Zacks Research Downgrades Norwood Financial (NASDAQ:NWFL) to Hold

Key Points

• Norwood Financial's stock rating has been downgraded from a "strong-buy" to a "hold" by Zacks Research.
• The company's recent earnings report showed a profit of $0.67 per share, surpassing analysts' expectations of $0.64.
• Institutional investors currently own 28.08% of Norwood Financial's stock, with notable recent increases in stakes from several hedge funds.

Norwood Financial (NASDAQ:NWFL - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday, September 8th,Zacks.com reports.

Several other equities analysts have also issued reports on NWFL. Stephens reaffirmed an "equal weight" rating and issued a $26.50 price target on shares of Norwood Financial in a research report on Tuesday, July 8th. Wall Street Zen raised Norwood Financial from a "hold" rating to a "buy" rating in a research report on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $28.50.

Norwood Financial Stock Up 0.3%

Shares of NWFL traded up $0.09 during trading hours on Monday, hitting $26.58. The company had a trading volume of 5,557 shares, compared to its average volume of 19,864. The firm has a fifty day moving average price of $25.35 and a 200-day moving average price of $25.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $246.14 million, a price-to-earnings ratio of 110.76 and a beta of 0.70. Norwood Financial has a 52-week low of $21.25 and a 52-week high of $34.50.

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

Hedge Funds Weigh In On Norwood Financial

A number of hedge funds have recently bought and sold shares of NWFL. Wellington Management Group LLP grew its stake in shares of Norwood Financial by 2.1% during the 1st quarter. Wellington Management Group LLP now owns 630,867 shares of the financial services provider's stock valued at $15,248,000 after purchasing an additional 12,815 shares during the period. Geode Capital Management LLC grew its stake in shares of Norwood Financial by 3.2% during the 2nd quarter. Geode Capital Management LLC now owns 201,858 shares of the financial services provider's stock valued at $5,205,000 after purchasing an additional 6,238 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Norwood Financial by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 106,786 shares of the financial services provider's stock valued at $2,905,000 after purchasing an additional 3,017 shares during the period. Raymond James Financial Inc. grew its stake in shares of Norwood Financial by 20.8% during the 2nd quarter. Raymond James Financial Inc. now owns 89,419 shares of the financial services provider's stock valued at $2,305,000 after purchasing an additional 15,408 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Norwood Financial by 7.6% during the 4th quarter. Northern Trust Corp now owns 66,149 shares of the financial services provider's stock valued at $1,800,000 after purchasing an additional 4,652 shares during the period. Hedge funds and other institutional investors own 28.08% of the company's stock.

About Norwood Financial

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.