Norwood Financial (NASDAQ:NWFL) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Norwood Financial has been downgraded from a "buy" to a "hold" rating by analysts at Wall Street Zen, indicating a shift in market sentiment regarding the stock's performance.
• The stock is currently priced at $24.08, with a market cap of approximately $222.98 million and a P/E ratio of 100.34.
• In recent institutional trading activity, major investors have increased their stakes in Norwood Financial, with 28.08% of the stock now held by institutional investors and hedge funds.

Wall Street Zen lowered shares of Norwood Financial (NASDAQ:NWFL - Free Report) from a buy rating to a hold rating in a research note released on Saturday morning.

Separately, Stephens reissued an "equal weight" rating and set a $26.50 price objective on shares of Norwood Financial in a research report on Tuesday, July 8th.

Norwood Financial Stock Down 1.0%

Norwood Financial stock traded down $0.25 during mid-day trading on Friday, reaching $24.05. 4,183 shares of the company's stock were exchanged, compared to its average volume of 19,443. The company has a fifty day moving average of $25.32 and a 200-day moving average of $25.15. Norwood Financial has a twelve month low of $21.25 and a twelve month high of $34.50. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.54. The company has a market cap of $222.66 million, a P/E ratio of 100.03 and a beta of 0.69.

Norwood Financial (NASDAQ:NWFL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.64 by $0.03. Norwood Financial had a net margin of 2.92% and a return on equity of 9.02%. The firm had revenue of $21.20 million for the quarter, compared to analyst estimates of $21.16 million. Sell-side analysts expect that Norwood Financial will post 2.51 EPS for the current year.

Norwood Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Tuesday, July 15th. Norwood Financial's dividend payout ratio is 516.67%.

Hedge Funds Weigh In On Norwood Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Corebridge Financial Inc. raised its position in Norwood Financial by 13.0% during the first quarter. Corebridge Financial Inc. now owns 4,079 shares of the financial services provider's stock valued at $99,000 after acquiring an additional 468 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Norwood Financial by 18.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,909 shares of the financial services provider's stock valued at $119,000 after acquiring an additional 765 shares in the last quarter. GAMMA Investing LLC raised its position in Norwood Financial by 42,200.0% during the first quarter. GAMMA Investing LLC now owns 5,076 shares of the financial services provider's stock valued at $123,000 after acquiring an additional 5,064 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Norwood Financial in the fourth quarter valued at approximately $137,000. Finally, Wells Fargo & Company MN raised its position in shares of Norwood Financial by 21.7% in the fourth quarter. Wells Fargo & Company MN now owns 5,203 shares of the financial services provider's stock valued at $142,000 after purchasing an additional 928 shares during the period. 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.