid a $0.32 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.7%. Norwood Financial's payout ratio is 44.14%.
Analysts Set New Price Targets
Several research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Norwood Financial from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Stephens reaffirmed a "mixed" rating and issued a $35.00 target price (up from $34.00) on shares of Norwood Financial in a report on Thursday, July 23rd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Norwood Financial in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.
Get Our Latest Analysis on Norwood Financial
Insiders Place Their Bets
In other Norwood Financial news, Director James Shook acquired 3,100 shares of the business's stock in a transaction on Tuesday, July 28th. The stock was purchased at an average price of $34.55 per share, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.10% of the stock is owned by corporate insiders.
Norwood Financial Company Profile
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Free Report)
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.
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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).
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