Finward Bancorp (NASDAQ:FNWD) Short Interest Up 49.0% in July

Key Points

• Short interest in Finward Bancorp has increased by 49.0%, totaling 114,000 shares as of July 31st, representing 3.1% of the company's shares short sold.
• The company reported earnings of $0.50 per share, exceeding the consensus estimate by $0.26, with a revenue of $16.63 million for the quarter.
• Finward Bancorp announced a quarterly dividend of $0.12 per share, with a dividend yield of 1.6%, to be paid on September 12th.

Finward Bancorp (NASDAQ:FNWD - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 114,000 shares, anincreaseof49.0% from the July 15th total of 76,500 shares. Currently,3.1% of the company's shares are sold short. Based on an average trading volume of 33,100 shares, the days-to-cover ratio is currently 3.4 days. Based on an average trading volume of 33,100 shares, the days-to-cover ratio is currently 3.4 days. Currently,3.1% of the company's shares are sold short.

Finward Bancorp Trading Up 3.7%

NASDAQ:FNWD traded up $1.09 during midday trading on Friday, reaching $30.43. 37,009 shares of the stock traded hands, compared to its average volume of 77,974. The company has a fifty day moving average of $28.14 and a 200 day moving average of $28.68. Finward Bancorp has a 12 month low of $26.12 and a 12 month high of $33.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $131.46 million, a P/E ratio of 24.54 and a beta of 0.27.

Finward Bancorp (NASDAQ:FNWD - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.26. Finward Bancorp had a net margin of 5.23% and a return on equity of 3.45%. The company had revenue of $16.63 million during the quarter, compared to analyst estimates of $16.85 million. On average, research analysts predict that Finward Bancorp will post 0.9 EPS for the current year.

Finward Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 29th. Finward Bancorp's dividend payout ratio is currently 38.71%.

Institutional Investors Weigh In On Finward Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Finward Bancorp by 99.7% during the 2nd quarter. Geode Capital Management LLC now owns 81,669 shares of the company's stock valued at $2,256,000 after purchasing an additional 40,778 shares during the period. PL Capital Advisors LLC increased its position in Finward Bancorp by 11.2% during the 1st quarter. PL Capital Advisors LLC now owns 395,716 shares of the company's stock valued at $11,515,000 after purchasing an additional 40,000 shares during the period. OLD National Bancorp IN purchased a new position in Finward Bancorp during the 2nd quarter valued at $442,000. Los Angeles Capital Management LLC purchased a new position in Finward Bancorp during the 2nd quarter valued at $213,000. Finally, Northern Trust Corp increased its position in Finward Bancorp by 37.5% during the 4th quarter. Northern Trust Corp now owns 15,021 shares of the company's stock valued at $422,000 after purchasing an additional 4,098 shares during the period. 26.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FNWD shares. Wall Street Zen upgraded shares of Finward Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Stephens boosted their price objective on shares of Finward Bancorp from $32.00 to $34.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Finward Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $32.50.

About Finward Bancorp

Finward Bancorp operates as the holding company for Peoples Bank that provides various banking products and services. The company's deposit products include non-interest- and interest-bearing demand accounts, savings accounts, money market deposit accounts, certificate accounts, and retirement savings plans.