Weiss Ratings Reiterates "Hold (C)" Rating for Finward Bancorp (NASDAQ:FNWD)

Key Points

• Weiss Ratings has reiterated a "Hold (C)" rating for Finward Bancorp (NASDAQ:FNWD), while Wall Street Zen upgraded its rating from "sell" to "hold."
• Finward Bancorp's stock opened at $31.96, with an average rating of "Hold" and a consensus target price of $34.00.
• Institutional investors have increased their holdings in Finward Bancorp, with Geode Capital Management lifting its stake by 99.7% in the last quarter.

Finward Bancorp (NASDAQ:FNWD - Get Free Report)'s stock had its "hold (c)" rating reissued by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded Finward Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $34.00.

Finward Bancorp Stock Performance

Finward Bancorp stock opened at $31.96 on Wednesday. The business has a 50 day moving average of $30.87 and a 200-day moving average of $29.70. Finward Bancorp has a 1 year low of $26.12 and a 1 year high of $33.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $138.07 million, a P/E ratio of 25.77 and a beta of 0.31.

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

Hedge Funds Weigh In On Finward Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Finward Bancorp by 99.7% in the 2nd quarter. Geode Capital Management LLC now owns 81,669 shares of the company's stock worth $2,256,000 after purchasing an additional 40,778 shares in the last quarter. Caldwell Trust Co bought a new position in shares of Finward Bancorp in the 2nd quarter worth $1,117,000. PL Capital Advisors LLC lifted its holdings in shares of Finward Bancorp by 11.2% in the 1st quarter. PL Capital Advisors LLC now owns 395,716 shares of the company's stock worth $11,515,000 after purchasing an additional 40,000 shares in the last quarter. OLD National Bancorp IN purchased a new stake in Finward Bancorp in the 2nd quarter valued at $442,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Finward Bancorp in the 2nd quarter valued at $213,000. 26.59% of the stock is currently owned by institutional investors.

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.

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