Norwood Financial Corp. Announces Quarterly Dividend of $0.31 (NASDAQ:NWFL)

Key Points

• Norwood Financial Corp. declared a quarterly dividend of $0.31 per share, with shareholders of record on October 15th to receive the payout on November 3rd, representing a 4.7% yield.
• The company's dividend payout ratio is 43.5%, suggesting the dividend is well-supported by earnings, with expected earnings of $2.74 per share for the coming year.
• Norwood Financial's stock saw a 1.4% decline during midday trading, hitting a price of $26.28, below its 52-week high of $34.50.

Norwood Financial Corp. (NASDAQ:NWFL - Get Free Report) declared a quarterly dividend on Wednesday, September 17th, RTT News reports. Stockholders of record on Wednesday, October 15th will be given a dividend of 0.31 per share by the financial services provider on Monday, November 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Wednesday, October 15th.

Norwood Financial has a dividend payout ratio of 43.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Norwood Financial to earn $2.74 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 45.3%.

Norwood Financial Price Performance

Shares of NWFL traded up $0.31 during midday trading on Thursday, reaching $26.62. The stock had a trading volume of 14,075 shares, compared to its average volume of 23,541. The company's 50-day moving average is $25.41 and its 200 day moving average is $25.15. Norwood Financial has a 12-month low of $21.25 and a 12-month high of $34.50. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $246.50 million, a price-to-earnings ratio of 110.92 and a beta of 0.71.

Norwood Financial (NASDAQ:NWFL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.03. Norwood Financial had a return on equity of 8.86% and a net margin of 2.92%.The firm had revenue of $21.20 million during the quarter, compared to analysts' expectations of $21.16 million. On average, equities analysts predict that Norwood Financial will post 2.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. raised its position in shares of Norwood Financial by 130.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,061 shares of the financial services provider's stock worth $27,000 after acquiring an additional 601 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Norwood Financial by 293.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,771 shares of the financial services provider's stock worth $46,000 after acquiring an additional 1,321 shares in the last quarter. Corebridge Financial Inc. raised its position in shares of Norwood Financial by 13.0% in the 1st quarter. Corebridge Financial Inc. now owns 4,079 shares of the financial services provider's stock worth $99,000 after acquiring an additional 468 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Norwood Financial by 18.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,909 shares of the financial services provider's stock worth $119,000 after buying an additional 765 shares during the last quarter. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Norwood Financial in the 4th quarter worth approximately $137,000. Institutional investors own 28.08% of the company's stock.

Norwood Financial Company Profile

Norwood Financial Corp. operates as the bank holding company for Wayne Bank that provides various banking products and services. The company accepts a range of deposit products, including interest-bearing and non-interest-bearing transaction accounts, and statement savings and money market accounts, as well as certificate of deposits.