Finward Bancorp (NASDAQ:FNWD) Short Interest Update

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 significant increase in short interest in August. As of August 31st, there was short interest totaling 175,400 shares, an increase of 35.5% from the August 15th total of 129,400 shares. Approximately 4.7% of the shares of the company are sold short. Based on an average daily trading volume, of 42,700 shares, the days-to-cover ratio is currently 4.1 days. Based on an average daily trading volume, of 42,700 shares, the days-to-cover ratio is currently 4.1 days. Approximately 4.7% of the shares of the company are sold short.

Wall Street Analyst Weigh In

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

Finward Bancorp Stock Down 1.2%

NASDAQ FNWD traded down $0.40 on Friday, reaching $32.00. 53,240 shares of the stock traded hands, compared to its average volume of 17,160. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.86 and a current ratio of 0.86. The company has a fifty day moving average price of $29.64 and a 200-day moving average price of $29.38. The company has a market cap of $138.24 million, a price-to-earnings ratio of 25.81 and a beta of 0.30. Finward Bancorp has a 12 month low of $26.12 and a 12 month high of $33.50.

Finward Bancorp (NASDAQ:FNWD - Get Free Report) last issued its 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. Finward Bancorp had a return on equity of 3.45% and a net margin of 5.23%.The business had revenue of $16.63 million during the quarter, compared to analyst estimates of $16.85 million. As a group, research analysts forecast that Finward Bancorp will post 0.9 EPS for the current fiscal year.

Finward Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were issued a $0.12 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.5%. Finward Bancorp's dividend payout ratio (DPR) is currently 38.71%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FNWD. Geode Capital Management LLC grew its stake in Finward Bancorp by 99.7% during the 2nd quarter. Geode Capital Management LLC now owns 81,669 shares of the company's stock worth $2,256,000 after buying an additional 40,778 shares during the last quarter. PL Capital Advisors LLC grew its stake in Finward Bancorp by 11.2% during the 1st quarter. PL Capital Advisors LLC now owns 395,716 shares of the company's stock worth $11,515,000 after buying an additional 40,000 shares during the last quarter. OLD National Bancorp IN purchased a new position in Finward Bancorp during the 2nd quarter worth $442,000. Los Angeles Capital Management LLC purchased a new position in Finward Bancorp during the 2nd quarter worth $213,000. Finally, Northern Trust Corp grew its stake in Finward Bancorp by 37.5% during the 4th quarter. Northern Trust Corp now owns 15,021 shares of the company's stock worth $422,000 after buying an additional 4,098 shares during the last quarter. 26.59% of the stock is currently owned by hedge funds and other institutional investors.

Finward Bancorp Company Profile

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.