Finward Bancorp (NASDAQ:FNWD) Stock Price Down 1.7% - What's Next?

Key Points

• Finward Bancorp's stock price has decreased by 1.7%, trading at $31.87, with a significant drop in trading volume to only 10,372 shares, compared to an average of 36,392 shares.
• Wall Street analysts have upgraded Finward Bancorp from a "sell" to a "hold" rating, and the stock currently holds a consensus rating of "Moderate Buy" with a target price of $34.00.
• The company recently announced a quarterly dividend of $0.12 per share, resulting in an annualized yield of 1.5%, with a payout ratio of 38.71%.

Finward Bancorp (NASDAQ:FNWD - Get Free Report)'s stock price fell 1.7% during trading on Tuesday . The company traded as low as $31.83 and last traded at $31.87. 10,372 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 36,392 shares. The stock had previously closed at $32.41.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of 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 given a Hold rating to the company. According to MarketBeat, Finward Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

Finward Bancorp Stock Down 1.7%

The company has a debt-to-equity ratio of 0.42, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $137.84 million, a P/E ratio of 25.70 and a beta of 0.30. The company's 50-day simple moving average is $29.04 and its two-hundred day simple moving average is $29.11.

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, topping the consensus estimate of $0.24 by $0.26. Finward Bancorp had a net margin of 5.23% and a return on equity of 3.45%. The company had revenue of $16.63 million during the quarter, compared to the consensus estimate of $16.85 million. As a group, research analysts expect that Finward Bancorp will post 0.9 earnings per share for the current year.

Finward Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a dividend of $0.12 per share. The ex-dividend date is 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 is currently 38.71%.

Hedge Funds Weigh In On Finward Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of FNWD. Geode Capital Management LLC boosted its position in shares of Finward Bancorp by 99.7% during the second quarter. Geode Capital Management LLC now owns 81,669 shares of the company's stock worth $2,256,000 after acquiring an additional 40,778 shares during the last quarter. PL Capital Advisors LLC boosted its position in shares of Finward Bancorp by 11.2% during the first quarter. PL Capital Advisors LLC now owns 395,716 shares of the company's stock worth $11,515,000 after acquiring an additional 40,000 shares during the last quarter. OLD National Bancorp IN bought a new position in shares of Finward Bancorp during the second quarter worth $442,000. Los Angeles Capital Management LLC bought a new position in shares of Finward Bancorp during the second quarter worth $213,000. Finally, Northern Trust Corp boosted its position in shares of Finward Bancorp by 37.5% during the fourth quarter. Northern Trust Corp now owns 15,021 shares of the company's stock worth $422,000 after acquiring an additional 4,098 shares during the last quarter. Institutional investors own 26.59% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.