Cornerstone Wealth Group LLC Invests $4.68 Million in Norwood Financial Corp. $NWFL

Cornerstone Wealth Group LLC acquired a new stake in shares of Norwood Financial Corp. (NASDAQ:NWFL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 184,064 shares of the financial services provider’s stock, valued at approximately $4,679,000. Cornerstone Wealth Group LLC owned 1.99% of Norwood Financial as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of NWFL. Geode Capital Management LLC grew 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 worth $5,205,000 after acquiring an additional 6,238 shares during the period. Raymond James Financial Inc. boosted its holdings in shares of 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 during the last quarter. Cetera Investment Advisers grew its position 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 purchasing an additional 604 shares during the period. Marshall Wace LLP acquired a new position in Norwood Financial in the second quarter valued at $648,000. Finally, Fourthstone LLC purchased a new position in Norwood Financial during the second quarter worth about $510,000. Institutional investors and hedge funds own 28.08% of the company’s stock.

Norwood Financial Stock Performance

NASDAQ NWFL opened at $28.00 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.90 and a quick ratio of 0.90. Norwood Financial Corp. has a 1-year low of $21.25 and a 1-year high of $30.59. The firm has a market capitalization of $259.28 million, a P/E ratio of 43.08 and a beta of 0.61. The business’s 50-day simple moving average is $28.42 and its 200-day simple moving average is $26.60.

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

Norwood Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th will be paid a dividend of $0.32 per share. This is a boost from Norwood Financial’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Thursday, January 15th. Norwood Financial’s payout ratio is presently 196.92%.

Insider Buying and Selling at Norwood Financial

In related news, Director James Shook bought 3,800 shares of the stock in a transaction dated Monday, October 27th. The stock was acquired at an average price of $26.71 per share, for a total transaction of $101,498.00. Following the completion of the purchase, the director owned 4,830 shares in the company, valued at $129,009.30. This represents a 368.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.20% of the stock is owned by insiders.

Analysts Set New Price Targets

NWFL has been the subject of several recent analyst reports. Wall Street Zen upgraded Norwood Financial from a “hold” rating to a “buy” rating in a report on Tuesday, October 28th. Zacks Research cut shares of Norwood Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Norwood Financial in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Norwood Financial presently has a consensus rating of “Hold” and a consensus target price of $26.50.

Norwood Financial Profile

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.