Wellington Management Group LLP Sells 183,286 Shares of Norwood Financial Corp. $NWFL

Wellington Management Group LLP reduced its stake in Norwood Financial Corp. (NASDAQ:NWFL) by 24.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 567,505 shares of the financial services provider’s stock after selling 183,286 shares during the quarter. Wellington Management Group LLP owned about 5.21% of Norwood Financial worth $18,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of NWFL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Norwood Financial by 18.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,909 shares of the financial services provider’s stock worth $119,000 after buying an additional 765 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Norwood Financial by 3.2% during 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 in the last quarter. Marshall Wace LLP bought a new stake in shares of Norwood Financial during the 2nd quarter worth $648,000. Raymond James Financial Inc. lifted its holdings in shares of Norwood Financial by 20.8% during 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 last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Norwood Financial by 293.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,771 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,321 shares during the last quarter. 28.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on NWFL shares. Stephens reissued a “mixed” rating and issued a $35.00 target price (up from $34.00) on shares of Norwood Financial in a research note on Thursday, July 23rd. Wall Street Zen lowered Norwood Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Norwood Financial in a report on Friday, July 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Norwood Financial Price Performance

NWFL stock opened at $34.71 on Monday. The firm has a market cap of $378.34 million, a P/E ratio of 11.97 and a beta of 0.54. The firm’s fifty day moving average is $33.10 and its 200 day moving average is $31.16. Norwood Financial Corp. has a 52 week low of $23.82 and a 52 week high of $35.48. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91.

Norwood Financial (NASDAQ:NWFL) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). Norwood Financial had a net margin of 18.68% and a return on equity of 12.88%. The business had revenue of $29.37 million for the quarter, compared to analysts’ expectations of $28.10 million. Research analysts predict that Norwood Financial Corp. will post 3.47 earnings per share for the current year.

Norwood Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, July 15th. Norwood Financial’s payout ratio is 44.14%.

Insider Activity

In related news, Director James Shook acquired 3,100 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was purchased at an average price of $34.55 per share, with a total value of $107,105.00. Following the completion of the purchase, the director owned 12,586 shares in the company, valued at $434,846.30. This trade represents a 32.68% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vincent O’bell sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $34.52, for a total transaction of $103,560.00. Following the completion of the transaction, the executive vice president owned 4,392 shares in the company, valued at $151,611.84. This represents a 40.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 8.10% of the company’s stock.

Norwood Financial 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. It also provides commercial loans comprising lines of credit, revolving credit, term loans, mortgages, secured lending products, and letter of credit facilities; municipal finance lending; construction loans for commercial construction projects and single-family residences; land loans; construction financing; consumer loans; mortgage lending to finance principal residences and second home dwellings; and indirect dealer financing of new and used automobiles, boats, and recreational vehicles.