Gateway Wealth Partners LLC Acquires New Stake in Norwood Financial Corp. $NWFL

Gateway Wealth Partners LLC acquired a new stake in Norwood Financial Corp. (NASDAQ:NWFL) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,622 shares of the financial services provider’s stock, valued at approximately $518,000.

A number of other large investors also recently bought and sold shares of NWFL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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 acquiring an additional 765 shares during the period. Geode Capital Management LLC increased its stake in shares of Norwood Financial by 3.2% during the second quarter. Geode Capital Management LLC now owns 201,858 shares of the financial services provider’s stock worth $5,205,000 after acquiring an additional 6,238 shares during the period. Marshall Wace LLP acquired a new position in shares of Norwood Financial during the second quarter worth about $648,000. Raymond James Financial Inc. raised its holdings in Norwood Financial by 20.8% during the second quarter. Raymond James Financial Inc. now owns 89,419 shares of the financial services provider’s stock worth $2,305,000 after purchasing an additional 15,408 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Norwood Financial by 293.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,771 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,321 shares in the last quarter. Hedge funds and other institutional investors own 28.08% of the company’s stock.

Norwood Financial Stock Performance

Shares of NWFL opened at $33.70 on Friday. The company has a 50-day simple moving average of $31.42 and a 200-day simple moving average of $30.36. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $367.03 million, a PE ratio of 11.62 and a beta of 0.55. Norwood Financial Corp. has a 52-week low of $23.71 and a 52-week high of $34.55.

Norwood Financial (NASDAQ:NWFL) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). Norwood Financial had a return on equity of 13.33% and a net margin of 18.68%.The company had revenue of $29.37 million for the quarter, compared to analysts’ expectations of $28.10 million. Equities research analysts predict that Norwood Financial Corp. will post 3.47 earnings per share for the current fiscal year.

Norwood Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $1.28 annualized dividend and a dividend yield of 3.8%. Norwood Financial’s payout ratio is 44.14%.

Analyst Ratings Changes

NWFL has been the topic of a number of analyst reports. Wall Street Zen lowered Norwood Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Norwood Financial in a research note on Friday, July 24th. Finally, Stephens reissued a “mixed” rating and set a $35.00 target price (up from $34.00) on shares of Norwood Financial in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.00.

Insider Activity at Norwood Financial

In other news, Director James Shook purchased 3,100 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were acquired at an average price of $34.55 per share, for a total transaction of $107,105.00. Following the acquisition, the director directly owned 12,586 shares in the company, valued at approximately $434,846.30. The trade was a 32.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders purchased 4,742 shares of company stock worth $156,015. 8.10% of the stock is owned by insiders.

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.