Finward Bancorp Announces Quarterly Dividend of $0.12 (NASDAQ:FNWD)

Key Points

• Finward Bancorp declared a quarterly dividend of $0.12 per share, payable on September 12th to investors recorded by August 29th, reflecting a 1.6% yield.
• The company reported $0.50 earnings per share (EPS) for the last quarter, surpassing the consensus estimate by $0.26, with revenues totaling $16.63 million.
• Institutional investors own 26.59% of Finward Bancorp's stock, with notable increases in holdings by Bank of America and other major firms during the second quarter.

Finward Bancorp (NASDAQ:FNWD - Get Free Report) announced a quarterly dividend on Friday, August 15th, RTT News reports. Investors of record on Friday, August 29th will be given a dividend of 0.12 per share on Friday, September 12th. This represents a c) annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 29th.

Finward Bancorp has a payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings.

Finward Bancorp Price Performance

Finward Bancorp stock traded up $0.08 during midday trading on Wednesday, reaching $29.28. The company's stock had a trading volume of 48,409 shares, compared to its average volume of 87,674. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.42. The stock has a market cap of $126.49 million, a PE ratio of 23.61 and a beta of 0.27. Finward Bancorp has a 52 week low of $26.12 and a 52 week high of $33.50. The business has a 50-day moving average price of $28.10 and a 200-day moving average price of $28.61.

Finward Bancorp (NASDAQ:FNWD - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.26. The company had revenue of $16.63 million for the quarter, compared to the consensus estimate of $16.85 million. Finward Bancorp had a net margin of 5.23% and a return on equity of 3.45%. On average, sell-side analysts predict that Finward Bancorp will post 0.9 EPS for the current year.

Hedge Funds Weigh In On Finward Bancorp

A number of hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in Finward Bancorp in the second quarter valued at approximately $45,000. Bank of America Corp DE lifted its position in shares of Finward Bancorp by 5,428.1% during the 2nd quarter. Bank of America Corp DE now owns 1,769 shares of the company's stock valued at $49,000 after acquiring an additional 1,737 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Finward Bancorp during the 2nd quarter valued at $52,000. New York State Common Retirement Fund bought a new position in Finward Bancorp during the second quarter worth $102,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Finward Bancorp in the second quarter worth $213,000. Institutional investors own 26.59% of the company's stock.

About Finward Bancorp

Finward Bancorp operates as the holding company for Peoples Bank that provides various banking products and services. The company's deposit products include non-interest- and interest-bearing demand accounts, savings accounts, money market deposit accounts, certificate accounts, and retirement savings plans.