Norwood Financial (NASDAQ:NWFL) Downgraded to "Hold" Rating by Zacks Research

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 analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

NWFL has been the topic of several other reports. Wall Street Zen upgraded Norwood Financial from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Stephens reiterated an "equal weight" rating and set a $26.50 target price on shares of Norwood Financial in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $28.50.

Norwood Financial Stock Down 1.3%

NASDAQ:NWFL traded down $0.34 during trading hours on Monday, hitting $26.49. 18,984 shares of the company traded hands, compared to its average volume of 23,662. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.38. The firm's 50-day simple moving average is $25.35 and its 200-day simple moving average is $25.13. Norwood Financial has a one year low of $21.25 and a one year high of $34.50. The company has a market cap of $245.30 million, a PE ratio of 110.38 and a beta of 0.71.

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

Institutional Investors Weigh In On Norwood Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Norwood Financial by 2.1% in 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 acquiring an additional 12,815 shares during the period. Geode Capital Management LLC raised its stake in Norwood Financial by 3.2% in 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 acquiring an additional 6,238 shares during the period. Dimensional Fund Advisors LP raised its stake in Norwood Financial by 2.9% in 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 acquiring an additional 3,017 shares during the period. Raymond James Financial Inc. raised its stake in Norwood Financial by 20.8% in 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 acquiring an additional 15,408 shares during the period. Finally, Northern Trust Corp raised its stake in Norwood Financial by 7.6% in the 4th quarter. Northern Trust Corp now owns 66,149 shares of the financial services provider's stock valued at $1,800,000 after acquiring an additional 4,652 shares during the period. 28.08% of the stock is currently owned by institutional investors.

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.