Norwood Financial (NASDAQ:NWFL) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Norwood Financial (NASDAQ:NWFL) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

NWFL has been the topic of a number of other research reports. Stephens reissued an “equal weight” rating and issued a $26.50 target price on shares of Norwood Financial in a research report on Tuesday, July 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Norwood Financial in a research note on Saturday, September 27th. Finally, Zacks Research downgraded Norwood Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.50.

Norwood Financial Stock Up 0.5%

Shares of NASDAQ:NWFL opened at $25.63 on Friday. The company has a market capitalization of $237.33 million, a price-to-earnings ratio of 106.80 and a beta of 0.69. Norwood Financial has a 12-month low of $21.25 and a 12-month high of $34.50. The business has a 50-day moving average price of $25.66 and a 200 day moving average price of $25.21. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.38.

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

Norwood Financial Announces Dividend

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

Hedge Funds Weigh In On Norwood Financial

A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP raised its position in Norwood Financial by 2.1% in the 1st quarter. Wellington Management Group LLP now owns 630,867 shares of the financial services provider’s stock valued at $15,248,000 after purchasing an additional 12,815 shares during the last quarter. Geode Capital Management LLC increased its stake in Norwood Financial by 3.2% in the 2nd 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 during the period. Raymond James Financial Inc. lifted its stake in shares of Norwood Financial by 20.8% in the 2nd quarter. Raymond James Financial Inc. now owns 89,419 shares of the financial services provider’s stock worth $2,305,000 after acquiring an additional 15,408 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Norwood Financial by 1.0% in the second quarter. Cetera Investment Advisers now owns 61,743 shares of the financial services provider’s stock valued at $1,592,000 after acquiring an additional 604 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Norwood Financial in the second quarter valued at about $648,000. 28.08% of the stock is 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.