Norwood Financial (NASDAQ:NWFL) Issues Quarterly Earnings Results, Meets Estimates

Key Points

• Norwood Financial reported quarterly EPS of $0.86, exactly matching analyst expectations, while revenue came in at $29.37 million, topping the consensus estimate of $28.10 million.
• The stock was down 0.9% around the report, and the company continues to show modest valuation and balance-sheet metrics, including a 11.42 P/E ratio and 0.31 debt-to-equity ratio.
• The company declared a quarterly dividend of $0.32 per share, equal to an annualized yield of about 4.1%, with payment scheduled for August 3.

Norwood Financial (NASDAQ:NWFL - Get Free Report) released its quarterly earnings data on Wednesday. The financial services provider reported $0.86 EPS for the quarter, hitting analysts' consensus estimates of $0.86, FiscalAI reports. Norwood Financial had a net margin of 17.75% and a return on equity of 12.43%. The firm had revenue of $29.37 million during the quarter, compared to the consensus estimate of $28.10 million.

Norwood Financial Stock Down 0.9%

NWFL stock opened at $30.96 on Wednesday. The stock has a market cap of $337.19 million, a PE ratio of 11.42 and a beta of 0.55. The firm's 50-day simple moving average is $30.94 and its 200 day simple moving average is $30.12. Norwood Financial has a fifty-two week low of $23.70 and a fifty-two week high of $32.86. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.31.

Norwood Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, July 15th. Norwood Financial's dividend payout ratio (DPR) is 47.23%.

Insider Buying and Selling

In other news, CFO John Martin Mccaffery, Jr. bought 1,000 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was purchased at an average price of $29.44 per share, for a total transaction of $29,440.00. Following the transaction, the chief financial officer owned 4,000 shares in the company, valued at approximately $117,760. This trade represents a 33.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have bought 3,297 shares of company stock valued at $97,483. 8.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Norwood Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NWFL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 valued at $119,000 after acquiring an additional 765 shares during the period. Geode Capital Management LLC boosted its position in 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 worth $5,205,000 after acquiring an additional 6,238 shares during the period. Marshall Wace LLP acquired a new position in Norwood Financial during the 2nd quarter worth $648,000. Raymond James Financial Inc. grew its stake in shares of Norwood Financial by 20.8% in the second quarter. Raymond James Financial Inc. now owns 89,419 shares of the financial services provider's stock worth $2,305,000 after purchasing an additional 15,408 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Norwood Financial by 293.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,771 shares of the financial services provider's stock worth $46,000 after purchasing an additional 1,321 shares in the last quarter. 28.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NWFL. Weiss Ratings upgraded shares of Norwood Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, April 29th. Wall Street Zen lowered shares of Norwood Financial from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $33.00.

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. It also provides commercial loans comprising lines of credit, revolving credit, term loans, mortgages, secured lending products, and letter of credit facilities; municipal finance lending; construction loans for commercial construction projects and single-family residences; land loans; construction financing; consumer loans; mortgage lending to finance principal residences and second home dwellings; and indirect dealer financing of new and used automobiles, boats, and recreational vehicles.

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