Norwood Financial (NASDAQ:NWFL) Posts Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Key Points

• Norwood Financial reported a quarterly earnings of $0.89 EPS, exceeding the consensus estimate of $0.68 EPS by $0.21.
• The company declared a quarterly dividend of $0.31 per share, resulting in an annualized yield of 4.8%.
• Analysts have downgraded the stock, with Zacks Research lowering it from a "strong-buy" rating to a "hold" rating and Weiss Ratings moving from "hold" to "sell".

Norwood Financial (NASDAQ:NWFL - Get Free Report) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.68 by $0.21, RTT News reports. The business had revenue of $22.10 million during the quarter, compared to analysts' expectations of $22.10 million. Norwood Financial had a return on equity of 8.86% and a net margin of 2.92%.During the same quarter in the previous year, the business posted $0.48 EPS.

Norwood Financial Price Performance

Shares of NWFL stock traded up $1.09 during trading hours on Wednesday, hitting $25.82. The company had a trading volume of 11,991 shares, compared to its average volume of 20,036. Norwood Financial has a 12 month low of $21.25 and a 12 month high of $34.50. 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 firm's fifty day moving average is $25.80 and its 200 day moving average is $25.26. The firm has a market capitalization of $239.10 million, a price-to-earnings ratio of 107.57 and a beta of 0.69.

Norwood Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Norwood Financial's payout ratio is presently 516.67%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Zacks Research lowered shares of Norwood Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Weiss Ratings cut Norwood Financial from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Norwood Financial from a "buy" rating to a "hold" rating in a report on Monday. Finally, 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. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $28.50.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in Norwood Financial by 3.2% in the second quarter. Geode Capital Management LLC now owns 201,858 shares of the financial services provider's stock valued at $5,205,000 after buying an additional 6,238 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of Norwood Financial by 20.8% during the second 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 last quarter. Marshall Wace LLP acquired a new stake in shares of Norwood Financial in the second quarter valued at approximately $648,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Norwood Financial by 18.5% in 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 purchasing an additional 765 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Norwood Financial by 293.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,771 shares of the financial services provider's stock worth $46,000 after buying an additional 1,321 shares in the last quarter. 28.08% of the stock is currently owned by institutional investors and hedge funds.

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.

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