Norwood Financial Corp. (NASDAQ:NWFL) Short Interest Update

Key Points

• Short interest in Norwood Financial Corp. (NASDAQ:NWFL) rose by 33.4% in August, reaching a total of 244,400 shares as of August 31st.
• Several institutional investors significantly increased their holdings in NWFL, with GAMMA Investing LLC raising its position by an astonishing 42,200.0%.
• Analysts have mixed outlooks on NWFL, with Zacks lowering its rating from "strong-buy" to "hold", while Wall Street Zen upgraded it from "hold" to "buy".

Norwood Financial Corp. (NASDAQ:NWFL - Get Free Report) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 244,400 shares, an increase of 33.4% from the August 15th total of 183,200 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average daily volume of 22,000 shares, the short-interest ratio is presently 11.1 days. Based on an average daily volume of 22,000 shares, the short-interest ratio is presently 11.1 days. Approximately 2.9% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Norwood Financial from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Stephens reiterated an "equal weight" rating and set a $26.50 price target on shares of Norwood Financial in a research note on Tuesday, July 8th. Finally, Zacks Research cut shares of Norwood Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $28.50.

Institutional Investors Weigh In On Norwood Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp grew its holdings in Norwood Financial by 7.6% in the fourth quarter. Northern Trust Corp now owns 66,149 shares of the financial services provider's stock valued at $1,800,000 after purchasing an additional 4,652 shares during the period. Bank of America Corp DE grew its holdings in Norwood Financial by 48.9% in the fourth quarter. Bank of America Corp DE now owns 9,086 shares of the financial services provider's stock valued at $247,000 after purchasing an additional 2,985 shares during the period. Deutsche Bank AG purchased a new stake in Norwood Financial in the fourth quarter valued at approximately $232,000. Mascagni Wealth Management Inc. purchased a new stake in Norwood Financial in the fourth quarter valued at approximately $137,000. Finally, Wellington Management Group LLP purchased a new stake in Norwood Financial in the fourth quarter valued at approximately $16,814,000. 28.08% of the stock is currently owned by hedge funds and other institutional investors.

Norwood Financial Trading Down 0.4%

Shares of NASDAQ NWFL traded down $0.11 during midday trading on Friday, reaching $26.51. 40,330 shares of the stock were exchanged, compared to its average volume of 23,878. The company has a market capitalization of $245.48 million, a P/E ratio of 110.46 and a beta of 0.71. Norwood Financial has a 52-week low of $21.25 and a 52-week high of $34.50. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $25.44 and a 200-day moving average price of $25.16.

Norwood Financial (NASDAQ:NWFL - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.03. The business had revenue of $21.20 million during the quarter, compared to the consensus estimate of $21.16 million. Norwood Financial had a net margin of 2.92% and a return on equity of 8.86%. Equities research analysts expect that Norwood Financial will post 2.51 earnings per share for the current fiscal year.

Norwood Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, October 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.7%. Norwood Financial's payout ratio is 516.67%.

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.