Finward Bancorp (NASDAQ:FNWD) Sees Significant Increase in Short Interest

Key Points

• Finward Bancorp experienced a significant increase in short interest, rising by 35.5% in August to a total of 175,400 shares, equating to approximately 4.7% of the total shares sold short.
• Several institutional investors are increasing their holdings, with notable stakes purchased by Bank of America and others, resulting in institutional ownership of 26.59%.
• The company announced a quarterly dividend of $0.12 per share, which represents an annualized yield of 1.5% with a payout ratio of 38.71%.

Finward Bancorp (NASDAQ:FNWD - Get Free Report) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 175,400 shares, a growth of 35.5% from the August 15th total of 129,400 shares. Approximately 4.7% of the shares of the stock are short sold. Based on an average trading volume of 42,700 shares, the days-to-cover ratio is presently 4.1 days. Based on an average trading volume of 42,700 shares, the days-to-cover ratio is presently 4.1 days. Approximately 4.7% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new stake in Finward Bancorp during the 2nd quarter worth about $45,000. Bank of America Corp DE increased its position in shares of Finward Bancorp by 5,428.1% in the second 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Finward Bancorp during the second quarter worth about $52,000. New York State Common Retirement Fund acquired a new position in Finward Bancorp during the second quarter valued at approximately $102,000. Finally, Los Angeles Capital Management LLC bought a new position in Finward Bancorp in the second quarter valued at approximately $213,000. 26.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Finward Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Finward Bancorp has an average rating of "Moderate Buy" and an average price target of $34.00.

Finward Bancorp Stock Performance

FNWD stock opened at $31.76 on Wednesday. Finward Bancorp has a 1-year low of $26.12 and a 1-year high of $33.50. 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 firm has a market cap of $137.20 million, a PE ratio of 25.61 and a beta of 0.30. The business's 50-day moving average price is $29.40 and its two-hundred day moving average price is $29.30.

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

Finward Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, August 29th. Finward Bancorp's dividend payout ratio is 38.71%.

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.

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