Finward Bancorp (NASDAQ:FNWD) Issues Earnings Results

Key Points

• Finward reported EPS of $0.52 versus a $0.54 consensus and revenue of $17.49M versus $18.45M, a clear missed estimates, with a 5.01% return on equity and an 8.0% net margin.
• The company declared and paid a quarterly dividend of $0.12 on March 31 (record date March 16), annualized to $0.48 for a 1.5% yield and a 25.53% payout ratio.
• Shares fell $0.50 to $33.03, trading below their ~ $36 50- and 200-day moving averages and valuing the company at $143M; Stephens initiated coverage with an overweight $41 target and the consensus rating is "Moderate Buy."

Finward Bancorp (NASDAQ:FNWD - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.02), FiscalAI reports. The company had revenue of $17.49 million during the quarter, compared to analysts' expectations of $18.45 million. Finward Bancorp had a return on equity of 5.01% and a net margin of 8.00%.

Finward Bancorp Price Performance

Finward Bancorp stock traded down $0.50 during midday trading on Tuesday, reaching $33.03. 6,769 shares of the stock traded hands, compared to its average volume of 10,447. The stock's fifty day moving average is $35.96 and its 200-day moving average is $35.95. Finward Bancorp has a 12 month low of $26.46 and a 12 month high of $39.99. The stock has a market cap of $143.02 million, a P/E ratio of 17.57 and a beta of 0.32. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.26.

Finward Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.48 dividend on an annualized basis and a yield of 1.5%. Finward Bancorp's dividend payout ratio is presently 25.53%.

Institutional Trading of Finward Bancorp

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC raised its position in shares of Finward Bancorp by 0.7% during the 4th quarter. Renaissance Technologies LLC now owns 49,434 shares of the company's stock valued at $1,740,000 after buying an additional 358 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Finward Bancorp by 40.4% during the 4th quarter. AQR Capital Management LLC now owns 15,353 shares of the company's stock valued at $540,000 after buying an additional 4,420 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Finward Bancorp during the 4th quarter valued at about $360,000. Marshall Wace LLP purchased a new stake in shares of Finward Bancorp during the 4th quarter valued at about $280,000. Finally, Barclays PLC raised its position in shares of Finward Bancorp by 11.1% during the 4th quarter. Barclays PLC now owns 5,403 shares of the company's stock valued at $190,000 after buying an additional 541 shares in the last quarter. 26.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Stephens assumed coverage on Finward Bancorp in a report on Friday, March 27th. They issued an "overweight" rating and a $41.00 target price on the stock. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $41.00.

About Finward Bancorp

Finward Bancorp NASDAQ: FNWD is the bank holding company for Finward Bank, a community-focused financial institution serving businesses and individuals across Pennsylvania and Delaware. Through a network of full-service branches and a robust digital banking platform, Finward Bank delivers a range of personal and commercial banking solutions designed to meet the needs of local customers.

The company's core offerings include deposit products such as checking accounts, savings accounts and time deposits, as well as a variety of lending solutions.

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