Norwood Financial (NASDAQ:NWFL) Downgraded by Zacks Research to “Hold”

Norwood Financial (NASDAQ:NWFL) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other research analysts have also issued reports about the company. Wall Street Zen upgraded Norwood Financial from a “hold” rating to a “buy” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Norwood Financial in a research note on Monday. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Norwood Financial presently has a consensus rating of “Hold” and a consensus price target of $28.50.

Norwood Financial Trading Down 0.9%

Shares of NASDAQ:NWFL opened at $28.66 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s 50-day moving average is $27.58 and its 200-day moving average is $26.25. The company has a market cap of $265.39 million, a P/E ratio of 44.09 and a beta of 0.59. Norwood Financial has a 52-week low of $21.25 and a 52-week high of $30.59.

Norwood Financial (NASDAQ:NWFL) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.26. Norwood Financial had a return on equity of 10.68% and a net margin of 6.82%.The business had revenue of $22.96 million during the quarter, compared to analysts’ expectations of $22.10 million. During the same quarter in the previous year, the firm earned $0.48 EPS. Equities research analysts predict that Norwood Financial will post 2.51 earnings per share for the current year.

Insider Buying and Selling at Norwood Financial

In other Norwood Financial news, Director James Shook bought 3,800 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were acquired at an average price of $26.71 per share, with a total value of $101,498.00. Following the completion of the purchase, the director directly owned 4,830 shares in the company, valued at $129,009.30. The trade was a 368.93% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Norwood Financial

A number of institutional investors have recently added to or reduced their stakes in NWFL. Charles Schwab Investment Management Inc. boosted its stake in shares of Norwood Financial by 12.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 23,165 shares of the financial services provider’s stock valued at $560,000 after purchasing an additional 2,628 shares in the last quarter. Nuveen LLC bought a new stake in Norwood Financial during the first quarter worth about $319,000. Wellington Management Group LLP increased its holdings in shares of Norwood Financial by 2.1% during the first quarter. Wellington Management Group LLP now owns 630,867 shares of the financial services provider’s stock worth $15,248,000 after buying an additional 12,815 shares in the last quarter. Corebridge Financial Inc. increased its holdings in shares of Norwood Financial by 13.0% during the first quarter. Corebridge Financial Inc. now owns 4,079 shares of the financial services provider’s stock worth $99,000 after buying an additional 468 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Norwood Financial by 18.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,909 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 765 shares during the last quarter. 28.08% of the stock is owned by institutional investors and hedge funds.

About Norwood Financial

Norwood Financial Corporation is the bank holding company for Norwood Bank, a community-oriented financial institution headquartered in Norwood, Massachusetts. Incorporated in 2010, the company oversees a network of branch offices serving suburban and metropolitan communities in eastern Massachusetts. Norwood Financial’s mission emphasizes personalized service, local decision-making and a commitment to supporting neighborhood growth.

The company’s primary business activities encompass a full suite of personal and commercial banking products and services.