Raymond James Financial Inc. Acquires New Position in Norwood Financial Corp. (NASDAQ:NWFL)

Raymond James Financial Inc. bought a new position in Norwood Financial Corp. (NASDAQ:NWFL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 51,247 shares of the financial services provider's stock, valued at approximately $1,394,000. Raymond James Financial Inc. owned about 0.63% of Norwood Financial at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in shares of Norwood Financial in the fourth quarter worth about $16,814,000. Alliancebernstein L.P. acquired a new stake in Norwood Financial during the 4th quarter valued at approximately $2,092,000. JPMorgan Chase & Co. boosted its holdings in shares of Norwood Financial by 89.0% in the 4th quarter. JPMorgan Chase & Co. now owns 26,314 shares of the financial services provider's stock valued at $716,000 after acquiring an additional 12,392 shares during the last quarter. Barclays PLC increased its stake in shares of Norwood Financial by 280.5% in the third quarter. Barclays PLC now owns 9,787 shares of the financial services provider's stock worth $270,000 after acquiring an additional 7,215 shares during the period. Finally, Emerald Advisers LLC purchased a new position in shares of Norwood Financial during the fourth quarter worth $122,000. Institutional investors and hedge funds own 28.08% of the company's stock.

Norwood Financial Trading Down 0.9 %

NASDAQ:NWFL traded down $0.24 on Tuesday, hitting $25.51. The stock had a trading volume of 19,139 shares, compared to its average volume of 14,446. The stock has a market cap of $236.30 million, a price-to-earnings ratio of 2,551.00 and a beta of 0.69. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.74. The company has a fifty day moving average price of $24.24 and a two-hundred day moving average price of $26.66. Norwood Financial Corp. has a 1-year low of $21.25 and a 1-year high of $34.50.

Norwood Financial (NASDAQ:NWFL - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $20.20 million for the quarter, compared to analyst estimates of $20.60 million. Norwood Financial had a positive return on equity of 8.38% and a negative net margin of 0.16%. Equities research analysts expect that Norwood Financial Corp. will post 2.51 earnings per share for the current fiscal year.

Norwood Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend was Tuesday, April 15th. Norwood Financial's dividend payout ratio (DPR) is 1,377.78%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NWFL. Stephens reaffirmed an "equal weight" rating and set a $25.50 price target on shares of Norwood Financial in a research report on Monday, April 21st. StockNews.com raised shares of Norwood Financial from a "sell" rating to a "hold" rating in a research note on Tuesday, April 29th. Finally, Piper Sandler started coverage on shares of Norwood Financial in a research report on Wednesday, January 8th. They issued a "neutral" rating and a $28.00 target price for the company.

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.